China’s Wanda Cinema Line Corp. and IMAX Corp. have signed a deal to open 80 new IMAX theaters in China, making it the big-screen company’s largest market, the Wall Street Journal reported Tuesday. Wanda, a unit of real estate conglomerate Dalian Wanda Group Co. and China’s largest movie theater chain by outlets, plans to open the theaters by 2021, rolling out 20 each year starting in 2016, IMAX chief executive Richard Gelfond was quoted as saying. The company did not give details about the investment. In July, the two companies announced plans to launch 40 new theaters together with an option to increase the number to 120. The other 80 were contingent on IMAX’s performance in the market and its technology. Wanda operates 82 IMAX screens, the report said.
– Contact HKEJ at [email protected]