BIG Cinemas' Flagship IMAX(R) Theatre Will Feature IMAX's First Digital
Projection System in India
TORONTO, June 16 /CNW/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and
BIG Cinemas, a division of Adlabs Films Ltd, a Reliance ADA Group company and
India's largest entertainment conglomerate, today announced an agreement to
install IMAX's new digital projection system in BIG Cinemas' flagship IMAX(R)
theatre in the heart of Mumbai. The installation is scheduled to be completed
in July 2009, and will mark the first digital IMAX location in India.
The new IMAX digital projection system will replace the IMAX(R) Dome
system that is currently operating in the BIG Cinemas location at Wadala,
Mumbai. The new technology upgrade is designed to enable BIG Cinemas to take
advantage of the growing slate of Hollywood releases in IMAX and IMAX(R) 3D.
"BIG Cinemas has constantly endeavored to expand our content offerings to
render a world class movie going experience to our guests. Through the
installation of IMAX's digital projection system, we will be able to offer our
guests the world's most immersive movie experience, and even more premium
entertainment options and at a much lower operating cost," said Tushar
Dhingra, COO, BIG Cinemas.
"We're proud to enter this partnership with BIG Cinemas for installing
our first digital projection system in Mumbai, the heart of Bollywood. It is
an important strategic step for us as we look to expand our presence in the
region," said IMAX CEO Richard L. Gelfond. "BIG Cinemas has already done a
fantastic job establishing the IMAX brand in the country, and we're confident
that this new theatre will enable them to reach an even wider audience of
Indian consumers in the future."
The deal adds to the momentum of IMAX's international expansion efforts,
which has been fueled by the introduction of IMAX's digital projection
technology. To date, IMAX has signed contracts for more than 200 IMAX digital
projection systems worldwide, with over 90 currently in operation and at least
115 scheduled to be in operation by year end.
IMAX's revolutionary digital projection system delivers The IMAX
Experience(R) and helps drive profitability for studios, exhibitors and IMAX
theatres by eliminating the need for film prints, increasing program
flexibility and ultimately increasing the number of movies shown on IMAX
screens. The system can run both IMAX and IMAX 3D presentations.
About Adlabs Films Ltd: (BSE: 532399, NSE: "ADLABSFILM")
Adlabs Films Limited (www.adlabsfilms.com), a member of the Reliance Anil
Dhirubhai Ambani Group, is India's fastest growing film and entertainment
services company. Adlabs has a dominant and comprehensive presence in Film
Services: Motion Picture Processing and DI, Film Restoration, Digital
Mastering, Studios and Equipment rentals.
Adlabs Films also operates India's largest cinema chain with about 425
screens spread across India, US and Malaysia. It has a significant presence in
the film distribution space with a nationwide presence across India as well as
offices in London, New York, Los Angeles and Malaysia. Adlabs' television
venture, Synergy Adlabs, is among the top players in the television
About BIG Cinemas
BIG Cinemas, a division of Adlabs Films Limited (www.adlabsfilms.com), a
member of the Reliance Anil Dhirubhai Ambani Group, is India's largest cinema
chain with about 425 screens spread across India, US and Malaysia. After
pioneering the IMAX experience in India, it recently launched 3D and 6D
technology and is the only cinema chain to screen films in all three formats.
It is also launching the first megaplexes in the country.
About IMAX Corporation
IMAX Corporation is one of the world's leading entertainment technology
companies, specializing in digital and film-based motion picture technologies.
The worldwide IMAX network is among the most important and successful
theatrical distribution platforms for major event Hollywood films around the
globe, with IMAX theatres delivering the world's best cinematic presentations
using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is
the Company's groundbreaking digital re-mastering technology that allows it to
digitally transform virtually any conventional motion picture into the
unparalleled image and sound quality of The IMAX Experience(R). IMAX's
renowned projectors display crystal-clear images on the world's biggest
screens, and the IMAX brand is recognized throughout the world for
extraordinary and immersive entertainment experiences for consumers. As of
March 31, 2009, there were 371 IMAX theatres (250 commercial, 121
institutional) operating in 43 countries.
IMAX(R), IMAX(R) 3D, IMAX(R) DMR, The IMAX 3D Experience(R), and The IMAX
Experience(R) 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/imaxnews) and
This press release contains forward looking statements that are based on
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, including the
length and severity of the current economic downturn, the opportunities that
may be presented to and pursued by the Company, the performance of IMAX DMR
films, conditions in the in-home and out-of home entertainment industries, the
signing of theatre system agreements, changes and developments in the
commercial exhibition industry, the failure to convert theatre system backlog
into revenue, investments and operations in foreign jurisdictions, foreign
currency fluctuations and the Company's prior restatements and the related
litigation and ongoing inquiries by the SEC and the OSC. These factors and
other risks and uncertainties are discussed in the Company's most recent
Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
For further information:
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