Imax Expands in Russia With New Partner Kronverk Cinema

TORONTO – Imax is expanding in Russia as it gets three more theaters into new construction projects across the market.

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Toronto-based Imax on Monday said it sold one giant-screen theater to new partner Kronverk Cinema, and sold one more screen each to existing partners Kinomax and Formula Kino.

The latest Russian deals speed up Imax’s push into emerging territories as it diversifies away from a maturing North American market.

"The popularity of Imax in Russia continues to fuel our network growth, and we're delighted to expand our partnerships with Kinomax and Formula Kino and to welcome new partner Kronverk to help give more audiences the Imax experience in this strategically important growth market,” said Andrew Cripps, president, Imax EMEA.

Cripps, a former Paramount Pictures International exec, joined Imax a year ago to grow its theater network internationally.

Kronverk Cinema has opened an Imax theater in the city of Syktivkar, while Kinomax will bring its stable of Imax theaters to six by installing one more screen in Moscow.

Formula Kino will add an Imax theater in St. Petersburg to bring its Russian footprint to three screens.