IMAX Signs 5- Theatre Deal With Cineworld, 25-Theatre Deal With AMC

(RTTNews) - IMAX Corp. (IMAX) announced Wednesday an expansion of its partnership with Cineworld Group PLC for an additional five IMAX theatres. Under the terms of the agreement, the theatres will be installed in new multiplexes in the UK and across other European markets.

Under a previous deal, the companies agreed that an IMAX theatre will be added at Cineworld's new, flagship complex located in Plymouth, England, which is a new area for IMAX.

Cineworld is the second largest operator of cinemas in Europe, operating in nine countries.

Andrew Cripps, President of International and EVP, IMAX, said, "With an IMAX presence that spans eight countries, both in developed markets such as the UK and emerging markets such as Romania under the Group's Cinema City brand, Cineworld's IMAX success is a testament to the fact that cinemagoers across diverse economic and geographic boundaries are willing to pay a premium for the best-quality experience."

Separately, IMAX and AMC Theatres (AMC) announced an expansion of the companies' existing full joint revenue sharing arrangement with the addition of 25 IMAX at AMC theatres. The theatres are expected to be installed in 2016 through 2019 at both existing and new-build AMC locations.

The company said the majority of the IMAX at AMC theatres will be opening within the next two years.