Second-largest Pan-European Exhibitor Adds Two IMAX® Theatres to Circuit in England
CANNES, France, May 14, 2015 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and Vue International (Vue), the multiple-award-winning operator of modern state-of-the-art multiplex cinemas, today announced an agreement for two IMAX® theatres in England. One theatre will be added to the Vue Cheshire Oaks multiplex in Cheshire with the second to go into the Vue Leeds Kirkstall complex in West Yorkshire. The agreement builds on the recent box office success of the exhibitor's newly opened IMAX theatre at the Fisketorvet Copenhagen Mall in Denmark, operated by Vue subsidiary CinemaxX. The theatre opened on April 22 with Avengers: Age of Ultron and has become the highest-grossing site in Denmark and the third highest-grossing IMAX site for the film worldwide.
"Over the years, we've observed the impressive results that IMAX has generated in the UK and abroad. During the inaugural opening weekend of our first-ever IMAX theatre in Copenhagen, we were seriously impressed by the box office success and witnessed first-hand the power of IMAX to deliver an unparalleled cinema experience and bottom-line results," said Tim Richards, CEO and Founder, Vue International. "We're delighted to build on this early IMAX success with today's agreement. The IMAX brand and immersive format will serve as a key differentiator in our multiplexes and we are confident it will be embraced by more of our guests and help drive our continued growth."
"Our UK network has more than doubled since 2012. This success is due in large part to our strategic partnerships and, as such, we're delighted to expand our relationship with one of the fastest-growing exhibitors in Europe," said Andrew Cripps, President, IMAX EMEA. "With a network that spans nine countries, Vue is committed to developing a truly international network leveraging state-of-the-art technology. We believe our new partnership will not only support our mutual growth in the UK, but also present opportunities for further collaborations across Europe."
"Our differentiated format, coupled with our highly anticipated film slate over the next several years continues to drive strong demand for new IMAX theatres around the world," said IMAX CEO, Richard L. Gelfond. "We're delighted by Vue's early IMAX success and its confidence in IMAX to strengthen its business - a sentiment held by leading exhibitors worldwide."
About Vue International
From its inception in May 2003, Vue became a worldwide operator and developer of modern, innovative multiplex cinemas. With the acquisition of Apollo Cinemas and the takeover of CinemaxX (Germany and Denmark) in 2012, the acquisition of Multikino (Poland, Latvia and Lithuania) in 2013, and most recently Space Cinemas (Italy) in 2014, Vue Group today operates 1,741 screens at 187 state-of-the-art multiplex cinema locations in nine countries, namely the United Kingdom, Ireland, Germany, Denmark, Poland, Latvia, Lithuania, Italy and Taiwan.
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 March 31, 2015, there were 943 IMAX theatres (820 commercial multiplexes, 18 commercial destinations and 105 institutions) in 63 countries.
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.