Claude Perkins said: "BroadwayJane said: "Claude Perkins said: "carolynbrooks said: "CarlosAlberto said: "I take that back, your whole post is melodramatic."
Aha, an entire company that went bankrupt based on cooked books, millions lost , not to mention the demise of his last company , Cineplex, now that is drama Carlos! "
What demise ? Cineplex may have exited the U.S. market but never folded and are very much alive in Canada (where it originated ) where they currently have an 80% market share of theatrical revenue.
Last December they won a $1.2 billion settlement against CineWorld ( Regal's corporate parent ) for backing out of a deal to purchase Cineplex made before the pandemic hit. It's currently under appeal, but nobody expects CineWorld to get the decision reversed based on their shoddy performance during the first trial. It's purely a delay tactic.
Cineplex should be around for a while."
You are oddly misinformed, when Drabinsky was forced out of the company, it was a house of cards much like LIVENT, the accountants scrambled to sell off assets and prevent near bankruptcy. it took a decade to turn it around and only survived at that tike by buying its competitor. The 80% market share you refer to means nothing as the industry is at near extinction and its stock price dropped like a rock. The suit you refer to is being appealed and they have collected nothing to date. They go to quarter to quarter waiting on a weak supply chain of product from Hollywood. Regardless, this was the first company Drabinsky destroyed before moving on to LIVENT.
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DEMISE -
noun
death or decease.
termination of existence or operation:
An incorrect word to use about a company still in business 20 years later.
And my post quite clearly stated the lawsuit a]with Cineworld is under appeal.
Perhaps English is not your first language ?"
Claude, beyond childish and petty. Hogan is a hero