Imax Expands Pact With Cinepolis With New Eight-Theater Deal

The Mexican-based exhibitor has ordered four more multiplex screens for Columbia and one more each in Brazil, Guatemala, Panama and Peru.

TORONTO -- Giant-screen exhibitor Imax has unveiled an eight-screen deal with Mexican-based exhibitor Cinepolis as it continues its Latin American expansion.

The latest agreement with Cinepolis will see Imax install new theaters in existing multiplexes throughout Latin America.

Four of the super-sized screens will be located in Colombia, with one more each in Brazil, Guatemala, Panama and Peru.

The deal follows an earlier agreement with Cinepolis, which already has six Imax theaters in Mexico and one in Brazil, for five more screens in Mexico and another in India.

"We've been more aggressive recently in the Latin American market with 17 theater signings to date in 2013 – more than triple the number of deals signed in the region in 2012," said Imax CEO Richard Gelfond ahead of his company unveiling its latest third-quarter results Thursday.

Cinepolis operates more than 3,000 screens in 11 countries.