Companies Announce Paani to be Released in IMAX® Theatres Across India
and Other Key Markets
MUMBAI, India, March 13, 2013 /CNW/ - IMAX Corporation (NYSE: IMAX;
TSX:IMX) and Yash Raj Films Pvt. Ltd., India's largest film studio,
today announced an expansion of their partnership to release Paani as well as an additional Yash Raj Films motion picture to IMAX® theatres across India and other key markets. The agreement brings the
total number of films included under the expanded partnership to three,
the first of which is the upcoming action thriller DHOOM: 3, which will open in IMAX theatres this winter.
(Logo: http://photos.prnewswire.com/prnh/20111107/MM01969LOGO )
"Since announcing the IMAX release of DHOOM: 3, we've seen tremendous anticipation building among Indian moviegoers
around this first-ever IMAX release of a Hindi feature film, and we're
excited to add to this excitement with two more of our highly
anticipated films, including our most ambitious one, Paani," said Aditya Chopra, Chairman, Yash Raj Films Pvt. Ltd. "We believe
that together with IMAX, we will usher in a new era in Indian
movie-going that will immerse fans into the drama, action and grandeur
of Hindi movies like nothing they've experienced before."
"We are delighted to build on our relationship with Yash Raj Films,
which has been an integral part of India's entertainment business for
over 40 years, and deliver on our strategy to expand our Bollywood film
slate," said Greg Foster, Chairman and President, IMAX Entertainment.
"As we continue to grow our network across India, we are committed to
offering the nation's growing IMAX fan base an elevated movie-going
experience that transports them into Bollywood's best."
PAANI is based in a future world where wars over water have broken out. Water
is now owned by International Corporations who use thirst as a weapon
of control. In one such future city, a young love story breaks all the
rules and in the ensuing war, water flows back to its people. The film
will have a strong Indian and Western star cast, headed by a young
leading actor from India and a young leading actress from the west.
The film, produced by Aditya Chopra and directed by Shekhar Kapur, will
be shot in India and overseas. Music is by the highly acclaimed Academy
Award®-winning and Grammy Award®-winning A. R. Rahman.
Paani will be digitally re-mastered into the image and sound quality of The
IMAX Experience® with proprietary IMAX DMR® (Digital Re-mastering) technology for presentation in IMAX®. The crystal-clear images, coupled with IMAX's customized theatre
geometry and powerful digital audio, create a unique immersive
environment that will make audiences feel as if they are in the movie.
Today's agreement was announced during the 2013 FICCI Frames conference
in Mumbai, at which Greg Foster will be delivering a keynote address as
well as participating in the "1000 crore Block Buster Film" panel on
Wednesday, March 13 at 3:15 pm.
About Yash Raj Films (YRF)
Yash Raj Films is the leading player in the Indian film industry and the
country's premier independent Studio conglomerate. The Company's core
lies in the production and distribution of some of the industry's
highest grossing films. With offices also in New York, London, and
Dubai, YRF handles the global distribution of its own films. The
Company also has its own music and home entertainment labels, design
cell and post-production facilities, internet, digital, merchandising,
licensing, marketing and talent management divisions, as well as
in-house units focused on the creation of television software, ad
films, and music videos. YRF also has its own state-of-the-art fully
integrated Studio, producing a slate of films annually, and thus making
it an integral part of the entertainment business in India. It has also
set up a youth films division, Y Films focused on making films on the
youth and become the key platform for giving opportunities for new
talent. The Studio also announced its foray into the International
space, YRF Entertainment, which has already completed its first
project, "The Longest Week" and its next project, "Grace of Monaco" has
also completed shooting.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary
software, architecture and equipment to create experiences that take
you beyond the edge of your seat to a world you've never imagined. Top
filmmakers and studios are utilizing IMAX theatres to connect with
audiences in extraordinary ways, and, as such, IMAX's network is among
the most important and successful theatrical distribution platforms for
major event films around the globe.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices
in London, Tokyo, Shanghai and Beijing. As of Dec. 31, 2012, there were
731 IMAX theatres (598 commercial multiplexes, 19 commercial
destinations and 114 institutions) in 53 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience® and IMAX Is Believing® are trademarks of IMAX Corporation. More information about the Company
can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
This press release contains forward looking statements that are based on
IMAX management's assumptions and existing information and involve
certain risks and uncertainties which could cause actual results to
differ materially from future results expressed or implied by such
forward looking statements. Important factors that could affect these
statements include, but are not limited to, general economic, market or
business conditions; the opportunities (or lack thereof) that may be
presented to and pursued by the Company; the performance of IMAX DMR
films; competitive actions by other companies; conditions in the
in-home and out-of-home entertainment industries; the signing of
theater system agreements; changes in laws or regulations; conditions,
changes and developments in the commercial exhibition industry; the
failure to convert theater system backlog into revenue; risks
associated with investments and operations in foreign jurisdictions and
any future international expansion, including those related to
economic, political and regulatory policies of local governments and
laws and policies of the United States and Canada; risks related to the
Company's growth and operations in China; the failure to respond to
change and advancements in digital technology; risks related to the
acquisition of AMC Entertainment Holdings, Inc. by Dalian Wanda Group
Co., Ltd.; risks related to new business initiatives; the potential
impact of increased competition in the markets within which the Company
operates; risks related to the Company's inability to protect the
Company's intellectual property; risks related to Eastman Kodak
bankruptcy and the possibility of constrained film supply; risks
related to the Company's implementation of a new enterprise resource
planning system; risks related to the Company's prior restatements and
the related litigation; and other factors, many of which are beyond the
control of the Company. These factors and other risks and uncertainties
are discussed in IMAX's most recent Annual Report on Form 10-K and most
recent Quarterly Reports on Form 10-Q.
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