IMAX is incorporating more and more entertainment only fare to their distribution slate. Not only are the results good for their bottom line but also for adding even more "event" to already special films.
Tagged With: Imax
IMAX Corporation has announced that it will be bringing large format theaters to South America. Four IMAX theatres will open, to be located in Chile and Ecuador. "IMAX's entry into South America with these four new theatres is an exciting moment for our company and is really only the beginning for us in a market that we believe can support many more IMAX theatres in many countries," said Richard L. Gelfond and Bradley J. Wechsler, co-CEOs and co-chairmen, IMAX Corporation.
How will Jar Jar look when he is 8 stories tall? This question will be answered on November 1, 2002, when a large-format version of STAR WARS: EPISODE II "ATTACK OF THE CLONES" debuts in IMAX theatres in the United States and Canada. The film will be digitally re-mastered using the proprietary IMAX DMR (Digital Re-mastering) technology, which allows live-action motion pictures to be inexpensively converted into the 15/70 format for presentation on the giant IMAX screen, while maintaining and even enhancing the conventional image resolution.
IMAX Corporation has announced that Steve Oedekerk's original animated film, SANTA VS. THE SNOWMAN, will be reformatted into IMAX 3D and anchor a special IMAX holiday film program launching in November 2002. Produced by Oedekerk's O Entertainment, animated by DNA productions with additional footage being animated by Omation, a division of O Entertainment, the film features the voices of Oedekerk, Emmy Award-winning comic Jonathan Winters, Ben Stein and Victoria Jackson. SANTA VS.
IMAX announced the appointment of Francis (Frank) T. Joyce as chief financial officer effective May 14, 2001. Joyce will report to IMAX co-CEOs and co-chairmen Richard L. Gelfond and Bradley J. Wechsler. Joyce comes to IMAX from theglobe.com where he was vice president, CFO and treasurer. He has more than 20 years of experience in finance, primarily in the advertising, film, publishing and Internet industries, and has worked for a number of large multi-national companies including CBS, Paramount Pictures, Ted Bates Worldwide and KPMG.
In a May 11, 2001 announcement, entertainment technology company IMAX Corporation reported its results for the first quarter ended March 31, 2001. The company reported a loss of $0.23 per share for the first quarter before the impact of a previously announced restructuring charge. After the impact of the restructuring charge, IMAX reported a loss of $0.46 per share. The company's comparative results for the first quarter of 2000 were: earnings of $0.06 per share before the cumulative effect of changes in accounting principles and a loss of $1.92 per share after such changes.
IMAX Corporation appointed veteran motion picture production and marketing executive Greg Foster to the newly created position of president, Filmed Entertainment, on Tuesday, March 27. Foster will work out of the company's Santa Monica, California office, and be responsible for overseeing all aspects of the company's filmed entertainment activities including creative development, production and business affairs. He will also have a hands-on role in the marketing and distribution of the large-format motion pictures produced under the IMAX banner.
Imax Corp. has announced that due to a corporate restructuring it will lay off 130 of its 1,000 employees. The restructuring comes as a result of several theater-chains' recent bankruptcies, which has lowered the demand for large screen films. The company will consolidate its sound and projection systems manufacturing at its facilities in Mississauga, Ontario and will scale down film production at its studio in Birmingham, Alabama. Imax will take a first quarter 2001 loss as a result of restructuring costs.
With Fantasia/2000, Imax looked to be a great hope for animation, now Karl Cohen investigates why this immediate future looks shaky.
On Monday, November 20, 2000, DreamWorks announced it would release its US$186.6 million summer blockbuster GLADIATOR on Imax screens. The film will hit theaters in Los Angeles, New York, Chicago, Atlanta, San Francisco, Toronto and other major cities on Wednesday, November 22, one day after it hits video stores on VHS and DVD. The flick will be shown in its original 35mm format. No details on the financial terms of the deal between Imax and DreamWorks were released. When Disney's FANTASIA/2000 played on the giant screens in January, the two companies split the proceeds 50/50.
Imax has canceled plans to release DreamWorks' 3D feature SHREK on 150 giant screens. Apparently, increased costs associated with creative changes at DreamWorks have led to Imax abandoning the project. Last month, Imax's stock dropped 70% after the company reported an earnings loss warning for the quarter. This project originally looked like a promising financial boost for Imax (and the distribution of animation) after their big success with the release of FANTASIA/2000. SHREK is scheduled to arrive in regular theaters on May 18, 2001.
Cyberworld 3D is Imax's next foray into animation. Eric Lurio reports that while the story might not be there, the eye candy makes it all worthwhile.
On Thursday, July 13, 2000, Imax Corporation announced that the company has brought in financial advisors Goldman, Sachs & Co. and Wasserstein, Perella & Co. to help maximize revenues for the company, which could include the sale or merger of the company. Imax co-CEOs Richard L. Gelfond and Bradley J. Wechsler said, "Imax has made tremendous strides in the last few years on several strategic initiatives including establishing the IMAX theatre network as a release window for Hollywood films and securing a role in the digital future of entertainment.
Imax Corp. has struck a deal that will bring DreamWorks and PDIs newest 3D animated feature SHREK to the giant screen. Opening December 2001, six months after its initial theatrical release, the ogre odyssey will arrive in Imaxs 150 digital 3D theatres. Imax will foot the US$10 million bill to transfer the two-dimensional cartoon to eye-popping 3D. SHREK follows the misadventures of an annoyed ogre and his new frustratingly friendly fairy-tale neighbors.
Imax has inked a deal with Fox, DreamWorks and Sony Pictures to deliver to
audiences 3D versions of THE SIMPSONS, Princess Bala from ANTZ and several
original animated characters. The Imax feature will be entitled CYBERWORLD
and will hit U.S. theatres in October. Produced by Hugh Murray and Steve
Hoban, the 45-minute pic will feature 3D clips from ANTZ and THE SIMPSONS
interwoven with Phig, the tour guide of this futuristic animation museum.
The advanced ticket sales for
Disney's IMAX release of FANTASIA/2000 have already seen strong numbers. In
Reuters Magazine, Brian Weisfeld, senior vice president of operations for
Toronto-based IMAX Corp., said advanced ticket sales were as high as
$80,000 in some IMAX-operated theaters versus a more normal $4,000. IMAX,
the owner and franchiser of more than 180 IMAX theaters worldwide, hopes
that FANTASIA/2000 will attract other major films to their eight story
Toronto, Canada-based IMAX CORPORATION, which operates a chain of largeformat film theaters, has appointed MARY PAT RYAN to the new post ofExecutive Vice President of IMAX Ltd. and Network Group President. Ryanwill oversee the ongoing development of the Network Group, which is chargedwith ensuring the success of all theatres in the worldwide network of IMAXtheatres and the development of the IMAX brand. Based in New York, Ryanwill have responsibility for all areas of the Network Group including brand
Alexander Petrov, a Russian master animator whose best known films are THE MERMAID
and THE TRAGEDY OF A RIDICULOUS MAN, has completed a new film, THE OLD MAN
AND THE SEA, based on the novel by Ernest Hemingway about an old man's
struggle to catch a fish. Two years in the making, the film is now playing
at IMAX Theaters throughout the world and features Petrov's renowned
paint-on-glass technique for which he is world famous. For more information
IMAX Corporation, owner of the large format film theater chain, hasannounced the closing of its strategic investment in Vancouver,Canada-based Mainframe Entertainment Inc., a producer of CGI animation.Under the terms of the agreement, IMAX invested CDN$8 million to acquire a19% equity stake in Mainframe and CDN$8 million to acquire convertiblesenior debt which, if converted, could bring IMAX's ownership up to 30% ofMainframe. Simultaneously, Mainframe announced that two leading Canadian
Imax Corp. has agreed to make a strategic investment in Vancouver-based Mainframe Entertainment, producers of the 3D computer-animated REBOOT and BEAST WARS. The company will invest CAN$16 million (U.S.$10.6 million) into Mainframe to acquire an equity and convertible senior debt, giving Imax an approximate 30% stake in the company. As part of the deal, Imax and Mainframe will co-produce 3D animated films for release in IMAX theaters and other markets. Their first collaboration, GULLIVER'S TRAVELS, is expected to be released to IMAX theaters by summer 2001.
Animation World Magazine takes a jaunt into the innovative and remarkable: IMAX invents a new technology that allows animators to animate in thin air!
Vancouver, Canada-based Mainframe Entertainment will produce two feature-length, stereoscopic, 3D computer-animated films for IMAX large-format cinemas. The announcement comes exactly two years after the two companies announced a production deal [AF 8/21/96] to produce two 3D CG-animated ride-films based on Mainframes TV series, ReBoot. The first one, ReBoot, the Ride opened in IMAX ride theaters last year and the second, Journey Into Chaos will open next month.