IMAX set to build 10 theatres in China

IMAX Corporation, IMAX China and Shanghai Aurora Movie Group have signed an agreement to build 10 additional IMAX theatres in China.Under the terms of the deal, eight of the theatres will be added to the company's new construction projects to be located throughout the country. The locations of the remaining two theatres are yet to be determined.Lu Jiantong, vice president of Shanghai Aurora Movie Group, said the group will leverage the IMAX experience to strengthen its business and provide better movie-watching experience for audience while expanding its cinema circuit.IMAX Corp. CEO Richard L. Gelfond said the agreement indicates that IMAX’s business is stronger than ever in China."Interest in IMAX continues to build among our existing partners and new exhibitors as they seek to differentiate their theatres with the ultra-immersive IMAX format."