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Toronto, ON—Jan 9, 2012
IMAX Signs Joint Revenue Sharing Agreement with Cinémas Guzzo in Canada
Montreal-based exhibitor to open four IMAX® Theatres in Quebec in 2012
IMAX Corporation (NYSE:IMAX) (TSX:IMX) and Cinémas Guzzo today announced a joint revenue sharing agreement to install four digital IMAX® theatre systems throughout the greater Montreal area in Quebec. This agreement brings the total number of IMAX® theatres open or contracted to open in Canada to 30.
Under the terms of the agreement, all four theatres are scheduled to open in 2012 in existing Cinémas Guzzo Mega-Plexes that include: Mega-Plex Taschereau 18 in Brossard; Mega-Plex Pont-Viau 16 in Laval; Mega Plex Terrebonne 14 in Terrebonne and Mega Plex Marché Central 18 in Montreal.
"We believe our patrons deserve the best cinematic experience available. With more and more guests demanding the powerful and immersive movie-going experience that only IMAX can offer, we are very proud to give our patrons what they crave," said Vincenzo Guzzo, Executive Vice President, Cinémas Guzzo. "We expect the addition of four IMAX theatres to our circuit to be a key driver in our overall growth strategy that will set us apart from competitors and drive box office success."
"Today's agreement with Cinémas Guzzo highlights the focus of our domestic growth strategy with regional exhibitors," said IMAX CEO Richard L. Gelfond. "Over the past two years, we have more than doubled our commercial theatre presence in Canada, and we are pleased to continue that momentum with Guzzo, the largest regional exhibitor in Quebec."
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.
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 Cinemas Guzzo:
Part of the Quebec cinema scene since 1974, the family-owned Cinémas Guzzo was founded by Angelo Guzzo, who for many years led the struggle for independent movie theatre owners to obtain the right to project first-run movies, thus opening the way for others. Angelo Guzzo and son Vincenzo continue to work as a team to bring moviegoers the best that cinema has to offer. The company has more than 142 screens, which will be 100% digital by May 2012, mainly in the Montreal area, and supports environmental cancer research through the Guzzo family Foundation.
Cinemas Guzzo Directory page
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