Cineplex To Sell Cineplex Digital Media To Creative Realities For $70 Mln, Stock Up In Pre-Market

Core Points - Cineplex Inc. announced the sale of its digital place-based media division, Cineplex Digital Media, to Creative Realities Inc. for a total purchase price of $70 million in cash [1] - The transaction is expected to strengthen Cineplex's balance sheet and provide capital for share buybacks and debt reduction [1] - Cineplex will continue as the exclusive advertising sales agent for Cineplex Digital Media's operated digital-out-of-home networks across Canada [2] - The CEO of Cineplex highlighted that the deal will provide meaningful capital to enhance shareholder value [3] - Following the announcement, Creative Realities Inc.'s stock rose by 10.53% to $2.94 on the Nasdaq [3]