Media Partnerships: IMAX, Wanda Sign China Deal
June 17, 2010 (FinancialWire) — IMAX Corp. (NASDAQ: IMAX) (TSX: IMX) and China-based Wanda Cinema Line Corp. announced an agreement to expand their relationship with the installation of three additional IMAX systems in the cities of Quanzhou, Wuhan and Dalian.
These theatres are in addition to the four IMAX locations the exhibitor already operates and the seven IMAX locations it currently has scheduled to open. The agreement brings the total number of IMAX theatres to be operated by Wanda Cinema Line by the end of 2012 to 14. The People's Republic of China is IMAX Corp.'s fastest-growing market, with more than 50 IMAX theatres scheduled to be operating in China by 2012.
Five of the 14 IMAX locations operated by Wanda Cinema Line are scheduled to be opened and available to consumers in time for the highly-anticipated release of Aftershock, the first Chinese film to be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience.
Wanda Cinema Line Corp. is a subsidiary under the jurisdiction of Wanda Group, which operates 50 five-star cineplexes and 400 screens that produced RMB 833 million box offices, accounting for 15% shares of box office in 2009.
IMAX Corp. is an entertainment technology companies, specializing in immersive motion picture technologies.
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