Agreement Builds on IMAX Success at the Historic Empire Leicester Square Cinema
NEW YORK, April 20, 2015 /PRNewswire/ -- IMAX Corporation (NYSE:IMAX) and Empire Cinemas Limited, the largest independently-owned cinema chain in the UK, today announced an agreement for three IMAX® theatres to be added to existing multiplexes in Basildon, Essex; Hemel Hempstead, Hertfordshire and Great Park, Birmingham, England. The deal brings to four theatres Empire Cinemas' IMAX footprint. The exhibitor's first IMAX theatre opened in May 2014 at the iconic Leicester Square Cinema.
"IMAX transformed our flagship Empire Leicester Square Cinema for a new generation of moviegoers with an immersive experience that we're pleased to bring to more audiences throughout England," said Justin Ribbons, CEO of Empire Cinemas. "As we expand our circuit, we're continuously investing in our theatres to make sure all aspects of our experience are truly compelling. IMAX is a part of this strategy - offering us a long-term competitive advantage that will help differentiate our sites from other multiplexes."
"In a mature market such as the UK, it is vital to go into the best available locations," said Andrew Cripps, President, IMAX EMEA. "Empire Cinemas is not only a world-class exhibitor, they also have some of the most prominent sites such as the Empire Cinema in Basildon, Essex - its second flagship location and one of three included in today's agreement. In less than a year since its opening, the IMAX Leicester Square ranked as the world's highest-grossing IMAX site for the 2014 blockbuster thriller Lucy. We're delighted to build on this success with three new sites and capitalize on the growing consumer demand for IMAX in the region."
About Empire Cinemas
Empire Cinemas is the largest independently owned cinema chain in the UK, currently operating 172 screens in 17 cinemas across the United Kingdom. Empire Cinemas screens everything from mainstream blockbusters to art-house classics in quality cinemas, staffed by individuals who are knowledgeable and enthusiastic about film.
In 2014 saw Empire Cinemas open the first purpose-built Empire Cinema in Walthamstow – The Scene - which boasts nine-screens, including Empire Cinemas' large-screen format, IMPACT, and be able to seat up to 1,200 cinemagoers. Additionally 2014 marked the opening of a brand new IMAX® Auditorium at The Empire Leicester Square, with the previous 'Screen 1' completely transformed for The IMAX Experience®, with ground-breaking, crystal-clear digital projection, cutting-edge sound technology and a significantly larger, curved screen spanning from floor to ceiling and wall to wall, providing the capital's moviegoers the world's most immersive cinematic experience.
The community is at the core of Empire Cinemas, with money-saving schemes including SAV£RDAY, Parent and Baby, Last Chance To See Thursdays, Empire Jnrs and Empire Seniors helping to give every customer a unique cinema experience.
Operating since 2005, Empire Cinemas takes its name from The Empire Leicester Square, the flagship location within the group which celebrates its 117th birthday this year, with the company drawing on a rich heritage of over a century of experience bringing moving pictures to the public.
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 offices in London, Tokyo, Shanghai and Beijing. As of Dec. 31, 2014, there were 934 IMAX theaters (809 commercial multiplexes, 19 commercial destinations and 106 institutions) in 62 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience® and IMAX Is Believing® 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.