Cineworld, IMAX Expand Revenue Share Partnership
MAX Corporation (NYSE: IMAX) and Cineworld Group PLC, the UK's largest cinema chain, today announced an expansion of the companies' revenue sharing agreement with an IMAX theatre to be added at a location yet to be determined and the installation of IMAX's next-generation laser digital projection technology at Glasgow Science Centre's IMAX® theatre in Scotland. This deal brings Cineworld Group's IMAX commitment to 13 under the parties' revenue share arrangement.
Cineworld has recently reached an agreement with the Glasgow Science Centre, an IMAX exhibitor since 2000, to take over the operations of its IMAX theatre – the first IMAX theatre in Scotland. Under the terms of the deal announced today, Cineworld will install an IMAX digital theatre system before transitioning to IMAX's dual 4K laser system.
"Cineworld is delighted to add another IMAX theatre to our circuit and to install IMAX's upcoming laser solution at the Glasgow Science Centre, which will allow us to present the full spectrum of IMAX content," said Crispin Lilly, Vice President of Business