Toronto-based Imax Corp. has signed an agreement with US exhibitor Regal Entertainment Group to install giant screen systems at Regal's recently-acquired subsidiary circuits, four in its Edwards Theatres facilities and one in an United Artists facility.
The deal gives Imax certain exclusivity rights as Regal's large-format provider - the company's giant-screen inventory will increase to eleven - and resolves the legal dispute between the companies concerning Edwards bankruptcy.
Regal, the world's largest exhibition company, bought the Edwards and United Artists circuits out of bankruptcy earlier this year; Imax, an Edwards creditor, claimed Edwards had obligations of approximately $30m. The new agreement is subject to Edwards bankruptcy court approval.
In a statement, Regal CEO Michael Campbell said the decision to nearly double its giant-screen operations was driven by the introduction of Imax's DMR technology, which enables the conversion of conventional live-action theatrical films for large-format projection. Thus far two films have been converted, Ron Howard's Apollo 13, which was released in September, and George Lucas' Star Wars: Episode II Attack Of The Clones, which opens Nov. 1 exclusively on Imax screens.