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cineworld.co.uk

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Investments

1

Partners & Customers

5

About Cineworld

Cineworld Group was founded in 1995 and is a leading cinema group in the UK. Originally a private company, it re-registered as a public company in May 2006 and listed on the London Stock Exchange in May 2007.

Cineworld Headquarter Location

Power Road Studios Power Road, Chiswick

London, England, W4 5PY,

United Kingdom

0871 200 2000

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Research containing Cineworld

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CB Insights Intelligence Analysts have mentioned Cineworld in 1 CB Insights research brief, most recently on Apr 15, 2021.

Latest Cineworld News

Cineworld planned to sell off Cineplex’s signage, RecRoom business: theatre CEO

Oct 6, 2021

TD Wed., Oct. 6, 2021timer3 min. read updateArticle was updated 11 mins ago TORONTO - Cineworld Group PLC’s chief executive was planning to sell off Cineplex Inc.’s RecRoom and signage business in a secret initiative he called “Project Jumanji.” The U.K. cinema chain’s head Moshe “Mooky” Greidinger testified Wednesday at the Ontario Superior Court of Justice that his company was looking to find buyers for the businesses because he wanted to focus on theatres and Cineworld didn’t have expertise in these other areas. Greidinger called the digital sign venture and arcade and dining venues known as RecRoom “good businesses,” but said his company was drawing up documents and looking for buyers up until March, when “all hell broke loose” and COVID-19 spread. “We understood (the sale) had to wait,” he said. “We understood we needed to run them for awhile and after we’d sell them for a good price.” Greidinger’s remarks are part of a multibillion-dollar court case that has seen his cinema company face off against Cineplex, the Toronto theatre chain it announced it would purchase for $2.8 billion in December 2019. Cineworld backed out of the deal to buy Cineplex Inc. in June 2020, arguing it had the right to terminate the agreement without payment because Cineplex strayed from “ordinary course.” Cineplex is seeking more than $2.18 billion in damages from Cineworld, which filed a counter claim valued at about $54.8-million. Cineworld claims it was out of the ordinary for Cineplex to defer its accounts payable by at least 60 days, reduce spending to the “bare minimum” and stop paying landlords, movie studios, film distributors and suppliers at the pandemic’s start. But in September, Cineplex staff like chief executive Ellis Jacob testifiedthese moves were normal for a company coping with the pandemic and pointed out that other entertainment businesses like Cineworld acted similarly. Cineplex has also alleged Cineworld was quietly planning to end the deal as early as March 2020, well before it gave notice to Cineplex in June. The company further claimed that Cineworld drew out government approvals and sought financing that compromised the takeover. Greidinger denied those assertions Wednesday, but revealed that some of his staff had concerns about Cineplex keeping its debt below the agreed upon $725 million level. Cineworld chief financial officer Nisan Cohen, he said, expressed doubts about Cineplex meeting the deal’s terms in March, which were further exacerbated when “Star Wars: Episode IX - The Rise of Skywalker” had a “disappointing” impact on the box office. Soon after, Cohen’s feelings were echoed by Israel Greidinger, Moshe’s brother and Cineworld’s deputy chief executive officer. Greidinger monitored such doubts as theatres rapidly started to close around the world because of the spread of COVID-19. It was unlike anything he or his family, which has been in the theatre business since the 1930s, had ever seen. “Mid-March was not an earthquake. Really the sky fell on us,” Greidinger said. Yet, he was still committed to buying Cineplex, which Cineworld had been eyeing ever since it purchased Regal Cinemas in the U.S. in 2018. “I hoped that things would turn around and we’d do it,” said Greidinger. “But there were other problems on the other side that were slowly killing the deal.” Greidinger maintains that he was in communication with Jacob throughout the sale process, as government approvals were sought and as the deal’s closing date neared. He said he was asked by Jacob to keep some human resources plans confidential prior to the deal closing because he was worried they would cause “turbulences,” threaten government approvals or cause a large number of staff to leave. While he and Jacob had different views about Cineplex’s digital sign and RecRoom ventures, Greidinger said he respected the businesses and “acted only in good faith.” Cineplex has long been operating businesses that diversify its offerings beyond theatres because box office swings can be unpredictable and volatile and streaming options have proliferated the entertainment industry. This report by The Canadian Press was first published Oct. 6, 2021. Companies in this story: (TSX:CGX) SHARE:

Cineworld Investments

1 Investments

Cineworld has made 1 investments. Their latest investment was in Spyglass Media as part of their Other Investors on .

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Cineworld Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

Other Investors

Spyglass Media

Yes

Date

Round

Other Investors

Company

Spyglass Media

Amount

New?

Yes

Co-Investors

Sources

Cineworld Acquisitions

4 Acquisitions

Cineworld acquired 4 companies. Their latest acquisition was National CineMedia on June 19, 2018.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/19/2018

$991

Acquired

1

2/28/2018

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$991

$99M

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10

1/11/2014

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$991

$99M

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10

12/10/2012

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$991

$99M

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10

Date

6/19/2018

2/28/2018

1/11/2014

12/10/2012

Investment Stage

Companies

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Valuation

$991

$991

$991

$991

Total Funding

$99M

$99M

$99M

Note

Acquired

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Sources

1

10

10

10

Cineworld Partners & Customers

5 Partners and customers

Cineworld has 5 strategic partners and customers. Cineworld recently partnered with IMAX on July 7, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

7/24/2019

Partner

IMAX

United States

Cineworld Group And IMAX Expand Partnership With Agreement For 15 New IMAX® with Laser systems In...

The new agreement marks a significant expansion of Cineworld and IMAX Corporation 's more than 20-year partnership and builds on an agreement for 55 new IMAX Corporation with Laser systems signed by the companies in April 2018 .

5

7/24/2019

Partner

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10

8/24/2018

Vendor

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10

4/25/2018

Partner

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10

9/30/2017

Vendor

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10

Date

7/24/2019

7/24/2019

8/24/2018

4/25/2018

9/30/2017

Type

Partner

Partner

Vendor

Partner

Vendor

Business Partner

IMAX

Country

United States

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News Snippet

Cineworld Group And IMAX Expand Partnership With Agreement For 15 New IMAX® with Laser systems In...

The new agreement marks a significant expansion of Cineworld and IMAX Corporation 's more than 20-year partnership and builds on an agreement for 55 new IMAX Corporation with Laser systems signed by the companies in April 2018 .

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Sources

5

10

10

10

10

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