MUMBAI: Imax Corporation and Wanda Cinema Line Corporation inked an agreement to install 10 Imax theatres in The People’s Republic of China, with the first two installations scheduled for December of this year.
The agreement marks Imax’s largest ever multiple-theatre deal in
Wanda Cinema Line Corporation is the top performing and fastest growing exhibitor in The People’s Republic of China with 121 screens in 15 locations. All ten Imax theatres are expected to be installed by the end of 2010 and bring the total number of Imax theatres scheduled to be open in The People’s Republic of China to 39.
“Imax is a world-class brand that has been received exceptionally well across
“China continues to be a key strategic growth market for Imax, and our partnership with Wanda Cinema Line — an exhibitor and property developer — gives us the opportunity to significantly expand our audience-base and ultimately drive greater interest in the region. This single deal is expected to increase our presence in
The first three locations will utilize the Imax MPX theatre system, Imax’s latest film projection technology specifically designed to enable multiplex operators to enter into the Imax theatre business. The remaining seven locations are scheduled to utilize Imax’s digital projection system. The exhibitor has options to upgrade the three MPX theatre systems to Imax digital on pre-negotiated terms, and to opt out of the final five installations subject to a material penalty.
All ten Imax theatres are scheduled to be installed as part of new multiplex constructions. The first two installations are scheduled to take place in December 2007, in the cities of