IMAX Expands Relationships with Existing Exhibitors for Five IMAX® Theatres
LONDON, Oct. 23, 2012 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX; TSX: IMX) today announced it has signed agreements with three existing exhibition partners to open a total of five IMAX® theatres in new and existing projects across Europe, including the Netherlands, England and Austria.
Pathe Theatres, operator of the largest chain of cinemas in the Netherlands, will open three IMAX theatres in existing multiplexes throughout the country, including two in The Hague and Tilburg and a third at a location to be determined at a later date.
Austrian exhibitor Cineplexx will also expand its IMAX commitment with the addition of a theatre in Vienna at its Donauplex 13 complex.
Odeon & UCI Cinemas Group, the largest operator of IMAX theatres in Europe, the Middle East and Africa, will add an IMAX theatre as part of its new 11-screen multiplex at The MK Dons Stadium in Milton Keynes, UK, due to open in 2014.
"Europe continues to be a key strategic focus for IMAX and we're delighted that many of our existing exhibition partners are increasing their IMAX business," said Andrew Cripps, President, IMAX EMEA. "Today's announcement not only underscores the growth opportunities that exist in the region, which has approximately 450 million consumers, but it's also an endorsement of the confidence exhibitors have in IMAX to deliver audiences a differentiated experience and drive incremental revenue to their multiplexes."
About IMAX Corporation
IMAX Corporation is one of the world's leading entertainment and technology companies, specializing in the creation and delivery of premium, awe-inspiring entertainment experiences. With a growing suite of cutting-edge motion picture and sound technologies, and a globally recognized entertainment brand, IMAX is singularly situated at the convergence of the entertainment industry, innovation and the digital media world. The industry's top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and as such, the IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe. The Company's new digital projection and sound systems - combined with a growing blockbuster film slate - are fueling the rapid expansion of the IMAX network in established markets such as North America, Western Europe, and Japan, as well as emerging markets such as China and Russia. IMAX deliver the world's best cinematic presentations using proprietary IMAX®, IMAX® 3D, and IMAX DMR® (Digital Re-Mastering) technologies. IMAX DMR enables virtually any motion picture to be transformed into the unparalleled image and sound quality of The IMAX Experience®.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of June 30, 2012, there were 663 IMAX theatres (529 commercial multiplex, 20 commercial destination and 114 institutional) in 52 countries.
This press release contains forward looking statements that are based on IMAX 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. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.