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Corporate Restructuring
In December of 1993, it was announced by Michael Herman (Cineplex Odeon Films Canada Senior Vice President of Corporate Affairs) that as part of a corporate restructuring, Bryan Gliserman had been appointed to the role of Senior Vice President of Corporate Affairs effective January 17th, 1994. Gliserman would oversee all of Cineplex Odeon Films operations, and will be responsible for the maintenance and improvement of Cineplex Odeon Films distribution services. Gliserman would also build relationships with key suppliers like Columbia/Tri-Star, Savoy Pictures and Gramercy Pictures. Prior to his promotion, Gliserman had spent 17 years in the Canadian film industry. He had experience with development, financing, production, distribution and exhibition posts with a wide variety of organization.

The Cineplex Odeon Corporation was created in 1979 by Garth Drabinsky and Nathan Taylor. The first cineplex was opened at the Eaton Centre in Toronto, Ontario. Cineplex ultimately went bankrupt in 2001, after changing ownership numerous times.

In 1999, former Cineplex executives Ellis Jacob and Steve Brown created their own company called Galaxy Entertainment. By 2003, Galaxy Entertainment had amassed 19 theatres and $75 million in box office revenue. At this point, Cineplex Odeon was emerging from bankruptcy. Galaxy saw this as the perfect opportunity to increase shareholder value, and sought to acquire Cineplex Odeon, and the two companies were eventually merged into one. After the merger, Cineplex Odeon and Galaxy Entertainment became a publicly traded company, forming the Cineplex-Galaxy Income Trust.

Cineplex Odeon had grown to become one of the largest film exhibitors in North America by 1993, with 1,630 screens and operations in 365 locations within North America. At this point, Cineplex Odeon accounted for roughly 8% of box office revenues in North America, competing mostly with Famous Players in the Canadian market. Cineplex Odeon and Famous Players were two dominant forces in the Canadian film industry, with both organizations accounting for roughly two-thirds of the industry’s annual revenues. The key to the success of the two organizations was in large part due to their supply chain. Cineplex Odeon had exclusive first-run rights to films made by Columbia and Universal Studios, which allowed them to seize a hefty market share.

Controversy surrounded the practices of both Cineplex Odeon and Famous Players in 1998. The two companies had been accused of operating as a duopoly, and choking off the film supply so smaller theatres could not show the same products. On December 16th, 1998 however, the tides began to turn with AMC Entertainment’s announcement of Canadian expansion. AMC opened it’s first Canadian theatres in Oakville, and Toronto, Ontario, and had opened 15 theatres by 2000.