Imax and CJ CGV Co. Ltd. Sign Joint Venture for Up to 15 New Theatres in South Korea

Toronto-based entertainment technology company, Imax Corporation, announced that CJ CGV Co. Ltd., a theatre exhibitor in South Korea, signed an agreement to install up to 15 new digital Imax theatre systems and to upgrade four existing film-based Imax theatres to digital systems. Under the terms of the agreement, CJ CGV will add ten new joint venture locations in the major cities of South Korea with an option to increase that number to 15. The rollout of new locations is expected to begin later this year. Additionally, the exhibitor will upgrade four of its existing Imax film-based locations, which are not structured as joint ventures, to Imax’s digital projection system.