IMAX® And Cinestar Sign Revenue-Share Agreement To Bring The IMAX Experience® To Iconic Berlin Theatre
BERLIN, June 20, 2013 /PRNewswire/ -- Building on the momentum of the expanding IMAX® theatre network throughout Europe, IMAX Corporation (NYSE: IMAX; TSX: IMX) and CineStar Cinemas, Germany's largest exhibitor and a subsidiary of Amalgamated Holdings Ltd., Australia's leading entertainment and hospitality company, today announced a revenue-sharing agreement for an IMAX® theatre in Germany to be added to the landmark CineStar Sony Centre multiplex at Potsdamer Platz in the heart of Berlin.
Under the terms of the agreement, the new IMAX theatre at the CineStar Sony Centre will eventually transition to IMAX's next-generation laser digital projection system, which is expected to set a new benchmark as the industry's premium entertainment experience. The system, which incorporates the laser digital intellectual property IMAX exclusively licensed from Eastman Kodak and Barco's unique laser innovations, represents the culmination of the largest R&D initiative in IMAX's history and will enable IMAX screens more than 80 feet to deliver the highest-quality digital content available with greater brightness and clarity, a wider color gamut and deeper blacks.
"CineStar prides itself on delivering a premium entertainment experience and by adding IMAX to our flagship multiplexes, we are reinforcing this commitment to innovation and quality," said Oliver Fock, Managing Director Film for Cinestar. "IMAX's slate of Hollywood's biggest blockbusters and its immersive format is sure to be a success among our guests. We are pleased with today's deal and look forward to further expanding our IMAX business to bring even more audiences throughout Germany the ultimate movie-going experience."
"We are delighted to partner with Germany's number-one exhibitor and are particularly excited about bringing IMAX to the landmark CineStar Sony Centre in Berlin, which is home to many of Germany's major film premieres," said Andrew Cripps, President, IMAX EMEA. "Germany is a large and under-penetrated market for IMAX and we believe that strong partnerships with premium exhibitors are key to supporting our network expansion efforts. We're also excited to see CineStar embracing our new laser technology and look forward to ushering in the next-generation moviegoing experience for audiences across Germany."
In addition, IMAX announced that Event Cinemas, another Amalgamated Holdings subsidiary, will install IMAX's upcoming next-generation laser digital projection technology at its flagship Event Cinemas Queen Street IMAX theatre in Auckland.
About CineStar Cinemas
CineStar Cinemas is the Germany's most innovative and exciting cinema and entertainment provider. It's our intention to continually offer an exciting, vibrant and state of the art means for our guests to enjoy all forms of entertainment as it's meant to be seen (on the BIG screen).
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 Mar. 31, 2013, there were 738 IMAX theatres (606 commercial multiplexes, 19 commercial destinations and 113 institutions) in 53 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.
For additional information please contact:
IMAX Corporation, New York
Teri Loxam/Blaire Lomasky
Sloane & Company, New York
IMAX Corporation, New York
Principal Communications Group, Los Angeles
Melissa Zuckerman/Paul Pflug
SOURCE IMAX Corporation