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TORONTO—Oct 7, 2008
IMAX Signs First Joint Venture Theatre Deal in Europe
Cineplexx Kinobetriebe and IMAX Enter Joint Venture Agreement for Three Theatres in Austria
IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and Cineplexx Kinobetriebe Gmbh, the largest exhibitor in Austria, today announced
a joint venture agreement to install three IMAX(R) theatres in Austria. The deal marks IMAX's first joint venture in Europe, and continues the Company's global expansion with its new digital projection system. To date, IMAX has signed contracts for more than 180 IMAX digital projection systems, with 18 currently in operation and a total of 45-50 scheduled to be in operation by year end.
The first theatre is expected to be installed in the city of Graz during the first quarter of 2009, followed by a location in Vienna the second quarter of 2009 and a third location in the city of Hohenems during the fourth quarter of 2009. All three theatres will be equipped with IMAX's new digital projection system.
"Installing IMAX theatres in our multiplexes is an enormous benefit for our business and our customers as it enables us to offer a premium immersive movie experience that consumers will be delighted to have in Austria," said Christian Langhammer and Christof Papousek, managing directors of Cineplexx Kinobetriebe. "IMAX's new digital projection system, which can be retrofitted into our existing auditoriums, combined with IMAX's joint venture business model, offers us an economical and highly efficient way to enter the IMAX business."
"This joint venture agreement is an important first step for our digital growth strategy in Europe," said IMAX's Co-Chairmen and Co-CEOs, Richard L. Gelfond and Bradley J. Wechsler. "We believe a partnership with Austria's leading exhibitor will help to strengthen our brand in the region and expand our audience base during a time when our film slate and interest from Hollywood studios is at an unprecedented level."
"There is significant potential for us in this virtually untapped market, where we can align ourselves with the country's top exhibitor to offer a whole new way to experience movies," added Larry O'Reilly, Executive Vice President of Theatre Development. "With Cineplexx Kinobetriebe's well-known marketing expertise, combined with Hollywood's biggest event movies and the IMAX brand, we believe this joint venture partnership is a natural fit for IMAX."
IMAX's digital projection system delivers The IMAX Experience(R) and helps drive profitability for studios, exhibitors and IMAX theatres by
eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX(R) 3D presentations.
Upcoming IMAX films include
Madagascar 2: Escape 2 Africa - DreamWorks Animation
The Day the Earth Stood Still - Twentieth Century Fox
Under the Sea 3D - IMAX / Warner Bros. Pictures
Watchmen - Warner Bros. Pictures / Paramount Pictures / Legendary
Monsters vs. Aliens 3D - DreamWorks Animation
Night at the Museum Battle of the Smithsonian - Twentieth Century Fox
Transformers: Revenge of the Fallen - DreamWorks Pictures /
Harry Potter and the Half-blood Prince - Warner Bros. Pictures
Hubble 3D (working title) - IMAX / Warner Bros. Pictures
How to Train Your Dragon 3D - DreamWorks Animation
Shrek Goes Fourth 3D - DreamWorks Animation
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, 2016, there were 1,215 IMAX theatres (1,107 commercial multiplexes, 16 commercial destinations and 92 institutions) in 75 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
About Cineplexx Kinobetriebe GmbH:
Cineplexx Kinobetriebe GmbH was founded in Vienna in 1993 and is a subsidiary of Constantin Film Holding GmbH. Cineplexx emerged in a time when many traditional cinemas disappeared and multiplex cinemas conquered the market. Constantin Film responded to this trend and formed a group with 27 cinemas and 177 screens. In 2009, Cineplexx INTERNATIONAL GmbH started its expansion to neighboring countries and opened its first cinema outside of Austria in Bolzano / South Tyrol. It also took over a 5-screen cinema in the city center of Zagreb and, thus, laid the cornerstone for its expansion in Croatia. In 2011 and 2012 other Cineplexx cinemas followed in Croatia, Serbia, Macedonia and Slovenia. Constantin Film Holding GmbH and its subsidiaries generated a turnover of over € 110 million in 2011 and have got around 1,100 employees.
Cineplexx Kinobetriebe GmbH Directory page
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