Exhibition companies AMC Entertainment and IMAX Corp. have expanded their partnership to include up to 25 new digital mega-screen theaters set to open by next year.
The agreement, which calls for a minimum of 15 new outlets to be built by 2011 in North America, also increases the length of the AMC/IMAX partnership from seven to 10 years.
The new theaters will be built in markets not yet reached by the two companies, as well as some existing ones. The companies did not announce specific locations.
Currently, AMC and IMAX jointly operate 79 theaters across the U.S. and Canada, with 25 currently under construction. AMC will operate between 125-135 IMAX-equipped theaters once all is said and done.
“We are pleased to expand our relationship with IMAX, a valued partner in offering our guests the best out-of-home entertainment experience,” said Gerry Lopez, CEO and president, AMC, in a prepared statement. “Our guests clearly choose to see movies in our IMAX auditoriums because the experience is unparalleled in terms of sight and sound, and it continues to be the premium offering in our portfolio of moviegoing options.”
Also included in the agreement was an increased allocation of operating costs to IMAX.
