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06.09.2023 / 16:29

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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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Imax Adds Gail Berman and Jen Wong to Board of Directors

Rebecca Rubin Film and Media Reporter Longtime entertainment and media executives Gail Berman and Jen Wong have joined Imax’s board of directors. “As we continue to diversify and grow the Imax business across platforms and around the world, we continue to bring new expertise onto our board and both Gail and Jen have deep, proven experience across the media and entertainment landscape,” said Rich Gelfond, CEO of Imax. Berman currently serves as chair and chief executive officer of production company the Jackal Group. Wong is Reddit’s chief operating officer and has previously led digital sales and strategy at PopSugar, AOL and Time Inc.

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Box Office: ‘Creed 3’ Sets Franchise Record With Huge $58 Million Debut

Rebecca Rubin Film and Media Reporter “Creed III” emerged victorious at the box office with its impressive $58.7 million debut, setting a franchise record while dethroning two-time champ “Ant-Man and the Wasp: Quantumania.” It’s also a big win for theater owners, who are banking on the good fortunes to continue in March with upcoming releases “Scream VI,” “Shazam: Fury of the Gods” and “John Wick: Chapter 4.” Heading into the weekend, “Creed III” was projected to earn $36 million to $40 million, which already would have been enough to establish a new high-water mark. The first “Creed,” which re-launched the decades-old “Rocky” films in 2015, powered to $29.6 million, while its 2018 sequel “Creed II” opened to $35.5 million.

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Imax CEO Sees “Big Films” Back On Giant Screens Post Oscars

Imax chief executive Rich Gelfond said blockbuster titles will probably be back on Imax screens later this year, as per Top Gun: Maverick last year and, more recently, Titanic’s 25th anniversary re-release.

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Imax Predicts Return To Pre-Pandemic Box Office This Year; Sees 2022 Q4 Sales, Profit Dip

Imax said today it expects return to pre-pandemic gross box office level of $1.1 billion in 2023.

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‘Ant-Man and the Wasp: Quantumania’ Has Box Office Buzzing With $104 Million Debut

Rebecca Rubin Film and Media Reporter Disney’s “Ant-Man and the Wasp: Quantumania” buzzed to $110 million at the domestic box office, beating expectations and scoring by far the biggest opening weekend in the pint-sized Marvel trilogy. The superhero adventure, starring Paul Rudd and Evangeline Lilly as the titular Ant-Man and the Wasp, is expected to bring in $118 million or $120 million from 4,345 North American theaters by President’s Day on Monday. It’s the first $100 million domestic debut of 2023. The film added $121 million at the international box office, bringing its global tally to $225 million. “’Ant-Man’ is the first new Hollywood blockbuster out of the gate in 2023,” says Imax’s CEO Rich Gelfond, noting that $24 million came from the company’s premium-format screens.

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Imax to Double Operations in Indonesia Following Deal With Cinema XXI (EXCLUSIVE)

Patrick Frater Asia Bureau Chief Giant screen systems company Imax has struck an expanded deal with Indonesia’s leading cinema operator to instal an additional ten Imax Laser-equipped theaters. When fulfilled, the agreement will mean the doubling of the Imax and Cinema XXI footprint in the populous southeast Asian country. The first four of the new systems will be located at the Summarecon Mall in Bandung, the Icon Bali in Denpasar, the Aeon Mall in Deltamas and the Thamrin Nine complex in Jakarta. The rollout of the additional six theatres will continue into 2027.

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Facts About Rich Gelfond

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