IMAX Signs Five Theatre Joint Venture Deal With Regal Cinemas, Inc.

    Deal To Expand Relationship with World's Largest Exhibitor to 21 IMAX(R)
    Theatres and Include Three Digital IMAX Theatre Systems

    TORONTO, Oct. 2 /CNW/ - IMAX Corporation (NASDAQ:  IMAX; TSX:IMX) and Regal
Cinemas, Inc., a subsidiary of Regal Entertainment Group, the world's largest
theatre chain, today announced a joint venture agreement for five IMAX(R)
theatre systems. The deal includes the first North American order for IMAX's
digital projection technology, which is currently in the advanced stages of
development. The five IMAX theatres announced today will expand the joint
venture partnership between IMAX and Regal Cinemas to seven, and bring Regal's
total number of IMAX theatres to 21 by the second quarter of 2009.
    Under the terms of the joint venture agreement, IMAX and Regal Cinemas
will share the cost and profitability of the new theatres. Two IMAX MPX(R)
theatres will be operating before the end of 2007 in Knoxville, TN and
Las Vegas, NV. The remaining three theatres are to utilize IMAX's digital
projection technology, and are expected to be installed during the fourth
quarter of 2008 and second quarter of 2009 in Seattle, WA and two other
locations in the western United States. The film-based systems will be
upgraded to IMAX's digital system when it is available. The deal marks the
second multiple IMAX digital theatre agreement in as many weeks.
    "Just six months ago, we entered a two-theatre JV agreement to install
IMAX theatres in Portland and San Diego," stated Mike Campbell, CEO of Regal
Entertainment Group. "The early results have been very strong, prompting us to
expand this relationship. We were particularly pleased with our analysis of
the digital system IMAX is developing, which delivers an engaging and
immersive experience that makes us very comfortable with their next generation
    "Regal Cinemas has been one of the best IMAX operators in the world, and
the results of our first joint ventures reflect their talents," said IMAX's
Co-Chairmen and Co-CEOs, Richard L. Gelfond and Bradley J. Wechsler. "We are
extremely pleased to be expanding our relationship, and we are excited about
the new locations. We are also encouraged by how impressed Regal executives
were with the digital system we are developing, and their subsequent
commitment to include this new technology moving forward."
    IMAX's fall/winter film slate includes Transformers, the summer's highest
grossing blockbuster, on September 21, the highly anticipated Robert Zemeckis
film Beowulf in IMAX 3D on November 16, and the next big Will Smith adventure,
I Am Legend on December 14.

    About Regal Entertainment Group

    Regal Entertainment Group (NYSE:  RGC - News) is the largest motion picture
exhibitor in the world. The Company's theatre circuit, comprising Regal
Cinemas, United Artists Theatres and Edwards Theatres, operates 6,368 screens
in 529 locations in 39 states and the District of Columbia. Regal operates
theatres in all of the top 25 and 43 of the top 50 U.S. markets and growing
suburban areas. We believe that the size, reach and quality of the Company's
theatre circuit not only provide its patrons with a convenient and enjoyable
movie-going experience, but is also an exceptional platform to realize
economies of scale in theatre operations. Additional information is available
on the Company's Web site at

    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 3D, and IMAX DMR(R) technology. IMAX DMR is the
Company's groundbreaking digital remastering technology that allows it to
digitally transform virtually any conventional motion picture into the
unparalleled image and sound quality of The IMAX Experience. 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 June 30, 2007, there
were 290 IMAX theatres operating in 40 countries.

    IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) MPX(R), and The IMAX
    Experience(R) are trademarks of IMAX Corporation. More information on the
    Company can be found at

    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 ongoing
discussions with the SEC and OSC relating to their ongoing inquiries and the
Company's financial reporting and accounting, the timing of theatre system
deliveries, the mix of theatre systems shipped, the timing of the recognition
of revenues and expenses on film production and distribution agreements, the
performance of films, the viability of new businesses and products, risks
arising from potential material weaknesses in internal control over financial
reporting and fluctuations in foreign currency and in the large format and
general commercial exhibition market. These factors and other risks and
uncertainties are discussed in the Company's Annual Report on Form 10-K for
the year ended December 31, 2006, as well as the Company's Quarterly Report on
Form 10-Q.

For further information:

For further information: Media: IMAX Corporation, New York, Sarah
Gormley, (212) 821-0155,; Entertainment Media: Newman &
Company, Los Angeles, Al Newman, (310) 278-1560,; Investors:
Integrated Corporate Relations, Amanda Mullin, (203) 682-8243; Business Media:
Sloane & Company, New York, Whit Clay, (212) 446-1864,

Organization Profile

IMAX Corporation

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890