Large-format cinema leaderIMAX and Chennai, India-based exhibitor Sathyam Cinemas have signed anagreement that increases to four the number of IMAX cinema systems destined forthe circuit.
The first will open in thecity in March 2006, with another to follow in 2008. Currently, Sathyam'sChennai flagship location is the highest attended cinema complex in the nation.The other two cinemas will open in 2007 and 2008 in as yet undisclosedlocations. All four will be capable of playing IMAX DMR versions of Hollywoodtitles as well as original IMAX and IMAX 3D pictures.
IMAX says India is one ofits fastest-growing markets, with 11 cinemas scheduled to open by 2008. In aprepared statement, co-chairs and co-CEO Rich Gelfond and Brad Wechsler said the market wouldcontinue to present growth potential for their firm.
Sathyam managing directorKiran Reddy commented, "Indian moviegoers are payinga premium ticket price for blockbusters in IMAX's format, and we've been veryimpressed with the recent films' grosses in Hyderabad and Mumbai."