IMAX Signs Revenue Share Deal in China With CJ CGV Holdings

IMAX Corporation

today announced that CJ CGV HOLDINGS, LTD, a subsidiary of Korean media conglomerate CJ CGV Co. Ltd., has signed a revenue share agreement to add 15 new IMAX® digital theatre systems in the People's Republic of China. Under the terms of the agreement, CJ CGV HOLDINGS, LTD is scheduled to install the first IMAX systems in 2011, with all remaining installations expected to be completed between 2013 and 2017. Today's announcement brings CJ CGV's IMAX commitment to a total of up to 50 theatres: 20 in South Korea and 30 IMAX revenue share theatres in China. With today's announcement, CJ CGV is the second-largest IMAX exhibitor in Asia and the fourth-largest worldwide.