IMAX Acquisition Furthers Plans to Provide In-Home Movies

Before you go, we thought you'd like these...
Before you go close icon

Following the rollout six months ago of its Private Theater initiative, an ambitious plan to provide customers with an in-home, immersive theater experience, IMAX announced today it has entered into an agreement in which it has "acquired a stake and a significant option position" with PRIMA Cinema.

The agreement also includes a seat on PRIMA Cinema's board, IMAX said, and includes exclusive rights to resell PRIMA Cinema's products and services in China for five-years.

Utilizing its proprietary technology, PRIMA Cinema allows customers to watch newly released, feature length Hollywood movies from the comfort of their own homes. IMAX intends to integrate its proprietary digital remastering process to enhance the quality of PRIMA Cinema-delivered movies. IMAX said it is also exploring ways in which to integrate PRIMA Cinema's technologies into other IMAX platforms.

Commenting on the agreement with PRIMA Cinema, IMAX CEO Richard Gelfond said, "Today's agreement with PRIMA Cinema enhances our ability to deliver a premium, end-to-end in-home entertainment experience, combining the best of IMAX's immersive image and sound technology with the delivery of current theatrical titles."

Financial terms of the agreement were not disclosed.


The article IMAX Acquisition Furthers Plans to Provide In-Home Movies originally appeared on

Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool recommends Imax. The Motley Fool owns shares of Imax. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading