IMAX Signs First Joint Venture Theatre Deal in Europe with Cineplexx

http://www.imax.com/corporate/content/investor/intro.jsp

 

Cineplexx Kinobetriebe and IMAX Enter Joint Venture Agreement for Three Theatres in Austria

 

IMAX's Digital Projection System Continues to Drive Joint Venture Business

 

TORONTO, Oct. 7 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and Cineplexx Kinobetriebe Gmbh, the largest exhibitor in Austria, today announced a joint venture agreement to install three IMAX(R) theatres in Austria. The deal marks IMAX's first joint venture in Europe, and continues the Company's global expansion with its new digital projection system. To date, IMAX has signed contracts for more than 180 IMAX digital projection systems, with 18 currently in operation and a total of 45-50 scheduled to be in operation by year end.

 

The first theatre is expected to be installed in the city of Graz during the first quarter of 2009, followed by a location in Vienna the second quarter of 2009 and a third location in the city of Hohenems during the fourth quarter of 2009. All three theatres will be equipped with IMAX's new digital projection system.

 

"Installing IMAX theatres in our multiplexes is an enormous benefit for our business and our customers as it enables us to offer a premium immersive movie experience that consumers will be delighted to have in Austria," said Christian Langhammer and Christof Papousek, managing directors of Cineplexx Kinobetriebe. "IMAX's new digital projection system, which can be retrofitted into our existing auditoriums, combined with IMAX's joint venture business model, offers us an economical and highly efficient way to enter the IMAX business."

 

"This joint venture agreement is an important first step for our digital growth strategy in Europe," said IMAX's Co-Chairmen and Co-CEOs, Richard L. Gelfond and Bradley J. Wechsler. "We believe a partnership with Austria's leading exhibitor will help to strengthen our brand in the region and expand our audience base during a time when our film slate and interest from Hollywood studios is at an unprecedented level."

 

"There is significant potential for us in this virtually untapped market, where we can align ourselves with the country's top exhibitor to offer a whole new way to experience movies," added Larry O'Reilly, Executive Vice President of Theatre Development. "With Cineplexx Kinobetriebe's well-known marketing expertise, combined with Hollywood's biggest event movies and the IMAX brand, we believe this joint venture partnership is a natural fit for IMAX."

 

IMAX's digital projection system delivers The IMAX Experience(R) and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX(R) 3D presentations.

 

 

    Upcoming IMAX films include

 

    2008

    ----

    Madagascar 2: Escape 2 Africa - DreamWorks Animation

    The Day the Earth Stood Still - Twentieth Century Fox

 

    2009

    ----

    Under the Sea 3D - IMAX / Warner Bros. Pictures

    Watchmen - Warner Bros. Pictures / Paramount Pictures / Legendary

    Pictures

    Monsters vs. Aliens 3D - DreamWorks Animation

    Night at the Museum Battle of the Smithsonian - Twentieth Century Fox

    Transformers: Revenge of the Fallen - DreamWorks Pictures /

    Paramount Pictures

    Harry Potter and the Half-blood Prince - Warner Bros. Pictures

 

    2010

    ----

    Hubble 3D (working title) - IMAX / Warner Bros. Pictures

    How to Train Your Dragon 3D - DreamWorks Animation

    Shrek Goes Fourth 3D - DreamWorks Animation

 

 

About Cineplexx Kinobetriebe

 

 

Cineplexx Kinobetriebe GmbH was founded in 1993 and is a wholly owned subsidiary of Constantin Film Holding GmbH, located in Vienna/Austria. Cineplexx emerged in a period when many traditional cinemas disappeared in Austria and multiplex cinemas captured the market. Constantin Film realized this trend and built up a group with 20 cinemas and 160 screens. An affiliated company runs ten traditional theaters. Constantin Film Holding GmbH made a revenue of almost 80 Million Euro in 2007 and employs some 800 people. More information www.cineplexx.at.