Imax, Carmike Reach 10-Theater Revenue Sharing Deal
The agreement for new screens in the U.S. southeast follows recent acquisitions of super-sized theaters by the multiplex operator.
TORONTO – Imax and Carmike Cinemas have inked a new revenue sharing pact for 10 theater systems for new and existing multiplexes in the U.S. southeast.
The new screens, to be installed in locations in Georgia, Tennessee and Texas, comes after Carmike last year acquired 16 locations from Rave Review Cinemas, which included seven Imax theaters.
And in August of 2013, Carmike acquired three multiplexes from Cinemark USA, handing it an eighth Imax theater.
The new ten-screen revenue share deal brings Carmike Cinemas' Imax commitment to 18 theaters.
"As we continue to aggressively grow the Carmike theater network throughout the U.S., we are proud to build on the success of our existing Imax theaters which have further enhanced attendance at our entertainment complexes since the acquisitions," Carmike president and CEO David Passman said Wednesday in a statement.
The Carmike joint venture theater deal comes ahead of Imax releasing its latest financial results on Thursday.