IMAX Corp. and China's Wanda Cinema Line Corp. have signed an agreement that will see ten IMAX cinemas installed in the People's Republic of China, including seven IMAX digital cinema systems. The deal is the largest-ever multiple-cinema deal in Asia.
All ten cinemas are expected to be installed by 2010, with two installations scheduled for December of this year in the cities of Changsha and Changchun. Other identified cities include Beijing, Chongqing and Wuxi. In all, 39 IMAX cinemas are scheduled to open in the country. Wanda has the option to upgrade the three MPX systems to digital, and to opt out of the final five installations subject to a material penalty.
Property developer Wanda is the fastest-growing exhibitor in China with 121 screens in 15 locations. The company has plans to add 100 to 150 screens each year between 2008 to 2010.
All ten cinemas are expected to be installed by 2010, with two installations scheduled for December of this year in the cities of Changsha and Changchun. Other identified cities include Beijing, Chongqing and Wuxi. In all, 39 IMAX cinemas are scheduled to open in the country. Wanda has the option to upgrade the three MPX systems to digital, and to opt out of the final five installations subject to a material penalty.
Property developer Wanda is the fastest-growing exhibitor in China with 121 screens in 15 locations. The company has plans to add 100 to 150 screens each year between 2008 to 2010.
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