Find Companies:
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Digital Cinema Technology Apr. 18, 2014
Please Login
Login/Signup
Sponsors

RSS News
RSS Info About RSS

Member
logo
logo
logo
logo
logo

# 1930 GE

Skip Navigation LinksStart / Menu > Find Press Releases > Full Press Release
New York, N.Y.—Jul 16, 2012

IMAX and TGV Cinemas Expand Joint Revenue Share Agreement with Seven Additional IMAX® Theatres in Malaysia

Deal Brings Exhibitor's IMAX Footprint to Eight with Two Locations Slated to Open in 2012
IMAX Corporation (NYSE: IMAX; TSX: IMX) and TGV Cinemas Sdn Bhd (TGV Cinemas), one of Malaysia's premier film exhibition companies, today announced an expansion of the parties' joint revenue sharing agreement announced in October 2011 to include the installation of seven additional IMAX® theatre systems.

Today's deal brings to eight the exhibitor's total IMAX commitment and brings to 321 the total number of IMAX theatres open or contracted to open in the Asia Pacific region.

Under the terms of the new agreement, the first IMAX theatre is scheduled to open in a new construction project in the city of Bandar Utama in the fall, with the second theatre opening in December 2012 in an existing multiplex in Johor Bahru.  The third and fourth IMAX theatre systems will also be located in new construction projects in the cities of Penang and Kuala Lumpur, which are slated to open in December 2013 and December 2015, respectively. Locations for the remaining three theatres will be determined by the parties at a later date.

"IMAX's immersive experience makes our guests feel like they're a part of the blockbusters - something no other cinematic format or in-home entertainment option can replicate," said Kenny Wong, CEO of TGV Cinemas. "Our first IMAX theatre has been a tremendous success and we are keen to build on this momentum with today's agreement. We're confident that our new IMAX theatres will continue to strengthen our business and delight our guests."

"With a large population and growing middle-class fueling consumer demand for entertainment options, Malaysia is a key area of growth for IMAX in the Asia Pacific region," said IMAX CEO Richard L. Gelfond.  "It is great to see TGV already realizing value from its first IMAX theatre in such a short period of time and together we look forward to bringing our unparalleled movie-going experience to more audiences throughout Malaysia."  "We are pleased to expand our relationship with TGV - a strategic partner that is committed to delivering the best cinematic experiences and developing IMAX as a premium brand in Malaysia," said Don Savant, Senior Vice President and Managing Director, Asia Pacific. "With today's agreement, TGV will bring IMAX theatres into high-growth areas further supporting our expansion efforts in this key part of Asia."


About IMAX Corporation: IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.  IMAX is headquartered in New York, Toronto and Los Angeles, with offices in
London, Tokyo, Shanghai and Beijing.  As of Dec. 31, 2013, there were 837 IMAX theatres (701 commercial multiplexes, 19 commercial destinations and 117 institutions) in 57 countries.
IMAX Corporation Directory page About TGV Cinemas Sdn Bhd.:
TGV Cinemas Sdn Bhd (TGV Cinemas) is a wholly-owned subsidiary of Tanjong Public Limited Company (www.tanjongplc.com). Tanjong is incorporated in England and is an investment holding company with interests  in leisure and property investment. Since its inception in 1995, TGV Cinemas pioneered the multiplex cinema concept and has grown to become one of Malaysia's premier film exhibition companies with 141 screens homed in 18 multiplexes located at major cities. Today TGV continues to bring new frontiers to its cinema-goers by being the first to introduce the 'Beanieplex' movie hall which is Malaysia's first and only cinema hall featuring bean bag seats and TGV Club, a premier concept complete with exclusive club halls, a lounge area and superior services TGV Cinemas will soon expand nationwide with new cinema openings in One Utama, Cheras Sentral, Setia Walk and Station 18 by the end of 2012.
TGV Cinemas Sdn Bhd. Directory page
Similar Press Releases
More PR About: Large Format Digital More
©Copyright 2003-2011 WHMCC, LLC. All rights reserved.   | Contact | Terms of Use | Privacy Statement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
banner