Malco Theatres Enters IMAX Business With Two-Theatre Agreement In the U.S.
NEW YORK, Sept. 12, 2017 — IMAX Corporation (IMAX) (NYSE: IMAX) and Malco Theatres Inc., a leading regional exhibitor in the Southern U.S., today announced a sales agreement for two IMAX® theatres. The first IMAX theatre will be added to the Malco Paradiso Cinema Grill in Memphis, Tenn., and the second to the Malco Razorback Cinema Grill in Fayetteville, Ark.with both IMAX auditoriums slated to open in December. The agreement marks the first-ever IMAX theatres for Malco Theatres, as well as the first commercial IMAX theatre in Memphis and the first-ever IMAX in Fayetteville.
“We are excited to welcome Malco Theatres to the IMAX business, and together look forward to introducing the world’s most immersive cinema going experience to new audiences across Tennessee, Arkansas and the Mid-South,” said Mark Welton, President, IMAX Theatres. “In 2016, our domestic signings reached a three year high and we’re delighted to continue this momentum as exhibitors look for a premium and differentiated offering to get audiences off their couches and into the multiplex.”
“We looked at all of our options regarding a large format solution and came to the conclusion that no one has a better combination of quality, full immersion cinema, and brand awareness than IMAX. We are excited to add The IMAX Experience to these two already great theatres,” said Stephen Lightman, Malco Theatres, President and CEO.