Cineplex creates new media division
By Adnews Staff
Cineplex Entertainment of Toronto has formed a new division called Cineplex Media. The division combines the operations of the company's CineMarketing sales division and Famous Players Media. The division will manage the company's advertising vehicles. Cineplex gained a 51% interest in Famous Players Media when it acquired the movie exhibition business of Famous Players in July. Cineplex has now purchased the remaining interest in Famous Players Media from Salah Bachir, who had lead that operation since it was created. The purchase also includes the publications Famous Magazine, Le Magazine Famous Quebec and Famous Kids. Bachir has now joined Cineplex and will lead the Cineplex Media division. "These are great assets for Cineplex Entertainment," said Cineplex president Ellis Jacob. "We are expanding our on-screen advertising business, getting new magazines, increasing unit holder value and adding a team of talented media professionals to our business." Cineplex owns, operates or has an interest in 130 theatres in Canada under the names Cineplex Odeon, Coliseum, Colossus, Famous Players, Galaxy and Silver City.