Imax Sells Five More Screens to Mexico's Cinepolis Theater Chain
The deal comes as the giant screen exhibitor looks to expand in Latin America.
TORONTO – Mexican exhibitor Cinepolis has bought another five Imax theaters for existing multiplexes.
The deal brings to 13 Cinepolis' overall number of planned Imax screens after it opened seven in Mexico and one more in Brazil.
The agreement also puts Imax’s Latin American expansion into another gear.
"Mexico is a leading movie-going market we've only begun to penetrate and today's agreement proves our momentum is building in Latin America - a key area of focus for Imax," Richard Gelfond, CEO of Imax, said in a statement Monday.
Cinepolis, headquartered in Morelia, Mexico, operates over 2,000 screens in six countries.