Imax Signs Rev-Share Deal With Southern Cinemas
The four theater deal marks Imax's first joint venture agreement in a regional market as the giant screen exhibitor expands beyond mega-pacts with Regal Entertainment and other major chains.
TORONTO – Imax Corp. has signed a revenue-sharing theater sales deal with Southern Cinemas.
The four theater deal marks the first time Toronto-based Imax has pacted to open and operate joint venture locations in regional markets, beyond existing revenue-sharing deals with exhibition giants like Regal Entertainment.
The agreement will see the giant screen exhibitor and George Solomon’s Southern Cinemas chain jointly install and operate digital theaters in Panama City Beach, Florida, Slidell, Louisiana, Winston-Salem, North Carolina and Macon, Georgia.
The venues are scheduled to open in July 2011.
Revenue sharing deals see Imax underwrite the cost of 2D and 3D projection equipment and screens, while its exhibition partner builds the theaters.