ITV

Tag: Imax

  • IMAX enters into expanded $200 million credit facility

    IMAX enters into expanded $200 million credit facility

    MUMBAI: Canadian giant screen exhibitor IMAX Corporation said t has entered into an amended senior secured credit facility for up to $200 million with Wells Fargo Bank, National Association, with the participation of Export Development Canada (EDC), the Canadian Imperial Bank of Commerce (CIBC), the Royal Bank of Canada (RBC), HSBC Canada, and the National Bank of Canada.

    Wells Fargo serves as administrative agent, sole lead arranger and sole bookrunner on the transaction. The new facility replaces IMAX‘s previous $110 million facility with Wells Fargo and EDC and will permit IMAX to undertake up to $150 million in stock buybacks and dividends provided certain covenants are maintained.

    IMAX intends to use proceeds from the new facility to refinance the existing revolver and for general corporate purposes, such as funding its strategic initiatives, including its continued global expansion, ongoing working capital requirements, investments and capital expenditures. The maturity date of the new credit facility is 7 February, 2018, compared with a maturity date of 31 October, 2015, for the prior credit facility.

    Borrowings under the new credit facility will bear interest at the reduced spread of 1.50 per cent to 2 per cent above LIBOR, depending on maximum total leverage outstanding.

    “This new facility, coupled with the recurring cash generated by our business, will provide us with enhanced flexibility as we pursue our strategic initiatives and continue the global expansion of our business,” said IMAX CEO Richard L. Gelfond.

  • 3net reaches 40 mn households in two years

    3net reaches 40 mn households in two years

    MUMBAI: 3net, the joint venture 3D network from Discovery, Sony and Imax, has reached 40 million US households even as it approaches its second anniversary on 13 February

    3net is available across five programme distribution affiliates, including DirecTV, Comcast, Service Electric Cablevision and Netflix.

    In addition to the network‘s specials, concerts and one-off documentaries debuted over the past two years, February also marks a programming milestone for 3net, as the network premieres its 13th 3D series.

    3net said it has benefited significantly from the rise of 3D TV adoption, with 3D televisions currently in almost one quarter of all homes in the U.S. and industry forecasts for significant further growth in 2013. By contrast, HD television had achieved low single digit household penetration at the same point in its evolutionary cycle more than a decade ago.

    3net president, CEO Tom Cosgrove said, “With 3D televisions already in nearly 25 million US households – and industry predictions of dramatic in-home 3D growth this year – we celebrate our second anniversary with a continued commitment to meeting the ever-growing consumer appetite for high-quality, original 3D television content.

    “We‘re proud to make our unique brand of immersive, original 3D programming available to more than 40 million US homes, and we look forward to further growth in the in-home 3D market as more consumers embrace the format – particularly as the electronics industry continues to include 3D as a feature available in nearly all of the new television models available to consumers this year, including every UHD/4K set coming to market.”

    3net also recently launched 3net Studios, with an overarching mission to fuel not only the flagship US channel service, but also to make the highest quality native 3D and 4K content available to consumers around the globe through a broad array of international distribution partners.

    ‘Crazy Land‘ is a new original series which explores the great American subcultures and the unusual people who inhabit them. In the first episode, ‘Real Life Super Heroes‘, young people are donning masks and capes to create a new breed of true-life super heroes. These costumed crusaders are putting themselves on the front line, whether by confronting muggers, drug dealers or feeding the homeless.

  • IMAX in a far-reaching deal with Warner Bros

    IMAX in a far-reaching deal with Warner Bros

    MUMBAI: In a far-reaching deal with Warner Bros, IMAX has decided to screen the opening nine minutes of Star Trek Into Darkness in IMAX 3D this December but it also ensured that twenty of Warner Bros. Pictures‘ films would arrive on IMAX screens in the coming years.

    Observed IMAX President Greg Foster, "It‘s more moving the ball forward. Continuing to solidify all of our relationships; we have a unique relationship with Warner Bros. but have unique relationships with all the studios."

    Foster sees Warner Bros. as a studio that perfectly aligns with the IMAX brand and business model. "Warner Bros. has a very specific strategy for the past ten years that plays specifically to our brand," averred Foster. "They‘re in the tentpole business. Whether it‘s the Harry Potter franchise or the Batman franchise or the Hobbit franchise or the Superman franchise — those are the movies that are right up in our wheelhouse."

    WB‘s announcement named a handful of event titles lined up for IMAX‘s signature digital remastering process, including Jack the Giant Slayer, Man of Steel, Pacific Rim, 300: Rise of an Empire, Alfonso Cuaron‘s Gravity, The Seventh Son, and next year‘s Hobbit sequel, The Desolation of Smaug.

    IMAX and Warner Bros. set up a similar deal in 2010, and like that collaboration, IMAX is still free to bring the films of other studios to the large screen format. "We‘ve got two movies from Lionsgate: Ender‘s Game and Catching Fire," said Foster. "We have movies with Disney, one that we‘ve announced and others we haven‘t announced and are pursuing and making work, and I think we probably will. We have Star Trek [Into Darkness]. We‘ve had an incredible run with Sony for Bond right now. We‘ve got Oblivion and Jurassic Park for Universal — it‘s a big marketplace. "
     

  • Imax to release Paranormal Activity 4 on 18 October

    Imax to release Paranormal Activity 4 on 18 October

    MUMBAI: Imax has declared that Paranormal Activity 4 would be released on its screens in North America from 18 October.
    The deal with Paramount Pictures will put the fourth installment of the studio‘s supernatural thriller franchise in around 300 Imax digital theatres in the region with the film‘s simultaneous wide release.
    Paranormal Activity 4, which is directed by Paranormal 3 helmers Henry Joost and Ariel Schulman, will be super-sized by Imax for the big screen release.
    The latest Paranormal Activity installment takes place five years after the second film, which ended with Katie kidnapping baby Hunter.

  • Dhoom:3 first Bollywood movie to release in Imax

    Dhoom:3 first Bollywood movie to release in Imax

    MUMBAI: Aamir Khan-starrer Dhoom:3, the action thriller from Yash Raj Films, will be the first Bollywood film to release in Imax theatres across India and select global locations next winter.

    Imax, which operates four theatres in India, will digitally re-master the movie into the image and sound quality with proprietary Imax DMR (Digital Re-mastering) technology.

    From producer Aditya Chopra and director Vijay Krishna Acharya, and starring Aamir Khan, Dhoom:3 is the next installment in one of the most popular franchises in Indian box office history.

    Also starring Abhishek Bachchan, Uday Chopra and Katrina Kaif, the film tells the story of the adventures of Jai Dixit, a no-nonsense cop, and his scatterbrained partner, Ali. The success of Dhoom and Dhoom:2 have established this as Bollywood‘s pre-eminent franchise.

    “Imax has always symbolised high-quality film entertainment and experience and this vision of the company works very well with the ethos of YRF, which has been synonymous with Indian film entertainment over the last four decades,” said Yash Raj Films chairman Yash Chopra.

    “We are indeed happy to announce our association with Imax for the additional release of Dhoom:3 in this exciting format next year. Added to the anticipated thrill that the film promises, this Imax experience will give it an all-new edge-of-the-seat dimension altogether. We look forward to closely working with their team over the coming year.”

    “Our network growth in India has reached a point where we‘re now able to present local-language films in Imax, which is paramount to our success in the region,” said Imax Filmed Entertainment Chairman and President Greg Foster.

    “We‘re very excited to begin this partnership with Yash Raj Films and look forward to working with director Vijay Krishna Acharya and Yash & Aditya Chopra on this highly anticipated Bollywood blockbuster. With its riveting action set pieces, global locales and stunning visuals, Dhoom:3 is an ideal film to take advantage of our immersive format as we begin our initiative with Indian-language/Bollywood films.”

  • Imax CEO doesn’t expect Hollywood films in a lot in China

    Imax CEO doesn’t expect Hollywood films in a lot in China

    Mumbai: Imax CEO Richard Gelfond doesn‘t expect many Hollywood films to clash at local multiplexes in China. He told the Goldman Sachs‘ Communacopia conference that Chinese authorities directing screen traffic in the Asian market weren‘t impressed with the results when Warner Bros.‘ The Dark Knight Rises and Columbia Pictures‘ The Amazing Spider-Man opened simultaneously in China on Imax screens on 27 August.
    “My guess is they‘re going to rethink that,” Gelfond told investors.
    Gelfond argued the cannibalisation was less about reducing slots for Hollywood movies than opening up screen time for Chinese films to bring the ratio of local and foreign movies in China more into balance.
    “Instead of two Hollywood films stretching out over two months, they wanted one month for Chinese films,” Gelfond said while speaking on creating black-out periods for non-domestic films by bunching Hollywood titles.
    Gelfond, who was in China last week,as part to hold discussions with government authorities, said the arms-length China Film Group, that charges a fee to import foreign titles, makes less money when Hollywood films don‘t follow one after the other.
    And Chinese exhibitors make less money as well, and are more interested in attracting consumers to their shopping malls by building multiplexes, than protecting local films.

  • PVR in an agreement with IMAX

    PVR in an agreement with IMAX

    MUMBAI: PVR Ltd. (PVR Cinemas), India‘s leading cinema brand and operator of the country‘s top-performing multiplexes, has entered into an agreement to install an IMAX theatre system in Bangalore that is scheduled to open by March next year.

    The deal follows an earlier agreement with PVR Cinemas announced in March last year for four IMAX theatres, bringing the exhibitor‘s total IMAX commitment to five. The deal also brings to 14 the total number of IMAX theatres open or contracted to open in India.

    “Audiences across India are passionate about cinema and with IMAX‘s worldwide brand, more and more patrons want to experience films in the premium immersive format only IMAX can deliver,” said PVR Chairman Ajay Bijli. “We view IMAX as a competitive advantage for our business and we are delighted to bring more audiences in Bangalore The IMAX Experience,” he added.

    Going by the terms of today‘s agreement, PVR Cinemas will install an IMAX theatre in a multiplex in Bangalore‘s Vega Mall – a new construction project that is slated to open by March 2013. The exhibitor also plans to open two of its previously contracted IMAX theatres in existing complexes in Bangalore and Mumbai this year, with the other two IMAX theatres set to go into new construction projects in the cities of Delhi and Noida that are slated to open in 2012 and 2014 respectively.

    IMAX CEO Richard L. Gelfond said, “We‘re excited to expand our partnership with PVR – now our second largest exhibitor in India. With a population of 1.2 billion, a growing middle-class and strong movie-going culture, India is a market poised for tremendous growth. We also believe that by the end of 2013, we will be in a position to begin offering IMAX versions of Bollywood titles, which account for 90 per cent of India‘s internal annual box-office receipts.”

  • Imax in pact with Malaysia-based TGV Cinemas

    MUMBAI: Hot on the heels of expanding its theatre joint revenue sharing pact with AMC Entertainment, Imax has entered into a similar pact with Malaysia-based TGV Cinemas.
    The Malaysian exhibitor would install another seven Imax theatres in its circuit. It had launched its first super-sized screen in December last year. The latest deal brings to eight the number of screens that TGV Cinemas will jointly operate with Imax, with the first of the new order to open in Bandar Utama in fall 2012.
    Other Imax screens that will follow for TGV Cinemas would be in Johor Bahru, Penang and Kuala Lumpur.
    “With today‘s agreement, TGV will bring Imax theaters into high-growth areas further supporting our expansion efforts in this key part of Asia,” said Imax, Asia Pacific, SVP and managing director Don Savant in a statement.

  • Marc Webb ecstatic with response to The Amazing Spiderman in India

    Marc Webb ecstatic with response to The Amazing Spiderman in India

    NEW DELHI: Renowned director Marc Webb, whose latest film The Amazing Spiderman is continuing to create newer records in India, has said Spiderman ‘is a character that many Indians have grown up with and hold dear to their hearts.‘

    In a letter thanking Indian audiences for giving it the largest opening for any Hollywood film in India, Webb said, “We are honoured to be part of the continuing legacy of Spiderman in India.”

    “We hope that you will continue to offer us the same support in the weeks to come as The Amazing Spiderman continues its record-breaking run at the Indian box office,” he concluded.

    ‘The Amazing Spiderman‘, one of the few films from Hollywood that was released in India on 29 June prior to its international release on 4 July, opened with over 1000 prints which is the largest ever release for a Hollywood film in the country.

    The film was released in 3D, 2D and IMAX formats, and in four languages – English, Hindi, Tamil and Telugu.

    One of the world‘s most popular comic characters, The Amazing Spiderman tells an untold story of the Peter Parker tale. The new film stars Andrew Garfield, Emma Stone, Rhys Ifans, Denis Leary, Campbell Scott, and India‘s Irrfan Khan with Martin Sheen and Sally Field.

    The film is directed by Marc Webb from a screenplay written by James Vanderbilt, based on the Marvel Comic Book by Stan Lee and Steve Ditko. Laura Ziskin, Avi Arad, and Matt Tolmach are producing the film in association with Marvel Entertainment for Columbia Pictures.

  • The Amazing Spider-Man posts Rs 340 mn in opening weekend

    The Amazing Spider-Man posts Rs 340 mn in opening weekend

    MUMBAI: Consolidating Spider-Man‘s position as India‘s favourite superhero by far, Sony Picture‘s The Amazing Spider-Man posted the highest opening in history for a Hollywood film in India.

    According to the film‘s distributor Sony Pictures India, the film grossed approximately Rs 340 million in its three day opening weekend starting
    29 June with a final tally of 1236 prints in four languages – English, Hindi, Tamil and Telugu and in 3D, 2D and IMAX formats.

    The film also posted record-breaking highs for each day – Friday, Saturday and Sunday.

    Said Sony Pictures India MD Kercy Daruwala, “Spider-Man is the most consistently successful movie franchise in India and it‘s great to see that five years since the last movie released and with a whole new cast and storyline, the franchise is going from strength-to- strength. What‘s important to note is that a significant part of the box office has come from smaller centres as we have leveraged our strength in distributing and marketing this film across the country.”

    The film also got rave reviews with some critics calling it the best Spider-Man film yet. “Houseful boards across the country, this past weekend, have meant that many people have not had a chance to see the film yet. That, along with great reviews and word of mouth, leads us to expect to continue this performance over the weeks to come,” added Daruwala.

    A sequel, The Amazing Spider-Man 2, has already been announced for release in May 2014.

    Meanwhile, Sony Pictures has lined up a remake of the 1991 blockbuster Total Recall with Colin Farrell, Kate Beckinsale and Jessica Biel. The film releases worldwide on 3 August.