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New York and Columbus, Ga—Oct 23, 2013
IMAX Announces New 10-Theatre Agreement with Carmike Cinemas Inc.
Fourth-Largest U.S. Exhibitor Expands IMAX Footprint; Underscores Domestic Demand for The IMAX Experience®
IMAX Corporation (NYSE: IMAX; TSX: IMX) and Carmike Cinemas Inc., (NASDAQ: CKEC), the fourth-largest exhibitor in the U.S., today announced a new revenue sharing agreement for 10 IMAX® theatre systems to be installed in new construction projects and existing Carmike multiplexes across the U.S., including locations in Georgia, Tennessee and Texas.
"Carmike ranks among the largest and most successful exhibitors in the U.S. and we're pleased to expand our partnership," said IMAX CEO, Richard L. Gelfond. "We're also delighted to see the continued demand for IMAX domestically - particularly in the Southeast region of the U.S., which continues to present expansion opportunities for the Company."
In November 2012, Carmike acquired 16 entertainment complexes from Rave Review Cinemas LLC, which included seven IMAX theatres. In August 2013, Carmike acquired three multiplexes from Cinemark USA Inc., which included an eighth IMAX theatre. Those acquisitions, along with today's agreement, bring Carmike Cinemas' total IMAX commitment to 18 theatres.
"As we continue to aggressively grow the Carmike theatre network throughout the U.S., we are proud to build on the success of our existing IMAX theatres which have further enhanced attendance at our entertainment complexes since the acquisitions," said David Passman, President and CEO, Carmike Cinemas. "By delivering audiences blockbuster content in its highly immersive format, IMAX has created a truly differentiated brand and entertainment experience that we believe will serve as a key anchor attraction in our complexes and continue to have a positive impact on our operating success."
About Carmike Cinemas, Inc:
Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema deployments and one of the nation's largest motion picture exhibitors. Carmike has 273 theatres with 2,906 screens in 41 states. The circuit includes 47 premium large format (PLF) auditoriums featuring state-of-the-art technology and luxurious seating, including 29 "BigDs," 16 IMAX auditoriums with an additional eight under contract, and two MuviXL screens. As "America's Hometown Theatre Chain" Carmike's primary focus is midsized communities.
Carmike Cinemas, Inc 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 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
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