IMAX TO BUILD OWN THEATRE CHAIN
By Adnews Staff
Toronto-based IMAX Corp. plans to open 40 of its own giant-screen theatres worldwide over the next five years. Four of these theatres will be built next year. Currently IMAX licences others to build and operate giant screen theatres and leases its large format movie projection systems to them. When asked how advertising would be handled for the theatres, an Imax staff member speaking for senior vice-president Greg Breen told Adnews, "At the present time we intend to handle it within the existing organizational structure." PR is done by Edelman Worldwide of Toronto. The company hopes to build attractions at centres combining retail stores, restaurants and movie theatres in one location. Proceeds from a $100-million private placement last month will help finance the building of the theatre chain. There are currently 135 IMAX theatres around the world and an order backlog for 45 more.