ZON Lusomundo Cinemas to Open Portugal’s First IMAX Theatres

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Wed, 07/27/2011 - 20:00 -- Nick Dager

IMAX Corporation and ZON Lusomundo Cinemas have announced a joint revenue sharing agreement to install three new digital IMAX theatre systems in Portugal. The deal marks the first IMAX theatres to open in Portugal. Under the terms of the agreement the systems will be installed in existing theatres in different parts of the country with the first expected to open by the end of the year. All three locations are expected to open before the end of 2012. We have been impressed by the growth and success of IMAX in Europe and we are thrilled to be bringing the premium state-of-the-art IMAX Experience to our customers in Portugal says Luis Mota general manager of ZON Lusomundo Cinemas. ZON Lusomundo Cinemas is the preeminent exhibitor in Portugal with numerous assets and its finger on the pulse of European filmed entertainment says IMAX CEO Richard L. Gelfond. ZON Lusomundo's marketing assets make it an extremely attractive partner for the IMAX brand which has a strong foundation in Western European markets. Over the past 12 months our growth strategy has included seeding important markets like Spain Italy Germany – and now Portugal. Our partnership with ZON Lusomundo is strategic – not just as a partner for our first entry into Portugal - but supporting our broader growth strategy in Europe which is a key expansion market for us. Our joint revenue sharing model has proven to be successful in Europe and we look forward to building on this segment of our business in one of our most important growth markets says Larry T. O'Reilly IMAX's executive vice president theatre development. We are pleased to partner with ZON Lusomundo to introduce IMAX to audiences in Portugal. IMAX Corporation www.imax.com ZON Lusomundo Cinemas www.zon.pt