AMC, Imax Ink 25-Theater Deal for Europe
China-owned AMC is bringing U.S.-style theater upgrades to its newly acquired Odeon & UCI and Nordic Cinema chains.
U.S. exhibition giant AMC Theatres, owned by China's Dalian Wanda Group, has inked a deal for 25 new Imax screens for Europe.
The agreement follows AMC becoming the largest European operator of movie theaters after acquiring London-based Odeon & UCI Cinemas for $1.2 billion and Stockholm-based Nordic Cinema Group Holding for $929 million.
AMC, strengthening its position in Europe, will install 10 Imax giant-screen theaters in existing Odeon complexes across the U.K., Ireland, Germany, Spain and Italy, with the remaining 15 screens to go into unspecified locations in Europe.
The giant-screen theater deal is the latest sign AMC is bringing its U.S. reclining seats, premium formats like Imax and food and beverage upgrade strategy to the U.K. and other markets in Europe to boost attendance and financial performance.
"Today's announcement with Imax, our longstanding U.S. partner and now our global partner, is a major step forward to deliver on our plan to bring the proven and incredibly popular AMC movie-going experience to our Odeon and Nordic guests," Adam Aron, CEO and president of AMC Entertainment Holdings, said in a statement.