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Canada’s #1 Film Exhibitor. Famous Players Acquisition – Circuit. Locations: 75 Screens: 689. Locations: 56 Screens: 591. Famous Players Acquisition - Rationale. The Leading Film Exhibitor in Canada Accretive to Distributable Cash Complementary Operations will Lead to Cost Savings

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Presentation Transcript
famous players acquisition circuit
Famous Players Acquisition – Circuit

Locations:75

Screens:689

Locations:56

Screens:591

famous players acquisition rationale
Famous Players Acquisition - Rationale
  • The Leading Film Exhibitor in Canada
  • Accretive to Distributable Cash
  • Complementary Operations will Lead to Cost Savings
  • Opportunities to Increase Distributable Cash through Revenue Growth
    • Increase advertising market share and ancillary income
  • Addition of High Quality theatres in Metropolitan Markets
  • Superior Combined Management
famous players acquisition timeline
Famous Players Acquisition - Timeline

Jul 22 –

Deal closed

Jul 22 –

Closed

Equity

And Debt

Financing

Jul 22 –

Formal

Divestiture

process

commences

Jul 29 –

Organization

Structure

Finalized

Aug 4 –

Riocan

transaction

completed

Aug 5 –

Employee

integration /

terminations

Aug 22 –

Announce

Empire

transaction

Viacom

launches

sale process

May 27 –

Consent

Order

signed

Jun 10 –

Purchase

Agreement

Signed

Sep 30 –

Close

Empire

transaction

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

2005

famous players acquisition synergies
Famous Players Acquisition - Synergies

Completed to Date:

  • Employee head count reduced by 35% - well on the way to meeting $20mm target
  • Head office employee integration/terminations completed August 5, 2005
  • Integration of financial reporting systems – October 2005
  • Acquired magazine and created 100% owned Cineplex Media Sales (former FP Media business was 51% owned by FP) – October 2005

Planned to Occur:

  • Vendor Contract negotiations
  • Operational efficiencies
    • Staffing models
  • Head office facility integration - December 31, 2005
  • Marketing efficiencies – single programs for all brands
six top tier brands
Six Top-Tier Brands

Colossus

SilverCity

Coliseum

Famous Players

Paramount->Naming Rights

Cineplex Odeon

Galaxy

strong box office share
Strong Box Office Share

Market Share of Canadian Box Office Revenues

Cineplex Galaxy Combined After Divestiture

Cineplex Galaxy:32.1%

Cineplex Galaxy:64.2%

Other: 9.8%

Other: 6.9%

Guzzo: 3.0%

Guzzo: 3.0%

Landmark: 3.1%

Landmark: 3.1%

Empire: 6.0%

Empire: 13.6%

AMC: 6.3%

AMC: 6.3%

Famous Players:42.6%

Media representation for AMC, Empire, Landmark and others -> 85% Media Market Share

Source: A.C. Nielsen EDI data

regional box office share
Regional Box Office Share

* Prior to Quebec divestitures

industry box office
Industry Box Office

* source: Motion Picture Theatre Association of Canada

highest grossing films in 2004 2005
Highest Grossing Films in 2004 / 2005

Top 5 Films 2005: $1.231 billion 2004: $1.725 billion

In Millions of dollars

Shrek 2

$441.2

Spiderman 2

$373.5

The Passion of the Christ

$370.2

Meet the Fockers

$279.2

The Incredibles

$261.4

Star Wars Episode3 Revenge of the Sith

$380.2

Harry Potter and the

Goblet of Fire

$205.5

Charlie and the Chocolate Factory

$206.4

War of the Worlds

$234.2

Batman Begins

$205.3

q4 2005 films
Q4 2005 Films

The Lion, the Witch and the WardrobeDecember 2005

Harry Potter and the Goblet of Fire

December 2005

King KongDecember 2005

Fun with Dick and Jane

December 2005

Memoirs of a Geisha

December 2005

increasing revenue per patron
Increasing Revenue Per Patron

Revenue Per Patron

$12.31

$ 11.82

$ 11.18

$10.84

$ 11.12

$10.27

$9.83

* Excluding divestitures

box office pricing
Box Office Pricing

Strategy:

  • Cineplex Galaxy – Theatre based pricing strategy
  • Famous Players – Market based pricing strategy

Action Plan:

  • Integrate to theatre based pricing strategy
significant other revenue contribution
Significant Other Revenue Contribution

Ancillary Revenues ($mill)

$62.5

$22.8

$20.9

$23.7

$17.4

$13.4

$14.7

new projects announced
New Projects Announced

Brand

Project

Screens

Projected

Opening

Barrhaven

7

Cineplex Odeon

OPEN

Aurora

10

OPEN

Cineplex Odeon

Milton

Summer 2006

Galaxy Cinemas

8

Brockville

6

Summer 2006

Galaxy Cinemas

Saskatoon

Galaxy Cinemas

12

Summer 2006

16

Summer 2006

Cineplex Odeon

Brossard

Fall 2006

12

Burloak

SilverCity

7

Collingwood

Galaxy Cinemas

Fall 2006

accomplishments 2005
Accomplishments 2005
  • Repatriation of IT function from NY
  • Vista P.O.S.
  • Digital advertising network
  • Famous Players acquisition
    • New credit facility
    • Equity offering
    • RioCan transaction
    • Divestiture process
corporate initiatives 2005 2006
Corporate Initiatives 2005/2006
  • Customer Tracking
    • Loyalty Program
    • Monetize “Value” to Distributors/Advertisers/Suppliers
  • Naming Rights
  • On-Screen Advertising Business Integration
  • Digital Advertising Pre-Show Network
  • Point-of-Sale
  • New Theatres
annual total revenue
Annual Total Revenue

($ millions)

Screen Count

annual ebitda
Annual EBITDA

($ millions)

EBITDA Margin

Adjusted EBITDA Margins – LTM March 2005:

CGX 20.2%

FP 9.0%

credit facilities and leverage
Credit Facilities and Leverage
  • Development Facility
    • Available - $60 million
  • Working Capital Facility
    • Available - $50 million
  • Term Facility
    • Available - $315 million (reduced with divestiture proceeds)
focus on value creation
Focus on Value Creation
  • The number one Canadian film exhibitor with a market share of 64.2 %+ of Canadian Box Office
  • Own and operate the five top-tier entertainment brands in Canada
  • Significant opportunities to grow distributable cash
  • Only exhibitor in Canada with a continuing build program
  • Marketing power of the brands – reach more than 85 million Canadians across the country.