Imax, Regal Entertainment Expand Joint Venture Theater Deal

IMAX Logo - H 2012

IMAX Logo - H 2012

The U.S. exhibitor has ordered another 10 screens to bring its commitment to 87 screens in all.

TORONTO - Regal Entertainment has ordered another 10 Imax theaters to bring an existing joint revenue sharing agreement to 87 screens in all.

“Imax is a key component in our strategy to offer premium moviegoing experiences to our customers and we're pleased to announce another expansion of our relationship," Regal Entertainment Group CEO Amy Miles said Thursday in a statement.

Regal has already opened 70 Imax theaters, having first struck a joint venture with the Toronto-based giant screen exhibitor in 2008.

The cinema chain in 2010 expanded the jv deal by committing to bring to have 77 Regal Imax theaters in operation by the end of 2012.