IMAX Corporation (NYSE: IMAX; TSX: IMX) and Cinema Park, an exhibition chain owned by Profmedia, Russia's largest media holding company, today announced an agreement to install four IMAX® theatres across Russia. Under the terms of the agreement, the exhibitor will open the theatres in new construction projects in regional markets including the cities of Novokuznetz and Kemerovo. The deal brings Cinema Park's total IMAX commitment to 26 theatres, further strengthening its position as the largest IMAX exhibitor in EMEA.
"The expansion of our partnership with IMAX is a direct result of the success we've experienced with our current IMAX theatres, which represent some of the top-performing sites in our circuit," said Sergei Kitin, General Director of Cinema Park. "The demand for IMAX among Russian audiences continues to grow and we're delighted to offer even more patrons the most immersive movie-going experience available."
"Today's announcement underscores the opportunity we continue to realize across Russia - one of IMAX's strongest and fastest-growing markets globally," said Andrew Cripps, President, IMAX EMEA. "We value our strategic partnership with Cinema Park, whose exceptional brand recognition and in-depth understanding of regional markets has helped to accelerate our growth in Russia."