NEW YORK, Sept. 3, 2013 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX; TSX:IMX) and Ster-Kinekor Theatres, a division of Primedia Ltd., today announced an agreement to install an IMAX® theatre in the Ster-Kinekor Gateway Multiplex at the Gateway Theatre of Shopping in Durban, South Africa. The deal represents IMAX's first commercial multiplex theatre in the country.
"IMAX delivers a moviegoing experience so lifelike that customers are willing to pay a premium for it, and as a result we are confident that IMAX will strengthen the performance of our flagship multiplex in Durban," said Fiaz Mahomed, CEO, Ster-Kinekor. "IMAX supports our mission to deliver unforgettable entertainment experiences, and we look forward to presenting the world's biggest blockbusters in the world's most immersive cinematic format."
"Today's agreement – with South Africa's number-one exhibitor at the country's number-one cinema complex – represents the ideal scenario under which to mark IMAX's first commercial multiplex entry into the country," said Andrew Cripps, President, IMAX EMEA. "We are delighted to welcome Ster-Kinekor to the IMAX business and believe our partnership will not only raise our visibility in South Africa, but also set the stage for mutual growth opportunities in the region."
About Ster-Kinekor Theatres
A wholly-owned subsidiary of the Primedia Group, Ster-Kinekor is the leader in bringing blockbuster films to its audiences across the country and, despite South Africans watching their pockets, Ster-Kinekor has seen an increase in cinema attendance year on year. With 52 local movie complexes situated in prime locations like Sandton City, Gateway and Cavendish Square, and a further five abroad inNamibia, Zambia, Lesotho and Zimbabwe, Ster-Kinekor can entertain over 64,000 movie goers every two hours on over 400 big screens. From action and suspense, to romance and comedies, Ster-Kinekor Theatres offers the latest the film industry has to offer. And if it's 3D you're after, then you'll be pleased to know that SK has 112 state-of-the-art 3D cinemas, securing its 3D footprint in the country and keeping audiences on the edge of their seats.
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 inLondon, Tokyo, Shanghai and Beijing. As of June 30, 2013, there were 767 IMAX theatres (634 commercial multiplexes, 19 commercial destinations and 114 institutions) in 54 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.