Monday, June 13, 2005

I sense a great disturbance in the Force...

That's no moon. It's a MEGA theatre.

Cineplex Galaxy buys Famous Players
RITA TRICHUR
CANADIAN PRESS

Cineplex Galaxy LP raised the curtain on a blockbuster deal today, confirming its long-rumoured acquisition of larger rival Famous Players for $500 million.

The deal will create a film-screening juggernaut with 132 locations and more than 1,300 screens across Canada and a combined box-office market share of about 61 per cent.
And you SOOOOOO know this is a move by an EVIL corporation because of the way the CEO speaks:
"This transaction is a major transforming event for Cineplex Galaxy," CEO Ellis Jacob told investors during a conference call.

"It allows us to capitalize on the many synergies between the two companies."
Dude, like, could you say that in, um, non-businessese?
I've got a bad feeling about this. Thank god I've already gone to see Mr. & Mrs. Smith and Star Wars. Oh wait, those weren't THAT good. Anyhow, I don't know if I can afford to go to the theatres anymore if prices go up, even if they promise otherwise:
Industry observers said the deal was unlikely to result in higher box-office prices.

"The trend in pricing has been down," said Jeff Tkachuk an analyst with BMO Nesbitt Burns.

"I don't suspect that consumers would react favourably to a ticket price increase and I'm pretty sure that Cineplex realizes that also."

Absolutely, said Pat Marshall, Cineplex Galaxy's vice-president of communications and investor relations:

"Our philosophy has always been to keep ticket prices as low as possible to encourage people to visit with more frequency," Marshall said.
Wait, I've heard this before...

Lando: "You said the princess and the Wookiee would be handed over to me! And that movie tickets would be cheap! We had a deal!"

Vader: "I am altering that deal. And I'm raising the price of popcorn. Pray I don't alter it further."

No comments: