IMAX and Regal Entertainment Group(R) Expand Joint Venture Relationship for up to 25 New IMAX(R) Theatres
NEW YORK and KNOXVILLE, Tenn., Oct. 1, 2010 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and Regal Entertainment Group (NYSE:RGC), today announced an expansion of the companies' joint venture agreement to include installation of an additional 16 to 25 new IMAX(r) theatres in the United States. These theatres, which are part of an amendment to the parties' original 2008 joint venture agreement, are in addition to Regal's previously committed rollout of 39 IMAX joint venture theatres, 34 of which are in currently in operation. As part of the agreement, Regal also plans to upgrade eight of its existing film-based IMAX theatres with IMAX's digital projection technology.