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		</div><p>British-based Cineworld says it has terminated its takeover of Canada’s Cineplex.</p>
<p>Cineworld PLC said the 2.8 billion Canadian dollars (£1.6 billion) was dropped after “certain breaches” of the acquisition deal.</p>
<p>The takeover would have created North America’s largest chain of movie theatres to better compete with AMC Entertainment.</p>
<p>It would have added 165 cinemas to Cineworld’s existing 786 sites and 9,500 screens. AMC Entertainment owns or operates about 1,000 theatres around the world.</p>
<p>But the coronavirus pandemic has closed theatres for months and the continued appeal of cinemas is in doubt as major media companies are investing heavily in streaming services.</p>
<p>Cineplex has a 75% box office market share in Canada.</p>
<p>Cineworld did not outline the specifics of what parts of the transaction it believes Cineplex ran afoul of, but the London-based company noted that Cineplex has denied any such breaches.</p>
<p>A representative for Cineplex could not be immediately reached for comment</p>
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