Cineplex sells its digital place-based media division to Creative Realities for $70 million

Goodmans LLP acted for Cineplex Inc., Canada's leading entertainment and media company, in connection with the sale of its digital place-based media division, Cineplex Digital Media (“CDM”) to Creative Realities, Inc., a U.S.-based signage solutions and experiences company, for a total purchase price of $70 million in cash, subject to customary post-closing adjustments.

CDM offers digital signage for a wide range businesses including retailers and banks as well as digital menu boards for restaurants. As part of the transaction, Cineplex has entered into a long-term agreement to continue as CDM's exclusive advertising sales agent for CDM operated digital-out-of-home networks across Canada.