IMAX to License Two IMAX® 3D Films for Exclusive Bundling With Samsung 3D Televisions
IMAX Continues Business Growth Initiatives in Television and Content Licensing
NEW YORK and RIDGEFIELD PARK, N.J., Aug. 11, 2010 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and Samsung Electronics America, Inc. today announced a strategic marketing partnership under which IMAX will license limited use of its trademark and two IMAX® 3D films from its renowned original 3D film library, Into the Deep and Galapagos. The 3D Blu-ray versions of the films are exclusive for the next 12 months to Samsung's 2010 3D starter kit, which also includes 2 pairs of 3D glasses and is free to people who buy a Samsung 3D TV and a Samsung 3D Blu-ray device. The starter kit will be available starting this fall.
The agreement is consistent with IMAX's stated intent to expand its business through strategic growth initiatives that capitalize on its brand and content, and to partner with leading companies that can deliver new and exciting in-home 3D entertainment. The IMAX brand will be featured on packaging of Samsung products and displayed as part of the promotion of the products in retail stores around the world.
For Samsung, the agreement is part of the company's ongoing commitment to provide consumers with compelling new Blu-ray 3D content that, when shown on its latest line-up of 3D-capable HDTVs, delivers outstanding 3D entertainment in the home.
"Samsung is developing excellent television products that offer a powerful 3D experience for consumers in their living and family rooms," said Richard Gelfond, CEO of IMAX. "IMAX remains focused on partnering with the best companies in the world to help us further extend our brand, establish our presence in the home and capitalize on our premium content, and we believe Samsung will be an strong strategic marketing partner in these efforts."
"3D has raised the bar for immersive entertainment, and we believe adoption of 3D will increase as people have more appealing content choices," said John Revie, senior vice president of Home Entertainment, Samsung Electronics America, Inc. "As the market leader in 3D and HDTV, Samsung is proud to lead the way into the next dimension of premium home entertainment and collaborate with IMAX to deliver richer content to the home."
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), a wholly owned subsidiary of Samsung Electronics Co., Ltd., markets a broad range of award-winning, digital consumer electronics and home appliance products, including HDTVs, home theater systems, MP3 players, digital imaging products, refrigerators and washing machines. A recognized innovation leader in consumer electronics design and technology, Samsung is the HDTV market leader in the U.S. Please visit www.samsung.com for more information.
For more information about Samsung, including press releases, video content and product images, please visit: http://www.samsung.com/newsroom.
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 June 30, 2010, there were 447 IMAX theatres (325 commercial, 122 institutional) operating in 47 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).
The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469
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, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the opportunities that may be presented to and pursued by the Company, the performance of IMAX DMR films, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes and developments in the commercial exhibition industry, the failure to convert theatre system backlog into revenue, new business initiatives, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and ongoing inquiries by the SEC and the OSC. 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.