Imax Confirms Nine More JV Theaters For Regal
Regal Entertainment is exercising an option to take another nine Imax theaters to total 77 locations in all.
TORONTO -- Imax Corp. and Regal Entertainment Group are moving ahead on an earlier-announced October 2010 deal to expand their joint revenue theater arrangement with another nine screens for the U.S. market.
The original deal called for Knoxville-based Regal acquire an initial 16 screens for the U.S. market, with an option to go to 25.
Toronto-based Imax on Thursday confirmed Regal will exercise the option to install the extra nine screens, with no word on where they will go.
The 2010 deal between Imax and Regal expanded on an original 2008 joint venture agreement which committed both partners to 39 super-sized theaters, 34 of which are now in operation.
The latest nine super-sized screens will get Regal to in all 77 Imax theaters in its stable.
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