Imax Unwraps Ten-Screen U.S. Market Deal with Frank Theaters
TORONTO – Giant screen exhibitor Imax on Wednesday unveiled a 10-theater agreement with U.S. cinema chain Frank Theatres.
The deal will see theaters installed in existing and new complexes, with Imax and Frank Theaters to share the risk and revenue via a joint venture arrangement.
As part of the deal, Frank Theaters will open four Imax theaters in November in York, Pa., Southern Pines, N.C., Delray Beach, Fla., and Northfield, N.J.
Another two theaters are set to open May 2013 in Ranson, W. Va., and Kingsport, Tenn., while locations for the remaining four screens are still to be determined.
"As we expand our circuit throughout the U.S., Imax will serve as the anchor attraction for our new entertainment complexes,” Bruce Frank, president and CEO of Frank Theaters, said in a statement.
Frank Theaters runs 25 theaters and 256 screens in New Jersey, Pennsylvania, West Virginia, North Carolina, South Carolina, Georgia and Florida.