NEW YORK and PLANO, Texas, March 28,
2019 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and
Cinemark Holdings, Inc. (NYSE: CNK) today announced an expansion of
the companies' partnership with the renewal of all Cinemark's
existing IMAX locations and the installation of two IMAX® with
Laser systems. Cinemark will add IMAX's new groundbreaking laser
experience and 12-channel immersive sound system to a new IMAX®
theatre to be located at the Cinemark complex in Daly City, California as well as upgrade the
existing IMAX theatre at the Cinemark complex in Milford, Connecticut.
With today's announcement, nearly all of Cinemark's IMAX
theatres are now under agreement through 2026. In addition, in
specified circumstances Cinemark shall refresh some of its existing
IMAX theatres with redesigned entryways and enhanced in-theatre
branding. Cinemark opened its first IMAX theatre in 1999 and,
with today's agreement, now has a total of 14 IMAX theatres that
are currently open and one expected to open in the fourth quarter
of 2019.
"Throughout our 20-year partnership, Cinemark and IMAX have
shared some of the world's biggest movies and created a platform
for the best technical and visual advancements in the industry,"
said Mark Zoradi, CEO, Cinemark.
"With the reaffirmation of our commitment with IMAX, we will
continue to provide audiences with the most impactful moviegoing
experience."
"Today's agreement is a testament to the robust performance of
Cinemark's IMAX locations and reaffirms its commitment to giving
audiences the best in immersive cinema-going through The IMAX
Experience®," said IMAX CEO Richard L.
Gelfond. "We're excited to expand upon our 20-year
partnership with Cinemark as we look to continue providing the
differentiated IMAX experience to millions of moviegoers across the
U.S. for years to come. With the recent launch of IMAX with Laser
and the rollout of a world-class brand campaign, we are more
focused than ever on providing audiences with a truly
differentiated blockbuster experience that they can't get anywhere
else."
IMAX with Laser provides audiences with strikingly crystal-clear
and vivid images to suspend disbelief when experiencing today's
largest films. The next-generation 4K
laser projection system features a new optical engine and suite of
proprietary IMAX technologies that delivers increased resolution,
sharper and brighter images, deeper contrast as well as the widest
range of colors available to filmmakers to present more distinct,
exotic colors than ever before.
The new system will also feature IMAX's 12-channel sound
technology that incorporates new side and overheard channels to
deliver greater dynamic range and precision for ultimate audio
immersion and sound you can feel.
To date, the Company has signed agreements for more than 200 of
its new IMAX with Laser systems worldwide.
About Cinemark Holdings, Inc.
Cinemark is a leading
domestic and international motion picture exhibitor, operating 546
theatres with 6,048 screens in 41 U.S. states, Brazil, Argentina and 13 other Latin American
countries as of December 31, 2018.
For more information, go to investors.cinemark.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 additional
offices in London, Dublin, Tokyo, and Shanghai. As of December 31, 2018, there were 1,505 IMAX theater
systems (1,409 commercial multiplexes, 14 commercial destinations,
82 institutional) operating in 80 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary
of IMAX Corp., began trading on the Hong Kong Stock Exchange under
the stock code "HK.1970."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D
Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX
nXos® 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).
For additional information please contact:
Media:
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Investors:
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IMAX
Corporation – New York
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IMAX
Corporation – New York
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Adam Davis
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Michael K.
Mougias
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212-821-0116
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212-821-0187
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adavis@imax.com
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mmougias@imax.com
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Cinemark
|
Cinemark
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Lanay
Fournier-Stokes, 972.665.1680
|
Chanda Brashears,
972-665-1671
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communications@cinemark.com
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cbrashears@cinemark.com
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SOURCE IMAX Corporation