Eastward Ho!: IMAX Adds 15 Theaters in China

The company is partnering with Korean media conglomerate CJ CGV Co.

IMAX is continuing its Far East expansion. 

The big screen company will add 15 new theaters in China, IMAX announced Tuesday.

The move comes as part of a  revenue sharing agreement with a subsidiary of Korean media conglomerate CJ CGV Co.

Under the  agreement, the first IMAX systems will be installed in 2011, with all remaining installations expected to be completed between 2013 and 2017.  

The move makes CJ CGV the second-largest IMAX exhibitor in Asia and the fourth-largest worldwide.

IMAX's announcement comes a month after the company named Jiande Chen CEO of IMAX China, giving him oversight of the company’s expansion into the country as well as its relationship with the Chinese entertainment industry.

Through the first eight months of 2011, IMAX theaters in China grossed more than $40 million. There are currently 48 theaters in the country, and IMAX has said it plans to have 181 theaters open by 2015.



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