NEW DELHI, April 19, 2018 /PRNewswire/ -- IMAX Corporation
(NYSE: IMAX) and INOX Leisure Limited (INOX), a world-class
multiplex chain in India,
announced an agreement for five new
IMAX® theatres. The theatres will be added to new
complexes, with two located in the city of Delhi and one theatre each located in the
cities of Mumbai, Navi Mumbai and
Gurugram. The deal, which IMAX announced concurrently with another
four-theatre India agreement this
morning, brings IMAX's total number of contracted theatres in
India to 40, with 15 currently
open and 25 contracted to open.
"We are very encouraged by the rapid pace of our expansion in
India, where we've nearly doubled
our contracted network in the last year," said IMAX CEO
Richard L. Gelfond. "We're seeing an
evolution in the world's third-largest box office market towards
more premium, event-driven cinema, and believe IMAX is ideally
positioned to work together with world-class theatre chain, INOX,
who shares our commitment to quality and innovation, to usher in
differentiated cinema experiences across their flagship locations
in India."
INOX Leisure Ltd. CEO Alok
Tandon said, "INOX stands for the best in luxury,
comfort and technology. We have always believed in giving a 7-star
movie viewing experience to our patrons and there is not a better
experience than IMAX. We receive phenomenal responses from our
patrons for the IMAX screens we already have. We are delighted to
strengthen this and further expand our footprint of IMAX screens
with this latest deal and strongly believe that this association
will only grow."
Inclusive of today's agreement, INOX has contracted for a total
of 10 IMAX theatres, with two open and eight scheduled to open.
INOX currently has an IMAX theatre open in Mumbai and another in Bangalore, both of which opened in 2017. With
this deal, INOX will add new IMAX theatres to some of India's most prominent commercial
developments, including a standalone IMAX theatre at the iconic
Paras Theatre location in the heart of South Delhi and a theatre at the Reliance
Convention Centre and Retail in Bandra Kurla Complex - Mumbai's prestigious business district.
About INOX Leisure Ltd.
INOX Leisure Limited (INOX)
is amongst India's largest
multiplex chains with 123 multiplexes and 492 screens in 61 cities.
For easy and convenient ticket booking, INOX offers online booking
on www.inoxmovies.com and through its smart phone applications
across Android and Apple platforms.
For movie updates and various offers, one can follow us on:
Facebook (www.facebook.com/INOXLEISURE)
Twitter (www.twitter.com/INOXLEISURE)
Instagram (www.instagram/inoxmovies)
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 December 31, 2017, there were 1,370 IMAX theater
systems (1,272 commercial multiplexes, 12 commercial destinations,
86 institutional) operating 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:
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Business
Media: IMAX
Corporation – New York Adam
Davis 212-821-0116 adavis@imax.com
Sloane &
Company– New York Whit
Clay 212-446-1864 wclay@sloanepr.com
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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
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SOURCE IMAX Corporation