|Texas Instruments Announces IMAX(R) Digital Projection System to be Powered by DLP Cinema(R)|
2008 marks the 10th Anniversary of digital cinema led by DLP Cinema
LAS VEGAS, NV, March 11 /PRNewswire-FirstCall/ - Texas Instruments (TI) (NYSE: TXN) DLP Cinema(R) announced today at ShoWest that IMAX(R) Corporation (Nasdaq: IMAX) will incorporate the DLP Cinema projector solution. Under the terms of the agreement, each IMAX(R) Digital projection system to be deployed to commercial exhibitors around the world, scheduled to begin mid-2008, will be powered by DLP Cinema projectors.
"We are excited to formalize our partnership with DLP Cinema, and believe their technology will help ensure that our digital projection system delivers the best cinema experience available to audiences," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "We've evaluated competing cinema projection technology and found DLP Cinema to be the ideal match for the launch of the IMAX Digital projection system."
IMAX's highly anticipated digital projection system integrates a suite of proprietary IMAX intellectual properties with the DLP Cinema projector solution in a way that creates The IMAX(R) Experience in a digital format.
IMAX's transition to digital will help to drive profitability for studios, exhibitors and IMAX(R) theatres by virtually eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of films shown on IMAX screens. With the implementation of DLP Cinema technology, IMAX moviegoers will experience precise, lifelike images in vibrant colors, delivered through the millions of microscopic mirrors on the DLP Cinema chip.
"We are proud to work with IMAX in its development and rollout of the best digital cinema experience in the market," said Nancy Fares, Business Manager for DLP Cinema Products Group. "DLP Cinema projectors are the heart of every digital 2D and 3D movie experience for traditional and now large format venues. We look forward to participating in their move to digital in the months ahead."
Digital cinema installations continue to be catalyzed by the increasing release of 3D film. The 3D movie format is severing as a revenue driver for the film industry overall, and has gained a resurgence of interest by moviegoers. IMAX has been a leader in 3D content, especially since the overwhelming box office success of The Polar Express: An IMAX 3D Experience, which has grossed more than $65 million in IMAX theatres around the world since it opened in 2005. More recently, Beowulf: An IMAX 3D Experience grossed $25 million, representing a per screen average of more than $185,000.
10 Years of Digital Cinema
2008 marks the 10th Anniversary of DLP's entrance into the cinema industry, with the first fully functional and Hollywood endorsed digital DLP Cinema movie projector. After years of prototypes, DLP had delivered Hollywood's biggest image critics and cinematographers with a digital projector that met the world's highest standards on color, brightness and reliability and therefore pioneered the digital cinema concept. A year later in 1999 the studios released the first movie in digital format on DLP Cinema which was Star Wars: Episode I - The Phantom Menace. DLP Cinema honors the heritage of the ultimate viewing experience while incorporating the latest technology innovations, such as the 3D single projector solution, and cutting costs for cinema exhibitors, distributors and ultimately the consumer.
Celebrating its 10th year in the film industry, DLP Cinema projection technology is installed in over 6,000 theatres on every continent except Antarctica. Today there are more than 1,200 theatres in the country that offer the digital 3D experience powered by DLP Cinema technology, and this number will continue to increase as more DLP projectors are deployed globally.
About DLP Cinema
DLP Cinema is a proprietary technology that delivers clear, sharp, bright and accurate images to movie theatres globally. To manufacture and market under the DLP Cinema trademark, technology licensees, including Barco, Christie and NEC, must meet stringent standards and guidelines meant to ensure the best possible performance and picture quality. This digital picture and standard of excellence ensures that a DLP Cinema movie screening looks flawless and each showing is as perfect as the first with no annoying scratches, tears or weaving that detract from the movie-going experience. For more information, or to find a DLP Cinema theatre near you, please visit www.dlpcinema.com.
About Texas Instruments DLP Products
DLP display technology from Texas Instruments offers clarity down to the most minute detail, delivering pictures rich with color, contrast and brightness to large-screen HDTVs and projectors for business, home, professional venue and digital cinema (DLP Cinema(R)). 50 of the world's top projection and display manufacturers design, manufacture and market products based on DLP technology. DLP is the only HDTV technology built from a foundation in the digital cinema where it set the industry standard demonstrated by the deployment of DLP Cinema technology in 5,971 theatres worldwide. At the heart of every DLP chip is an array of up to 2.2 million microscopic mirrors which switch incredibly fast to create a high resolution, highly reliable, full color image. DLP technology's chip architecture and inherent speed advantage provides razor-sharp images and excellent reproduction of fast motion video. Since early 1996, more than 15.5 million DLP subsystems have been shipped. For more information, please visit www.dlp.com. About Texas Instruments: Texas Instruments (NYSE: TXN) helps customers solve problems and develop new electronics that make the world smarter, healthier, safer, greener and more fun. A global semiconductor company, TI innovates through manufacturing, design and sales operations in more than 25 countries. For more information, www.ti.com. DLP and DLP Cinema are registered trademarks of Texas Instruments.
About IMAX Corporation
IMAX Corporation is one of the world's leading digital entertainment and technology companies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR technology. IMAX DMR is the Company's groundbreaking digital remastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience. IMAX's renowned projectors and new digital systems display crystal-clear images on the world's biggest screens. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2007, there were 296 IMAX theatres operating in 40 countries.
IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX MPX(R), and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com.
This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's financial reporting and accounting, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, the performance of films, the viability of new businesses and products, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format and general commercial exhibition market. These factors and other risks and uncertainties are discussed in the Company's Annual Report on Form 10-K/A for the year ended December 31, 2006, as well as the Company's Quarterly Reports on Form 10-Q/A and Form 10-Q.
SOURCE IMAX Corporation -0- 03/11/2008 /CONTACT: Kateri Gemperle, TI DLP Products, (214) 567-3617, Kateri@ti.com; Jessika Goldstein, Waggener Edstrom Worldwide, (425) 638-7000, firstname.lastname@example.org; Sarah Gormley, IMAX Corporation, (212) 821-0100, email@example.com/ (IMX. IMAX) CO: IMAX Corporation ST: Nevada IN: ENT FLM SU: -30- EC -- TO474 -- 6505 03/11/2008 20:10 EDT http://www.prnewswire.com