LOS ANGELES, April 26, 2010 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced that industry veteran Mark Zoradi will begin working for the Company as a non-executive strategic advisor effective April 12, 2010. Based in Los Angeles, Mr. Zoradi will be available to advise on key issues in all areas of the Company, including film acquisition, distribution and marketing, as well as studio and exhibitor relationships.
Mr. Zoradi is a 30-year veteran of the motion picture industry. Prior to joining IMAX, Zoradi served as President, Walt Disney Motion Pictures Group. During his nearly three decades at Disney, Zoradi worked in the television, home entertainment and film divisions and most recently served as president of the studio's motion picture group, overseeing worldwide marketing and distribution. Zoradi started his Disney career as marketing coordinator for Walt Disney Home Video in 1980 at ground zero of the home entertainment boom. He next became marketing director for the Disney Channel, which was also in its infancy at the time. He segued into domestic theatrical distribution as director of sales for Buena Vista Pictures Distribution in the mid-80s and also held the position of senior vice president and general manager of Buena Vista Television from 1987-1992. Earlier this month, Zoradi joined the Board of Directors of newly formed Rave Cinemas, LLC, now the United States' fifth largest theater exhibition chain.
"The IMAX network continues to expand around the globe, and Mark's industry insight and expertise will no doubt help us further establish ourselves as a critical distribution platform for event titles," said IMAX CEO Richard L. Gelfond. "We welcome Mark to IMAX at an exciting time for the Company and believe his enthusiasm for the organization is a real testament to the opportunities ahead."
Greg Foster, Chairman and President of IMAX Filmed Entertainment added, "Mark and I have worked closely together as the relationship between IMAX and Disney developed and expanded. I am confident that Mark's knowledge and experience working with a thriving global entertainment company, combined with his unique understanding and approach, will be a big asset to IMAX, and I look forward to officially welcoming him to the IMAX family."
"IMAX is an incredible brand with a distinct and important position in the overall distribution strategy of nearly every major studio," Mr. Zoradi added. "I look forward to this exciting opportunity, and to being a member of the IMAX team as the Company continues to deliver The IMAX Experience® to more audiences around the world."
Zoradi holds an MBA in Marketing and Finance from UCLA's Graduate School of Management and a BA in Economics and Sociology from Westmont College. He is a member of the following organizations: Board of Trustees at Westmont College; Board of Directors of Providence St. Joseph Medical Center and Los Angeles Regional Young Life. In November of last year, Zoradi received the Louis B. Mayer motion picture business leader of the year award from his alma mater, the UCLA Anderson School of Management.
About IMAX Corporation
IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX® 3D, and IMAX DMR® technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience®. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of December 31, 2009, there were 430 IMAX theatres (309 commercial, 121 institutional) operating in 48 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience® and The IMAX Experience® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (http://www.youtube.com/imaxmovies">www.youtube.com/imaxmovies).
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This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.