Imax Corp. and Wanda Cinema Line of China Sign Theatre Deal
Toronto-based entertainment technology company, Imax Corporation, and Wanda Cinema Line Corporation, a cinema chain in China, announced an agreement to expand their relationship with the installation of three additional Imax systems in the cities of Quanzhou, Wuhan and Dalian. These theatres are in addition to the four Imax locations the exhibitor already operates and the seven Imax locations it currently has scheduled to open. The agreement brings the total number of Imax theatres to be operated by Wanda Cinema Line by the end of 2012 to 14. China is Imax Corporation’s fastest-growing market, with more than 50 Imax theatres scheduled to be operating in the country by 2012. As of March 31, 2010, there were 438 Imax theatres (316 commercial, 122 institutional) operating in 47 countries.