By The Wall Street Journal: Laurie Burkitt on April 08, 2014
BEIJING—IMAX Corp. plans to sell a 20% stake in its Chinese business to two China-focused investor groups in an $80 million deal that the big-movie-screen operator hopes will pave the way for expansion and an eventual public listing.
IMAX Chief Executive Richard Gelfond said in an interview that investment fund China Media Capital and private-equity firm FountainVest Partners would pay $40 million each for 10% stakes by early 2015. He said the deal gives IMAX local partners who will open up expansion opportunities in one of its most important markets.
The investors will shepherd a public offering of shares of the China operation, IMAX China Holding Inc., in the next five years, Mr. Gelfond said. IMAX China will be paying IMAX Corp. an ongoing trademark and licensing fee for the right to use the IMAX trademark in China, a spokeswoman said.
By Variety: Andrew Stewart on March 24, 2014
Mega-screen company IMAX is moving forward with its laser technology, signing 63 laser projectors to be installed worldwide over the next several years, with the majority of the new systems ear marked for Greater China.
IMAX has made significant inroads into China throughout the last few years, expanding its brand with a growing infrastructure. The IMAX laser projectors, which are developed through a partnership with Kodak and Barco, total 43 on the mainland, with the country’s largest exhib Wanda footing the bill for all but three.
By The Wall Street Journal: Ben Fox Rubin on March 20, 2014
Deal Continues Companies' Long-Running Relationship
The deal continues IMAX and Disney's long-running relationship and will involve IMAX being part of Disney's release strategy for several major films, including this year's "Marvel's Captain America: The Winter Soldier," "Maleficent," and "Marvel's Guardians of the Galaxy," as well as next year's "Marvel's Avengers: Age of Ultron," "Tomorrowland" and "Star Wars: Episode VII."
Last year, the two companies agreed to co-produce their first movie together, expanding the relationship between the entertainment giant and the operator of theaters known for large floor-to-ceiling curved screens.
The companies have previously collaborated together on the distribution of numerous films such as "Fantasia 2000" and "Oz the Great and Powerful."
Read more about the IMAX and Disney partnership on The Wall Street Journal's website.
By The Hollywood Reporter: Etan Vlessing on March 04, 2014
The deal comes after the Russian exhibitor opened its first giant screen theater.
TORONTO -- Russian theater circuit Mori Cinema has acquired another five IMAX screens after opening its first from the Canadian giant screen exhibitor.
Mori, as part of its agreement with IMAX, is to install four of the new theaters in new construction projects in Irkutsk, Murmansk, Archangelsk and Moscow.
One retrofitted theater is to be installed in Togliatti.
The latest deal with Mori brings the Russian exhibitor's stable of IMAX theaters to six.
Read more about IMAX's expansion in Russia on The Hollywood Reporter's website.
By The Los Angeles Times: Richard Verrier on February 26, 2014
IMAX is building a $45-million West Coast headquarters with two screening rooms in Playa Vista. (Gensler / February 26, 2014)
Renowned big-screen cinema purveyor IMAX Corp. is set to break ground Thursday on a new West Coast headquarters that will house two large screening rooms, offices and production facilities for moviemakers.
The $45-million complex is being built in the commercial district of Playa Vista, a planned community south of Marina del Rey.
IMAX's property will rise at the corner of Westlawn Avenue and Millennium Drive, next to the massive hangar where aerospace mogul Howard Hughes built his infamous wooden transport plane known as the Spruce Goose.
Developer Lincoln Property Co. is building the 66,000-square-foot facility that IMAX will own. Lincoln also built more than 800,000 square feet of offices at Playa Vista and is developing the $260-million Runway office, retail and housing project that will serve as Playa Vista's downtown.