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New York—Mar 18, 2013
IMAX® and Mars Entertainment Group Sign Agreement to Open Three Theatres In Turkey
IMAX to be Anchor Entertainment Attraction in Exhibitor's Expansion Plans across Country
IMAX Corporation (NYSE: IMAX; TSX: IMX) and Mars Entertainment Group today announced an agreement for three IMAX® theatres to be installed in cities throughout Turkey. The deal brings to five the exhibitor's total IMAX commitment, with two theatres currently in operation in the cities of Ankara and Istanbul.
"IMAX delivers a differentiated entertainment experience that has been a tremendous success among our patrons," said Muzaffer Yildirim, CEO, Mars Entertainment Group. "In fact, the gross box office revenues of our IMAX theatres in Istanbul and Ankara continuously over-perform their targets over the previous year. As we begin our aggressive expansion program in Turkey, IMAX will serve as a key component to our growth strategy and help to strengthen our overall business in the country."
"We continue to deliver on our objective to expand our international footprint, and we believe there is increasing demand for IMAX theatres in Europe," said IMAX Chief Executive Officer Richard L. Gelfond. "With a focus on tailoring our programming in international markets and partnering with leading international exhibitors, such as Mars Entertainment Group, we expect to set the stage for continued growth in Europe."
"Turkey is an underpenetrated market, both from an overall cinema and IMAX standpoint," said Andrew Cripps, President, IMAX EMEA. "We're delighted to expand our partnership with Turkey's leading exhibitor and work together to capitalize on the growth potential that exists in this burgeoning market and bring The IMAX Experience® to more audiences across Turkey."
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 Mars Entertainment Group:
Headquartered in Istanbul, Mars Cinema Group is the leading cinema circuit in Turkey with 85 locations, and 751 screens operating under the Cinemaximum brand in 32 cities. The cinemas are well known for their state-of-the-art technology and have adopted a large number of leading-edge solutions for immersive cinema entertainment including the powerful sound technologies of Dolby Atmos. The company also owns the cinema advertising company Mars Media and the film distribution company Mars Dağıtım.
Mars Entertainment Group Directory page
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