Imax, Regal pact on 31 digital systems
EmptyTORONTO -- Giant-screen exhibitor Imax said Monday that it has signed a joint-venture agreement to sell 31 digital projections systems to Regal Cinemas.
Toronto-based Imax said that its digital projectors will be installed in Regal theaters in 20 major U.S. markets, with the first theater to open Nov. 21 in time to show "Harry Potter and the Half-Blood Prince: The Imax Experience."
As part of their joint venture agreement, Imax and Regal will share the costs and profits of the new large-format screens.
The deal brings to 38 the number of theaters that Imax and Regal will jointly operate, and 52 the number of Imax screens that Regal will have by the end of 2010.
Imax is set to roll out its digital projections systems in the second half of 2008.