Cineplex Galaxy buys Famous PlayersAnd you SOOOOOO know this is a move by an EVIL corporation because of the way the CEO speaks:
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.
"This transaction is a major transforming event for Cineplex Galaxy," CEO Ellis Jacob told investors during a conference call.Dude, like, could you say that in, um, non-businessese?
"It allows us to capitalize on the many synergies between the two companies."
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.Wait, I've heard this before...
"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.
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."
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