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Back in December 2019 Cineplex [TCO] announced it had been purchased by UK-based Cineworld Group for over $2.8 billion ($34 per share). While that was just a few months ago, the world has changed drastically with the spread of COVID-19. Today, Cineplex announced they have temporarily shut down their theatres and location-based entertainment venues across Canada to help further spread of COVID-19.
Certain financial conditions were put on Cineplex as part of the acquisition deal which include performance its stock which is now at risk. We have already seen several stocks take a hit due to the changing landscape. How creative can Cineplex become during these times of change, can the company find new revenue sources over the next few months?
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