IMAX and CJ CGV Co., Ltd. Expand Relationship With Joint Venture Deal for Up to 15 New IMAX(R) Theatres in Korea
Leading Exhibitor Commits to 10 New Joint-Venture Locations, Option to Increase to 15
Deal Also Includes Upgrades for Four Existing Locations to IMAX's Digital Projection System
Expansion Follows Success of CJ CGV's Existing IMAX Locations
IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced that CJ CGV Co. Ltd., the leading theatre exhibitor in Korea, has signed an agreement to install up to 15 new digital IMAX(R) theatre systems, with the rollout scheduled to begin later this year, and to upgrade four existing film-based IMAX theatres to digital systems. The agreement was signed following the success of the exhibitor's five existing IMAX locations in Seoul, Daegu and Gwangju, where the current IMAX(R) 3D release of Avatar has generated more than $6.5 million.