Most famously, Famous Players Theatres allowed the lease on a property containing the entrance of one of its flagship Toronto locations, the Imperial Six, to lapse in 1986. Cineplex immediately took over the lease, denying Famous Players Theatres access to the portion of the property that they already owned outright. Famous Players eventually sold its property to Cineplex Odeon Cinemas, on the condition it never again be used to show filmed entertainment. Cineplex's live-theatre division renovated the theatre; renamed the Pantages Theatre, it hosted "The Phantom of the Opera" for ten years. The theatre was renamed the Canon in 2001 and then again in 2011 as the Ed Mirvish Theatre, which it is currently known, in honour of the popular businessman and ironically Mr. Drabinsky's main competitor in live theatre in Toronto. Famous Players expanded throughout the 1990s. Under chairman John Bailey, Famous Players re-built its infrastructure from 1996 to 2003 with new "megaplex" theatre brands featuring stadium seating, such as SilverCity and Coliseum, with food courts and video games. Around that time, AMC Theatres entered the Canadian market, and most of the traditional ties between the existing chains and the major studios began to unwind, putting all three chains in full-on competition in several major markets. The company once operated a number of drive-in theatres, but most have been closed and replaced with modern theatres. Until 2004, it operated theatres in the Maritimes, none of which were branded-concept theatres; these were sold to the region's dominant exhibitor, Empire Theatres. In February 2005, Viacom announced the sale of Famous Players for $400 million. Cineplex Galaxy, controlled by Onex Corporation acquired Famous Players from Viacom for $500 million (about US$397 million) in June 2005, with the deal being completed on July 22. To satisfy antitrust concerns, on August 22, 2005 the group announced the sale of 27 locations in Ontario and western Canada to Empire Theatres. In December 2019, UK-based Cineworld plans to acquire the now renamed Cineplex Entertainment which will see the former 47 Famous Players theatres into the fold. The sale will make Cineworld the largest cinema chain in North America with the ownership of Regal Cinemas. The company stated that Cineplex's operations were to be integrated with Regal, and that it planned to reach $120 million in cost efficiencies and revenue synergies including the adoption of a subscription service scheme similar to Regal and Cineworld.