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06.09.2023 / 18:29

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Imax CEO Grills Goldman Sachs Analyst Over ‘Sell’ Rating On Stock – “What Do We Have To Do?”

Imax CEO Rich Gelfond turned a media conference Q&A back on the host today, grilling a Goldman Sachs analyst about the firm’s two-year ‘sell’ rating on the stock when, he said, much of the Street has a ‘buy’.

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Imax To Acquire Full Control Of China Subsidiary In $124M Deal

Imax Corp. is planning to acquire full control of its China subsidiary, the company announced Wednesday.

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Imax Spending $124 Million to Buy Full Control of China Subsidiary

Brent Lang Executive Editor Imax announced Wednesday that it plans to spend $124 million to get full ownership of Imax China. The subsidiary was listed on the Hong Kong exchange and was established in 2011 by Imax to oversee its business in Greater China, which has become a key market for the exhibition company. Imax creates wide-screen technology that enables theater owners to charge premium prices — it is also a favorite with big-budget filmmakers such as Christopher Nolan and Michael Bay, who use the company’s proprietary cameras to produce their movies. Since COVID, Hollywood films have struggled to attract the same level of business as they did pre-pandemic, but local-language titles such as “The Wandering Earth 2” and “Lost in the Stars” have been huge hits when they have screened in Imax.

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Imax CEO On China Box Office, Big Screen Boom & Company’s New Side Business

Imax chief executive Rich Gelfond said he’s never seen China let as many U.S. titles into country as early as they have this year. After a slowdown in the pace that caused some angst in Hollywood, there’s been a steady stream of releases — although not necessarily a surge in ticket sales — with The Flash, The Little Mermaid and Indiana Jones and the Dial of Destiny all cleared and upcoming and Mission: Impossible Dead Reckoning likely to be, he told the J.P. Morgan media conference today.

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‘Guardians of the Galaxy Vol. 3’ Ignites With $168 Million Internationally, $282 Million Globally

Rebecca Rubin Film and Media Reporter “Guardians of the Galaxy Vol. 3” ignited to $282 million globally, including a better-than-expected $168 million at the international box office. Heading into the weekend, Disney’s superhero tentpole was projected to collect $130 million to $140 million overseas. Thanks to positive word-of-mouth, estimates were revised up by Sunday. That’s good news because summer movie season is only going to get more competitive as “Fast X” and “The Little Mermaid” open later this month. In North America, the conclusion to Marvel’s trilogy about a band of intergalactic misfits opened to $114 million, ranking as the second-biggest domestic opening weekend of the year, behind “The Super Mario Bros. Movie” ($146 million).

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Imax Expands In Southeast Asia Via New Pacts With Galaxy Cinema & Major Cineplex – CinemaCon

EXCLUSIVE: Jumping on growth opportunities in Southeast Asia, Imax has entered into new agreements with Galaxy Cinema in Vietnam as well as Major Cineplex in Thailand and Cambodia.

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Megan Colligan Stepping Down As Imax Entertainment President

IMAX Entertainment President, Megan Colligan is stepping down per a note just dropped to staff from Imax CEO Rich Gelfond.

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Megan Colligan Steps Down As Imax President

Matt Donnelly Senior Film Writer Veteran Hollywood executive Megan Colligan is resigning her post as president of Imax Entertainment. The announcement was made Thursday in an internal memo circulated by Imax CEO Rich Gelfond. Gelfond said Colligan “decided to move on from IMAX. Megan will stay with the company through the end of April — helping see us through a busy period that includes our annual CEO Forum, CinemaCon, and our first quarter earnings report — while we complete a search for her replacement,” per the memo obtained by Variety. Colligan joined Imax in 2019. She previously served as global head of marketing and distribution at Paramount Pictures.

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‘Elvis’ Producer Gail Berman, Reddit COO Jen Wong Join Imax Board

Imax is adding two heavy hitters to its board, naming longtime entertainment executive Gail Berman and Reddit chief operating officer Jen Wong as directors.

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Rich Gelfond: Last News

Imax Q1 Revenue Drops 9%, Earnings Beat Wall Street Estimates on Lift From ‘Dune 2’

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