IMAX And AMC Theatres Sign 11-Theatre Deal; Brings AMC IMAX Footprint To 159
Agreement with IMAX's Largest North American Exhibitor Includes 13-Year Lease
Terms for New IMAX® Theatres at AMC Locations in Chicago, New York, Newark and
NEW YORK and LEAWOOD, Kan., Aug. 18, 2014
NEW YORK and LEAWOOD, Kan., Aug. 18, 2014 /PRNewswire/ --IMAX Corporation
(NYSE: IMAX; TSX: IMX) and AMC Entertainment Holdings, Inc. (NYSE: AMC) today
announced an expansion of the companies' existing joint revenue sharing
arrangement with the addition of 11 IMAX^® theatres. The theatres, which will
carry 13-year lease terms from the date of installation, are expected to be
installed in 2015 in cities that include Chicago, New York, Newark and
Phoenix. Today's agreement brings AMC's total IMAX commitment to 159 theatres
and reinforces its position as the largest IMAX exhibitor in North America.
"Guests are choosing AMC because they know they'll get the best possible
movie-going experience, including more immersive IMAX theatres than anyone
else in North America," said Gerry Lopez, CEO and president of AMC. "We look
forward to strengthening our longstanding successful partnership and bringing
The IMAX Experience® to more moviegoers across the United States"
"For nearly a decade, AMC and IMAX have worked together to bring millions of
movie fans across North America the best cinema-going experience possible,"
said IMAX CEO Richard L. Gelfond. "Our collaborations continue on many fronts,
most recently on new marketing initiatives which include developing custom
IMAX content for AMC's marketing channels, successfully generating awareness
of our brand and experience. We see today's agreement with AMC as an
endorsement of the long-term viability of the IMAX domestic business and
anticipate many more years of shared success."
The agreement terms include six new sites and the confirmation of five
previously conditional sites.
About AMC Entertainment Holdings, Inc.
AMC (NYSE: AMC) is the guest experience leader with 342 locations and 4,968
screens primarily in the United States. AMC has propelled innovation in the
theatrical exhibition industry and continues today by delivering more comfort
and convenience, enhanced food & beverage, greater engagement and loyalty,
premium sight & sound, and targeted programming. AMC operates the most
productive theatres in the country's top markets, including No. 1 market share
in the top three markets (NY, LA, Chicago). www.amctheatres.com
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 theaters 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 June 30, 2014, there were 868 IMAX
theaters (735 commercial multiplexes, 19 commercial destinations and 114
institutions) in 59 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.
For additional information please contact:
Business Media: Investors:
IMAX Corporation – New York IMAX Corporation – New York
Ann Sommerlath Teri Loxam
AMC Theatres Entertainment Media
Ryan Noonan Principal Communications Group – Los Angeles
913-213-2183 Melissa Zuckerman/Paul Pflug
Sloane & Company – New York firstname.lastname@example.org
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SOURCE IMAX Corporation
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