NEW YORK, Jan. 9, 2018 /PRNewswire/ -- IMAX
Corporation (NYSE:IMAX), and CJ CGV today announced a sales
agreement for four new IMAX® theatres to be added to
existing and new multiplexes in Turkey. The theatres will be operated by CJ
CGV subsidiary, Mars Entertainment Group, operator of the largest
cinema circuit in Turkey. The
agreement brings to 133 the exhibitor's total IMAX commitment with
theatres in South Korea,
China, Vietnam and Turkey.
IMAX first entered Turkey in
2011 with the opening of a theatre in Istanbul and one in Ankara. There are currently seven IMAX
theatres in operation in the country with another four in backlog,
inclusive of the agreement announced today. In 2016, two of the
nation's IMAX theatres were among the top 10 highest-grossing IMAX
sites in Eastern Europe.
"We're delighted to build on our success in Turkey and expand our presence in this
underpenetrated region," said Richard L.
Gelfond, IMAX CEO. "CJ CGV is a valued partner that has
helped us to establish the IMAX network and brand across many
international markets. With the strength of this partnership and of
our existing sites in Turkey, we
believe we are well-positioned for expansion in this emerging
market."
"There is enormous potential in the Turkish cinema industry,"
said Seo Jung, CJ CGV CEO. "We're
delighted to further expand The IMAX Experience® with
more moviegoers through this opportunity and look forward to IMAX's
contribution to the deepening of Turkish cinema industry."
About CJ CGV
CJ CGV is one of the largest
multiplex theatre chains in the world with in South Korea, China, Vietnam, Indonesia, Myanmar, the United
States and Turkey. As of
December 2017, CJ CGV operates 3,346
screens at 445 locations, including 840 screens at 96 locations in
Turkey.
About IMAX Corporation
IMAX, an innovator in
entertainment technology, combines proprietary software,
architecture and equipment to create experiences that take you
beyond the edge of your seat to a world you've never imagined. Top
filmmakers and studios are utilizing IMAX theatres to connect with
audiences in extraordinary ways, and, as such, IMAX's network is
among the most important and successful theatrical distribution
platforms for major event films around the globe.
IMAX is headquartered in New
York, Toronto and
Los Angeles, with additional
offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2017, there were 1,302 IMAX
theaters (1,203 commercial multiplexes, 11 commercial destinations
and 86 institutions) in 75 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary
of IMAX Corp., began trading on the Hong Kong Stock Exchange under
the stock code "HK.1970."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D
Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX
nXos® are trademarks of IMAX Corporation. More information about
the Company can be found at www.imax.com. You may also connect with
IMAX on Facebook (www.facebook.com/imax), Twitter
(www.twitter.com/imax) and YouTube
(www.youtube.com/imaxmovies).
This press release contains forward looking statements that
are based on IMAX management's assumptions and existing information
and involve certain risks and uncertainties which could cause
actual results to differ materially from future results expressed
or implied by such forward looking statements. These risks and
uncertainties are discussed in IMAX's most recent Annual Report on
Form 10-K and most recent Quarterly Reports on Form
10-Q.,
For additional
information please contact:
|
|
Business
Media: IMAX
Corporation – New York Ann
Sommerlath 212-821-0155 asommerlath@imax.com
Sloane &
Company – New York Whit
Clay 212-446-1864
wclay@sloanepr.com
|
Investors: IMAX Corporation – New York
Michael K. Mougias
212-821-0187 mmougias@imax.com
Entertainment
Media: Principal
Communications Group – Los Angeles Melissa Zukerman/Paul Pflug
323-658-1555
melissa@pcommgroup.com
paul@pcommgroup.com
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SOURCE IMAX Corporation