Montreal's Leading Regional Exhibitor Builds on IMAX Dual-Screen Success; Brings Total IMAX Commitment to 10
MONTREAL, April 15, 2013 /CNW/ - IMAX Corporation (NYSE: IMAX;TSX: IMX) today announced an expansion of its revenue sharing agreement with Cinemas Guzzo for an additional two IMAX® theatre systems. The exhibitor will add a second IMAX theatre to its new construction project, the Mega-Plex St. Therese 10 in Sainte-Therese. In addition, Cinemas Guzzo will add an IMAX theatre at its Mega-Plex Lacordaire 16 in Montreal. Today's deal brings to 10 the exhibitor's total IMAX commitment.
The IMAX theatres slated to open at the Mega-Plex St. Therese 10 mark Cinemas Guzzo's third installation of two IMAX screens within a single multiplex. The first dual IMAX installation is located at the Mega-Plex Marche Central 18 in Montreal, with the second at the Mega-Plex Taschereau 18 in Brossard.
"With today's agreement, we are building on the success of our IMAX network and our existing IMAX dual-screen sites, which are a hit among our guests who appreciate the convenience of catching Hollywood's biggest IMAX blockbusters in both official languages in one premium location," said Vincenzo Guzzo, Executive Vice President, Cinemas Guzzo. "IMAX shares our commitment to delivering the ultimate entertainment experience and we are pleased to offer our patrons more of what they want – IMAX."
"Cinemas Guzzo is a world-class IMAX partner. Their commitment to quality and support of the IMAX brand is second to none as evidenced in both their operations and marketing," said Mark Welton, President, IMAX Theatres. "We're delighted with their success to date, in particular the IMAX dual-screen sites – the first such sites in the IMAX network – and together we look forward to offering The IMAX Experience® to more audiences across the greater Montreal area."
About Les Cinemas Guzzo
Part of the Quebec cinema scene since 1974, the family-owned Cinemas Guzzo was founded by Angelo Guzzo, who for many years led the struggle for independent movie theatre owners to obtain the right to project first-run movies, thus opening the way for others. Angelo Guzzo and son Vincenzo continue to work as a team to bring moviegoers the best that cinema has to offer. The company has more than 142 digital screens, mainly in the Montreal area, and supports environmental cancer research through the Guzzo family Foundation. For more information, visit www.cinemasguzzo.com.
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. These 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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IMAX Corporation, New York
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Executive Vice President
SOURCE: IMAX Corporation
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