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IMAX Corporation (NYSE: IMAX) stands as a premier global technology platform for entertainment and events. Renowned for its immersive cinematic experiences, IMAX combines proprietary software, specialized auditorium architecture, and patented technology to deliver unparalleled visual and sound quality. The company's innovative approach enables it to be a leader in multiple facets: as a technology innovator, a Hollywood collaborator, and a global enterprise.
IMAX partners with top filmmakers and studios to enhance blockbuster movies and documentaries, ensuring that every film shown in its theaters offers a unique, awe-inspiring experience. The company's state-of-the-art systems are operational in over 1,772 theaters across 90 countries, making it a dominant force in the global cinema landscape.
Recent achievements highlight the company's robust performance and innovation. For instance, IMAX recorded a stellar 22% of the global box office for 'Dune: Part Two' in its second weekend, marking the biggest global weekend market share in the company's history. Furthermore, IMAX has expanded its footprint by partnering with Major Cineplex in Thailand and Miraj Cinemas in India, adding numerous state-of-the-art IMAX with Laser systems.
Financially, IMAX remains solid with significant liquidity and a strategic share-repurchase program aimed at enhancing shareholder value. As of March 31, 2024, the company reported available liquidity of $367.0 million and continues to invest in technology and global expansion.
IMAX's commitment to innovation extends beyond just films. It is also a pioneer in live events, gaming, and virtual reality experiences. Additionally, the company maintains a strong presence on social media and regularly engages with its audience through platforms like Instagram, Facebook, LinkedIn, X (formerly Twitter), and YouTube.
Headquartered in New York, Toronto, and Los Angeles, IMAX also operates offices in London, Dublin, Tokyo, and Shanghai. The company continues to drive forward with plans for further global expansion and technological advancements, solidifying its position as a leader in the entertainment industry.
IMAX Corporation (NYSE: IMAX) is set to hold a quarterly conference call on October 31, 2022, at 4:30 p.m. Eastern Time to discuss its third-quarter 2022 financial results. The call will be accessible via webcast and telephone, with a pre-registration process in place for dial-in participants. As of June 30, 2022, IMAX operates 1,694 theater systems globally. The upcoming call is anticipated to provide insights into the company’s performance and future outlook.
IMAX Corporation has announced a significant nine-theatre deal with Wanda Film, China's largest exhibitor, marking the installation of six new IMAX systems in key markets. This agreement is the first of its kind since February 2021, highlighting a renewed momentum in the Chinese market. Additional upgrades will be made to three existing IMAX systems. The partnership, which spans over a decade, now includes locations in major cities such as Shanghai and Shenzhen, further solidifying IMAX's position in the global box office landscape.
IMAX Corporation and Xperi, Inc. announced an expansion of the IMAX Enhanced movie collection via Rakuten TV. This collaboration will introduce 100 IMAX Enhanced titles across eight European countries over the next six months. The service will enhance viewing experiences by offering exclusive expanded aspect ratios and IMAX signature sound. The partnership aims to meet the growing demand for premium cinematic experiences among consumers.
IMAX Corporation has acquired SSIMWAVE Inc. for $18.5 million in cash and $2.5 million in stock, with an additional potential $4 million earnout. This acquisition aims to enhance IMAX's video quality capabilities, particularly for streaming services. SSIMWAVE's Emmy-winning technology improves video quality across platforms, benefiting major clients like Disney and Paramount. IMAX expects the acquisition to contribute positively to revenue in 2023 and emphasizes the strategic importance of advancing its entertainment technology leadership.
IMAX Corporation has appointed Michele Golden as its Global Chief People Officer, effective September 13, 2022. Golden, with over 20 years of experience in human resources at major media companies, will lead IMAX's human resources, recruiting, talent management, and diversity initiatives. Previously, she served as Chief HR Officer for HBO Max at WarnerMedia. IMAX aims to strengthen its global teams and culture as it seeks growth in entertainment technology under the leadership of Golden, who will report to CEO Rich Gelfond.
IMAX Corporation announced a $200 million increase in its share-repurchase program, raising the total repurchase authority to $400 million. Since the program's inception on July 1, 2017, approximately 10.0 million shares have been repurchased for an aggregate price of $175.0 million, achieving a 15% reduction in shares outstanding. The repurchase authorization allows for $225.0 million in future purchases until June 30, 2023. IMAX has received an exemption from the Ontario Securities Commission to facilitate these repurchases under specific conditions.
IMAX Corporation has appointed Jennifer Horsley as the new Senior Vice President of Investor Relations. With over 20 years of experience, primarily from her tenure at Xerox and her recent role at Taboola, Horsley will spearhead IMAX's investor relations strategy. Reporting to Natasha Fernandes, the CFO, she aims to strengthen IMAX's presence in the investment community. The company seeks to leverage its unique business model and a strong film slate to drive growth.
IMAX Corporation (NYSE: IMAX) announced its participation in two upcoming conferences. The first is the Bank of America 2022 Media, Communications & Entertainment Conference on September 7, 2022, featuring CFO Natasha Fernandes. The second event is the Goldman Sachs Communacopia + Technology Conference on September 14, 2022, with CEO Rich Gelfond. Both events will be webcast live on the IMAX investor relations website, enhancing accessibility for stakeholders.
IMAX Corporation (NYSE: IMAX) and Stage Access have announced two film experiences featuring Grammy-winning soprano Renée Fleming. Cities That Sing - Paris will premiere on September 18, 2022, followed by Cities That Sing - Venice on October 30, 2022, in select IMAX theaters worldwide. Both films capture iconic performances and cultural explorations, showcasing renowned opera locations through IMAX's immersive technology. Tickets for the Paris premiere will be available starting August 30, while Venice ticket sales will be announced later.
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