Imax Grows Russian Footprint with Three New Theaters

5:26 AM PDT 6/15/2012 by Etan Vlessing

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The latest deals with Kinomax, People's Cinema and Monitor follow former Paramount exec Andrew Cripps coming on board to grow the giant screen exhibitor's global network.

TORONTO – Expanding its footprint in Russia, Imax has sold another three theaters in the fast-growing market.

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Existing partner Kinomax will add another giant screen in Samara, to open in September 2013, while Monitor will install its first theater in Anapa from next month.

And People's Cinema, another new partner for Imax in Russia, has taken a theater in Ulan Ude, to open in September 2013.

The latest deals bring to 49 the number of Imax theaters open or contracted to open in the wider Russian market.

They also follow former Paramount exec Andrew Cripps in February 2012 joining the Toronto-based exhibitor to grow its global network, especially in China and Russia.

"Today's agreements show the significant traction we continue to make in Russia and we're delighted to forge new partnerships with these leading exhibitors while also expanding on an existing relationship," Imax CEO Richard Gelfond said in a statement Friday.