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 Dec. 04, 2016
Please Login
Login/Signup
Sponsors

RSS News
RSS Info About RSS

Member
logo
logo
logo
logo
logo

# 1938 Baird.

Skip Navigation LinksStart / Menu > Find Press Releases > Full Press Release
New York, N.Y. and Kansas City, Mo.—Dec 7, 2007

IMAX Signs 100-Theatre Deal With AMC Entertainment™

Joint Venture Capitalizes on IMAX's Digital Projection Technology; AMC Makes IMAX Key Part of Growth Strategy to Deliver the Premium Entertainment Experience
IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and AMC Entertainment Inc. (AMC), one of the world's largest and most innovative theatrical exhibition companies, today announced a joint-venture agreement to install 100 IMAX® digital projection systems at AMC locations in 33 major U.S. markets. The theatres will feature IMAX's digital projection system which is being developed for the IMAX MPX® theatre design. The agreement is projected to double IMAX's current commercial theatre footprint in North America and accelerates the momentum behind IMAX and AMC's transition to digital projection technology.

"We are committed to delivering a premium entertainment experience by offering a menu of entertainment alternatives inside our facilities," said Peter C. Brown, chairman and chief executive officer, AMC Entertainment Inc. "Our expanded relationship with IMAX and the deployment of its state-of-the-art, next-generation digital projection systems is a key part of our strategy of continuing to broaden and enhance the AMC experience. It also builds on the successful partnership we have had with IMAX since June of 2005 and complements our overall digital plan."

The rollout of the first 50 IMAX digital projection systems will begin in July 2008 at premier AMC theatre locations in 24 of the 33 selected markets, with an additional 25 scheduled for rollout in 2009 and 25 more in 2010. The IMAX theatres are slated to be installed in many of AMC's top-performing locations in the United States, including: AMC South Barrington 30, Chicago; AMC Mesquite 30, Dallas; AMC Gulf Pointe 30, Houston; AMC Century City 15, Los Angeles; AMC Empire 25, New York; AMC Neshaminy 24, Philadelphia; AMC Eastridge 15, San Francisco; AMC Hoffman Center 22, Washington D.C.

"The agreement cements a partnership between two great brands. Partnering with AMC in a theatre deal of this size and scope is a transformational moment for our company from both a financial and strategic perspective," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "We couldn't be more pleased that The IMAX Experience(R) will be more accessible to consumers in nearly every major market in the United States. AMC is unique in the number of successful, stadium-seat megaplexes in locations that could accommodate this large number of new IMAX® theatres. Further, AMC's confidence in our digital projection system is a terrific endorsement. We look forward to rolling out our ground-breaking new technology and delivering the premium experience that moviegoers have come to expect from the IMAX® brand."

In October of this year, IMAX announced that it had moved up the launch date of its digital projection system to mid-2008 from its previously announced anticipated timeframe of the end of 2008 to mid-2009. The highly anticipated IMAX digital projection system will further enhance The IMAX Experience and help to drive profitability for studios, exhibitors and IMAX theatres by virtually eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens.

IMAX has already secured important parts of its film slate for 2008, 2009 and 2010 through agreements with major Hollywood studios including: The Spiderwick Chronicles (February 2008), Shine A Light (April 2008), Kung Fu Panda (June 2008), The Dark Knight (July 2008), Deep Sea-quel 3D (working title, February 2009), Monsters vs. Aliens 3D (March 2009), How to Train Your Dragon 3D (November 2009), Hubble 3D (working title, February 2010) and Shrek Goes Forth 3D (May 2010).

Added Messrs. Gelfond and Wechsler, "An agreement of this magnitude significantly jumpstarts our joint venture initiative, which we expect will generate increased recurring revenues for IMAX going forward. AMC's decision to enter into this agreement will accelerate the growth of our theatre network in North America and should help power the digital transition underway at our company, which we believe will help drive our operating and financial performance for years to come."
About AMC Entertainment: AMC (NYSE: AMC) is the guest experience leader with 387 locations and 5,426 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country’s top markets, including No. 1 market share in the top three markets (NY, LA, Chicago) AMC Entertainment Directory page 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 September 30, 2015, there were 1,008 IMAX theatres (887 commercial multiplexes, 19 commercial destinations and 102 institutions) in 66 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."
IMAX Corporation Directory page
Similar Press Releases
More PR About: Premium Large Format More
©Copyright 2003 - 2016 WHMCC, LLC. All rights reserved.   | Contact | Terms of Use | Privacy Statement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
banner