Imax signs 75-theatre deal with China's Wanda Cinema

Imax Corp, which operates a chain of big-screen movie theatres, said it has signed a 75-theatre joint revenue-sharing deal with China's Wanda Cinema Line Corp, marking the Canadian firm's largest international deal.

Imax also said it is forming Imax China to oversee the expansion of the rapidly growing Imax business in the Chinese market.

"Wanda Cinema Line is the largest theatre operator in China and is on a very aggressive build-out trajectory," Imax Chief Executive Richard Gelfond said.

The Wanda deal represents Imax's first full revenue-sharing agreement in China.

The deal would bring the total number of Imax theatres slated to be open or in backlog in Greater China to 177 over the next few years, the company said.