IMAX Opens Theaters in India

Posted by: Michael

IMAX Corporation announced that prominent real estate developer AEREN R Enterprises signed an agreement to add a fourth IMAX(R) theatre to its original three-theatre commitment. The decision follows a strong year for multiplex-based IMAX theatres in India, which play Hollywood blockbusters that have been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R). AEREN R Enterprises has opened its first IMAX theatre in New Delhi in November 2005, which was timed to coincide with the wide release of Harry Potter and Goblet of Fire: The IMAX Experience. Eleven IMAX theatres are scheduled to be open in India by 2008.

"IMAX sees a huge opportunity in India, and we believe our relationship with AEREN R Enterprises will continue to increase brand awareness and drive signings momentum throughout the country," said IMAX Co-CEOs and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "We are encouraged by the strong performance of IMAX theatres in India. This commercial real estate developer is now expanding its commitment to the IMAX theatre business, which reflects the growing consumer demand for The IMAX Experience in this important market."

"Moviegoers in India clearly regard IMAX theatres as the best place to experience Hollywood blockbusters," said Dr. Rajesh J Aeren, Vice Chairman of AEREN R Enterprises. "Our first IMAX theatre in New Delhi has enabled us to differentiate our business from our competitors, and we are excited to include our fourth IMAX theatre as an anchor attraction in our highly anticipated commercial development in Ludhiana."

The new IMAX theatre is expected to open in April 2008 in the city of Ludhiana. It will utilize IMAX MPX(R) technology, which was specifically designed to enable multiplex operators to more cost effectively enter into the IMAX theatre business, either by retrofitting an existing stadium seating auditorium or via an economical new build. AEREN R Enterprises' new IMAX theatre will be capable of playing Hollywood event films that have been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience, as well as original IMAX productions in 2D and IMAX(R) 3D.

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