EXHIBIT 11.1									



CINEPLEX ODEON CORPORATION									
														
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS									
														
(Calculated in accordance with Canadian generally accepted accounting
 principles)									
														
(In U.S. dollars, except number of shares)								
														
<TABLE>
<CAPTION>
														
														
			           		3 months ended	3 months ended		9 months ended		9 months ended								
					           Sept. 30, 1996	Sept. 30, 1995		Sept. 30, 1996		Sept. 30, 1995								
                -------------- --------------  --------------  --------------
<S>													<C>            <C>             <C>             <C>					

Basic																		
-----
																			
Net income/
(loss) (B)	    			($2,970,000)	  	$4,333,000   		($21,197,000) 		($25,923,000)								
                  ============    ==========     =============   =============																			

Weighted average 
outstanding common 
and	subordinate 
restricted voting 
shares (C)    				176,765,000  		114,769,000     	159,007,000   		114,757,000 								
                  ===========    ===========      ===========     ===========																		
	
																			
Net income(loss) 
per share (B/C)   				($0.02)       	 	$0.04        		($0.13)        		($0.23)								
                      =======         ======          =======          =======																			
																			
Fully Diluted 																		
-------------
																			
Net income/
(loss)			        	($2,970,000)  		$4,333,000    		($21,197,000)	 ($25,923,000)										
                  																		
Imputed interest on 
stock options converted																				
at beginning of year
(net of income tax 
of nil)			                 	0 	(1)        	0 	(1)           	0 	(1)       	0 	(1)									
                   -----------    -----------     ------------     -----------
																					
																					
Adjusted net 
income/(loss) (E)	($2,970,000)   	$4,333,000 	   	($21,197,000) 	($25,923,000)						
																		============    ==========      =============  ============= 			
																					
																					
Weighted average 
outstanding shares																				
- after all 
conversions (F)			176,765,000 (2) 114,769,000 	(2)	159,007,000 	(2)	114,757,000 (2)									
													     ===========     ===========      ===========      ===========								
																					
Net income(loss) 
per share (E/F)	   			($0.02)         		$0.04        		($0.13)	        	($0.23)										
																					========           =====          =======         ========
</TABLE>
														
 (1) Imputed interest calculations would be anti-dilutive and therefore
 have been excluded in calculations.														
														
 (2) Inclusion of conversions would be anti-dilutive and therefore are
 excluded in calculations. Weighted average outstanding shares after
 all conversions would be 183,362,000 for the 3 months ended
 September 30, 1996, 122,611,000 for the three months ending
 September 30, 1995, 166,082,000 for the 9 months ending
 September 30, 1996 and 122,616,000 for the 9 months ending
 September 30, 1995.