Imax Corp. has expanded a joint venture agreement with movie exhibitor AMC Entertainment and will install another 15 to 25 new Imax theatres next year in the United States.
The Toronto-area company did not disclose financial details of the arrangement with AMC but said it adds to a 104-screen agreement signed in 2007.
Under that deal, 79 of those screens are already in use, while 25 are anticipated to open in the United States and Canada by the end of this year.
Once the entire agreement is completed, AMC will operate between 125 and 135 Imax theatres.
“We are proud to continue being the largest exhibitor partner of IMAX, and we are committed to providing our guests with the best choices in moviegoing,” AMC president and CEO Gerry Lopez said in a release.
Imax noted that the revised joint venture includes adjusted costs to help AMC handle higher operating expenses.
“We are also excited that through this expansion, we expect to increase the number of potential IMAX theatres in North America beyond the 400 locations we originally targeted,” said Imax CEO Richard Gelfond.