IMAX Corporation (IMAX) announced that it has inked an international deal with Twentieth Century Fox covering four of the latter’s films. Subsequent to the deal, four upcoming films under Fox’s production banner will be released in the immersive IMAX format in certain international markets.
We note that Twentieth Century Fox is a unit of Twenty-First Century Fox (FOX).
The deal, which aims to strengthen the growing alliance between the two companies, entails release rights for Penguins of Madagascar, Exodus: Gods and Kings, Night at the Museum: Secret of the Tomb and Taken 3.
While DreamWorks Animation SKG’s (DWA) Penguins of Madagascar will hit theaters across the globe on Nov 26, the Biblical epic Exodus is slated to release on Dec 4. Night at the Museum: Secret of the Tomb and Taken 3 will hit IMAX screens on Dec 17 and Jan 8, respectively.
Each of the above films will be re-mastered digitally into the image and sound quality characteristic to the IMAX Experience, using the proprietary IMAX DMR (Digital Re-mastering) technology. This technology allows IMAX to convert conventional motion pictures into a unique entertainment environment by combining crystal-clear images with IMAX's tailor-made theatre geometry and robust digital audio techniques.
IMAX, one of the leading players in the field of entertainment technology, was in the news recently when it announced the biggest-ever screening of the Christopher Nolan movie – Interstellar (read more: IMAX's Interstellar Release to Break Screening Records). Moreover, the company also performed impressively in the third quarter of 2014, reporting higher-than-expected revenues as well as earnings numbers.
Zacks Rank
IMAX currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the sector is World Wrestling Entertainment (WWE) with a Zacks Rank #2 (Buy).
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