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Toronto—Jan 13, 2009
National Amusements' Rising Star Media Expands IMAX Network in Russia
IMAX's Digital Projection System Continues to Drive Expansion in European Markets
IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and Rising Star Media, a joint venture between National Amusements, Inc. and Soquel Ventures, today announced an agreement to install an IMAX® theatre at Rising Star's KinoStar City multiplex at Mega Belyadacha regional mall in Moscow, Russia. Scheduled to be installed in Moscow shortly, the new theatre will utilize IMAX's new digital projection system. The deal is one of a number of recent significant international deals signed by IMAX, indicating enthusiasm by European exhibitors in the IMAX theatre business following the North American rollout of IMAX's digital projection system.
National Amusements currently operates seven IMAX theatres in the United States, one in Argentina and one in St. Petersburg, Russia.
"The IMAX theatre business has proven to be very effective for both Rising Star Media and National Amusements, and we are very excited to expand with more locations in Russia," said Shari E. Redstone, who leads Rising Star Media and is president of National Amusements, Inc. "IMAX's digital projection system allows greater program flexibility, which enables us to offer our customers even more movies in a truly unique and immersive way.
Hollywood directors are discovering the excitement that the IMAX technology adds to a film, and as a result we are looking forward to being able to present more unique film experiences to our patrons."
"Russian moviegoers love The IMAX Experience®," said Paul B. Heth, who directs Rising Star Media. "Our partnership with IMAX has cemented Rising Star Media's position as a high-tech leader in the Russian exhibition business. We look forward to expanding our IMAX theatre network into Moscow, and through the economical and logistical advantages of IMAX's new digital projection system, we are able to open quickly to take advantage of the amazing IMAX film slate in 2009."
"Our digital projection system has boosted interest from Hollywood studios and exhibitors worldwide, and we're particularly encouraged by the interest we're starting to see in Europe," said IMAX Co-CEOs and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "Russia continues to play a key role in our European expansion strategy, and we're pleased to see top exhibitors who are already in the IMAX business open additional IMAX theatres."
"National Amusements and Rising Star Media have both been fantastic partners and we're delighted to expand our relationship with them as we continue to grow the IMAX network in Russia," added Larry O'Reilly, IMAX's Executive Vice President of Theatre Development. "Rising Star Media operates a successful IMAX theatre in St. Petersburg, and we're confident that their location in Moscow will be well received by moviegoers as well."
IMAX's digital projection system delivers The IMAX Experience 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®3D presentations.
Upcoming IMAX films include:
The Dark Knight - (re-release) Warner Bros.
Pictures Under the Sea 3D - IMAX/Warner Bros. Pictures
Watchmen - Warner Bros. Pictures/Paramount Pictures/Legendary Pictures
Star Trek - Paramount Pictures Monsters vs. Aliens 3D - DreamWorks Animation
Night at the Museum Battle of the Smithsonian - Twentieth Century Fox
Transformers: Revenge of the Fallen - DreamWorks Pictures/Paramount Pictures
Harry Potter and the Half-blood Prince - Warner Bros. Pictures
Avatar - Twentieth Century Fox A Christmas Carol - Walt Disney Pictures
Hubble 3D (working title) - IMAX/Warner Bros.
Pictures How to Train Your Dragon 3D - DreamWorks Animation
Shrek Goes Fourth 3D - DreamWorks Animation
About National Amusements:
National Amusements, Inc., is a world leader in the motion picture exhibition industry operating more than 925 movie screens in the U.S., U.K. and Latin America.
National Amusements delivers a superior entertainment experience in theatres around the world under its Showcase, Multiplex, SuperLux and Cinema de Lux brands. Based in Norwood, Massachusetts, National Amusements is a closely held company operating under the third generation of leadership by the Redstone family. National Amusements is also an equal partner in the online ticketing service MovieTickets.com and is the parent company of both Viacom and CBS Corporation. Visit them at www.showcasecinemas.com.
National Amusements Directory page
About Rising Star Media:
Rising Star Media, owned by Shari E. Redstone and Paul B. Heth in partnership with UFG Asset Management, is Russia's leading international theatrical exhibitor with Russia's top grossing cinema complexes in Moscow and St. Petersburg. Rising Star Media was established with the goal of creating a world-class cinema circuit in the rapidly expanding Russian market.
Rising Star Media 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
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