Imax Sells 2 More Theaters to Quebec's Cinemas Guzzo
The latest deal has the giant screen exhibitor continuing to build in its own backyard by expanding a joint venture agreement with the Montreal-based circuit.
VANCOUVER – Imax continues to build in its own backyard by adding another two screens in Quebec.
The latest deal with Cinemas Guzzo for two digital theaters to be acquired and run as joint ventures comes on top a year earlier order for four theaters with the Montreal-based exhibitor.
In all, Cinemas Guzzo will operate a dozen Imax theaters, with six already open and another six under contract.
The latest agreement will see one digital screen added to a multiplex in Deux-Montagne, and a second Imax theater go into a 14-screen multiplex in Terrebonne.
Imax has become a major supplier of theater screens to Canadian circuits such as Cinemas Guzzo, Cineplex Entertainment and Empire Theaters as they look to super-sized Hollywood movies to pull patrons out of their homes and into their theaters.
The family-controlled Cinemas Guzzo chain operates 142 screens, mainly in the Montreal market.