IMAX Corporation and Regal Cinemas announced a joint-venture agreement to install 31 IMAX Digital projection systems at Regal locations in 20 major U.S. markets.
The theaters will feature IMAX's Digital projection system which is being developed for the IMAX MPX theatre design. The 31 IMAX theaters announced today will expand the joint venture partnership between IMAX and Regal Cinemas to 38 theaters, and bring Regal's total number of IMAX theaters to 52 by the end of 2010.
Under the terms of the joint venture agreement, IMAX and Regal Cinemas will share the cost and profitability of the new theaters. The first group of theaters is expected to open in time for HARRY POTTER AND THE HALF BLOOD PRINCE: THE IMAX EXPERIENCE, which opens on November 21.
The IMAX Digital projection system will further enhance The IMAX Experience and help to drive profitability for studios, exhibitors and IMAX theaters by virtually eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens.
IMAX has already secured important parts of its film slate for 2008, 2009 and 2010 through agreements with major Hollywood studios including: THE SPIDERWICK CHRONICLES (in theatres now), SHINE A LIGHT (April 4), SPEED RACER (May 9), KUNG FU PANDA (June 6), THE DARK KNIGHT (July 19), HARRY POTTER AND THE HALF BLOOD PRINCE (November 21), UNDER THE SEA 3D (February 2009), MONSTERS VS. ALIENS 3D (March 2009), HUBBLE 3D (working title, February 2010), HOW TO TRAIN YOUR DRAGON 3D (March 2010), and SHREK GOES FOURTH 3D (May 2010).
