Monday, December 31, 2007

100 Imax digital projectors deal with AMC

The agreement will double Imax's commercial theater presence in North America, and includes installations at some of AMC's highest-grossing multiplexes such as the Empire in New York's famed Times Square and Century City in Los Angeles.

"We can't think of any deal in our 40-year history that has been more important to us," co-CEO Bradley Wechsler during a webcast Friday.

"This deal, by far and away the largest and most expansive in Imax's history, is extremely significant for the company, from both the financial and strategic point of view."

The Toronto-based maker of large-screen movie systems, did not detail the financial implications of what it described as a joint venture, but Imax co-CEOs Richard Gelfond and Wechsler described the partnership as "a transformational moment" for their firm.

During the webcast, Imax said the term of the agreement is seven years, after which AMC has the option to extend the deal for three more years.


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