By David Hains and Jack Hauen
It's showtime
There's good news for Ontario's popcorn lovers.
Cineplex, the largest movie theatre chain in the country, will be rolling out the metaphorical red carpet for patrons in additional parts of the province as of Friday.
That includes theatres in Brantford, Cornwall, Ottawa, Sarnia and Sudbury. Those cities will join Belleville, Kingston, Owen Sound, Peterborough and Sault Ste. Marie, which were already open due to their low levels of COVID-19.
"We are excited to welcome our guests back to select Cineplex theatres across the province, as nothing compares to the big screen experience that we’ve all been missing," said Cineplex spokesperson Sarah Van Lange in a statement, trying to highlight what separates movie theatres from streaming options at home during a pandemic.
"We continue to prioritize health and safety measures to ensure that our theatres are a safe, relaxing, and inviting space for movie-lovers to unwind and escape with family and friends," she added, emphasizing health measures during a time when many people are skeptical of gathering in a crowd.
Movie theatre operators during the pandemic have tried to highlight their safety, as the sites have not been the subject of major outbreaks and there are distancing and mask policies to adhere to. In Ontario, that means that theatre patrons must wear masks during the movie. There are also capacity limits — for theatres in green and yellow zones they can have a maximum of 50 people per theatre, and in orange zones, it's just 50 people per building.
The pandemic has brought significant challenges to the industry, which relies on a steady supply of customers to see the latest blockbuster each weekend. Studios have held back many of their most promising films, fearful that they would be foregoing significant revenue by releasing them in an adverse environment. Some companies, like Warner Bros. and Disney, plan to release some or all films on streaming platforms for the near future. And that's on top of the increasing threat posed by Netflix, which plans to release a new original film every week in 2021.
The financial strain has been felt in various ways for Cineplex. The company was set to be bought out by the U.K.-based Cineworld for $2.8 billion, but that deal fell through after the pandemic struck and is now the subject of litigation. Cineplex is currently looking to sell its Toronto headquarters to raise cash to meet credit obligations, and also sold two esports subsidiaries in 2020.
Cineplex stock has fallen from over $33 a year ago amid the potential acquisition to just under $14 today.
Films that Cineplex will offer in theatres as of Friday include Wonder Woman 1984, Tom and Jerry, The Croods 2: A New Age, and Judas and the Black Messiah.
Hydro One earnings
Hydro One saw its fourth-quarter earnings decline year-over-year as the company grappled with additional costs associated with the pandemic.
The Toronto-based utility, whose largest shareholder is the government of Ontario, saw earnings per share at 27 cents, down from 35 cents in the fourth quarter last year. That's despite an 8.7 per cent increase in revenue from $1.72 billion to $1.87 billion.
The quarterly dividend will be $0.25 a share, payable March 31.
"During a year that challenged us all, we remained guided by our corporate strategy as well as our commitment to protect employees and support customers and communities," stated CEO Mark Poweska, both acknowledging the larger turbulence while maintaining a commitment to the company's current course.
"We are here to help our customers who are struggling so they can focus on what matters – staying safe and making it through this challenging time."
The company has seen growth under Poweska's management. While the stock price dipped below $27 on the earnings news, it reached a new high in late January. That came despite the pandemic and pitched controversy surrounding the company before Poweska came aboard, including political controversies about former CEO Mayo Schmidt, executive compensation and the Avista acquisition that was kiboshed by U.S. regulators.
Laurentian update
Minister of Colleges and Universities Ross Romano was asked about the status of Laurentian University, the Sudbury school undergoing a financial crisis, where faculty and student associations have urged the government to take <a href="https://www.thesudburystar.com/news/local-news/minister-province-have-abandoned-laurentian-faculty" target="_blank" rel="noopener">immediate action</a>.
Romano, a Sault Ste. Marie MPP, said that he was worried about the situation but did not suggest that the government is prepared to take any particular course of action.
"We are all very deeply concerned about what is happening at Laurentian University," he said, negatively comparing the financial troubles of the school to Algoma Steel. He added that the government is "monitoring very closely" the situation, and placed an emphasis on looking out for the interests of students, rather than faculty. "We are very concerned for the students and we want to make sure that no student is going to be impacted as a result of what is occurring in the (Companies' Creditors Arrangement Act) proceedings."
Romano added that he is limited by what he can say because the process is before the courts.
Laurentian has about 9,000 students and 850 employees.
Building back better
Municipal Affairs Minister Steve Clark announced the extension of a pilot that helped cities and towns repair and improve infrastructure.
Under the "Build Back Better" program, municipalities could get 15 per cent above the estimated cost of rebuilding damaged roads, bridges or public buildings — "so they could not only build back damaged infrastructure but build it back better, to make it more resilient to extreme weather in the future," Clark said at the Ontario Good Roads Association's annual conference.
What started as a $1 million program in 2019 after that year's particularly bad spring flooding will be extended through 2023 with another $2 million, Clark said.
Municipalities can use the funding to raise roads to help water flow over them better, improve columns on bridges or enlarge ditches, he said.
"The safety of Ontarians is a top priority of our government," he said, noting the spring flooding season is fast approaching.
Liberal platform ideas
Speaking of rebuilding, Liberal Leader Steven Del Duca also spoke at the conference, promising a centrist party platform inspired by famous anti-capitalist Martin Luther King, Jr. 
"I feel that fierce urgency of now that Martin Luther King, Jr. spoke of so eloquently so many years ago," Del Duca told OGRA members.
Later, he added: "And while it's going to take us as a party some time to hammer out the details, I can tell you that the next Ontario Liberal platform will be situated on what I like to call the responsible centre of our political spectrum, rejecting both left- and right-wing extremes."
He promised that under a Liberal administration, government purchasing would prioritize Ontario producers, "so that our home-grown entrepreneurs can thrive and create the good jobs that we need."
He added that "reliable and affordable" broadband internet is "essential" for every Ontarian, promising a provincewide plan to deliver it.
Del Duca also promised a care system that prioritizes helping seniors stay in their homes as they age; to <a href="https://www.nationalobserver.com/2021/02/23/news/ontario-opposition-parties-vow-undo-fords-weakening-conservation-authorities-permits" target="_blank" rel="noopener">reverse</a> the "gutting" of conservation authorities; and to discuss a provincial upload of "critical roads and bridges, that local property taxes can no longer sustain."
Building highways is important, but should be limited, he said. The Trans-Canada should be expanded in the north and east, and cross-border commercial connections with the United States should be "more efficient and more effective."
Del Duca also promised more investment in public transit and zero-emission vehicle and infrastructure, and climate-resilient buildings.
&nbsp;

In brief: More movie theatres open, Hydro One announces earnings, a Laurentian College update

Read this for free.