New York, NY– September 20, 2010 – IMAX Corporation today announced that CJ CGV HOLDINGS, LTD, a subsidiary of CJ CGV Co. Ltd., the leading theatre exhibitor in Korea, and the number one exhibitor in Asia, has signed an agreement to install 15 digital IMAX theatre systems in new locations planned for The People’s Republic of China. The deal marks IMAX’s single largest theatre deal in Asia and expands its existing relationship with CJ CGV, which already operates 5 IMAX theatres in Korea, and comes on the heels of the joint venture arrangement between the two parties that was announced in March. With this announcement, CJ CGV now has committed to operating up to 35 IMAX theatres overall. The deal calls for CJ CGV to install the first 2 IMAX systems in 2011 with all remaining installations scheduled to be completed between 2012 and 2015. Under the terms of the sale, the parties anticipate sharing in the box office of all 15 Chinese locations once installed. Today’s announcement brings the total number of IMAX systems scheduled to be open in Greater China, IMAX’s second largest market, to 96. The Company’s announced number of theatre systems signings year-to-date has increased to 168 worldwide, which compares to 35 system signings in all of 2009.
IMAX Inks Largest Theatre Deal In Asia
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