NEW YORK, Sept. 12, 2017 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and Malco Theatres Inc., a leading regional exhibitor in the Southern U.S., today announced a sales agreement for two IMAX® theatres. The first IMAX theatre will be added to the Malco Paradiso Cinema Grill in Memphis, Tenn., and the second to the Malco Razorback Cinema Grill in Fayetteville, Ark. with both IMAX auditoriums slated to open in December. The agreement marks the first-ever IMAX theatres for Malco Theatres, as well as the first commercial IMAX theatre in Memphis and the first-ever IMAX in Fayetteville.
"We are excited to welcome Malco Theatres to the IMAX business, and together look forward to introducing the world's most immersive cinema going experience to new audiences across Tennessee, Arkansas and the Mid-South," said Mark Welton, President, IMAX Theatres. "In 2016, our domestic signings reached a three year high and we're delighted to continue this momentum as exhibitors look for a premium and differentiated offering to get audiences off their couches and into the multiplex."
"We looked at all of our options regarding a large format solution and came to the conclusion that no one has a better combination of quality, full immersion cinema, and brand awareness than IMAX. We are excited to add The IMAX Experience to these two already great theatres," said Stephen Lightman, Malco Theatres, President and CEO.
About Malco Theatres
Memphis, TN-based Malco Theatres is a fourth-generation family-owned and operated business that reached its 100th anniversary in 2015. Malco Theatres operates over 350 screens at 34 locations across the Mid-South, as well as bowling and family entertainment centers in Louisiana and Mississippi.
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, Dublin, Tokyo, Shanghai and Beijing. IMAX is headquartered in New York, Toronto and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of June 30, 2017, there were 1,257 IMAX theaters (1,154 commercial multiplexes, 13 commercial destinations and 90 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.
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