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Blog Coverage Regal Entertainment Signs 11-Theater Deal with IMAX

LONDON, UK / ACCESSWIRE / January 9, 2017 / Active Wall St. blog coverage looks at the headline from IMAX Corp. (NYSE: IMAX) and Regal Entertainment Group (NYSE: RGC) ("Regal") announced on January 06, 2017, an expansion of the existing joint venture which includes a revenue sharing agreement. The agreement includes the installation of 11 additional IMAX theatres in the US, bringing the net tally of IMAX theatres under Regal to 100. The agreement on an expansion note offers an additional two years of operation for the existing joint venture theatres and adjusted financial formula for all Regal IMAX joint venture locations. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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About the Companies

IMAX Corporation is an entertainment technology firm which excels in motion picture technologies and large-format motion-picture presentations. The firm boasts of a presence of more than 1,000 IMAX theatres across 66 countries. IMAX delivers one of the primary cinematic presentations through its proprietary, IMAX, IMAX® 3D, and IMAX DMR® technology.

Regal Entertainment Group operates one of the most diversified theatre circuits in the US. With more than 7,360 screens across 570 theatres in 42 states, the Company is in possession of a major chunk of the entertainment market. Regal operates the theatre circuits through its subsidiaries and brands which are: Regal Cinemas, United Artists, Edwards, Great Escape Theatres, and Hollywood Theatres brands.

The Extended Agreement

Regal and IMAX have been collaborating for nearly 20 years as of now. Regal views this agreement as an extension of the strategic value IMAX delivers to the Company and the driving force behind the extension of the length of agreements for all the IMAX sites under Regal. IMAX stated that the deal is a continued commitment of Regal and the extension of all leases under the current joint venture would be accretive to the growth of both entities.

IMAX development spree

IMAX has been aiming at enhancing its pan-nation presence recently. Through its subsidiary, IMAX China Holding, Inc., it announced an agreement on December 01, 2016, with Shanghai Film Corporation (SFC) and SFC-Bailian Cinema Management Co., Ltd. (SFC-Bailian) for three new IMAX® theatres in China.

On October 19, 2016, IMAX and Warner Bros. Pictures announced a multi-picture worldwide agreement which included up to 12 new films for the firm's upcoming spree as an extension of the partnership midst the two firms. IMAX has aimed at adapting new technologies and collaborating with leaders across segments of entertainment and technology. IMAX is also set to launch its first pilot IMAX VR centers in Los Angeles and at ODEON & UCI Cinemas Group's Printworks location in Manchester, England.

The Technical Portfolio

IMAX is also strengthening its technical arsenal to perform well in the highly competitive market. On November 10, 2016, IMAX Corp. and IMAX China Holding, Inc. announced that they have collaboratively executed the first phase of a $50 million virtual reality fund midst the IMAX and other strategic investors. This collaboration would assist in the financing and creation of 25 interactive VR content experiences over the next three years.

Stock Performance

Last Friday, the stock showed no alteration from its previous closing price of $32.05. A total volume of 453.41 thousand shares have exchanged hands. IMAX's stock price advanced 2.56% in the last month, 9.61% in the past three months, and 10.44% in the previous six months. Furthermore, on a year to date basis, the stock gained 2.07%. Shares of the company have a PE ratio of 53.06 and a net market capital of $2.15 billion.

Regal Entertainment's share price finished last Friday's trading session at $21.76, slipping 2.64%. A total volume of 1.14 million shares exchanged hands. The stock has advanced 1.83% and 29.03% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 5.63%. The stock is trading at a PE ratio of 19.89 and has a dividend yield of 4.04%. The net market capital for the firm stood at $3.42 billion.

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SOURCE: Active Wall St.