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Imax gets deal to install 5 theaters in Mexico

NEW YORK (AP) -- Imax Corp. said Monday that it agreed with movie theater company Cinepolis to install five Imax theatres in existing multiplexes across Mexico.

Financial terms were not disclosed.

Cinepolis, which is privately held and is based in Morelia, Mexico, currently has seven Imax theatres open in Mexico and one open in Brazil. It said the new theaters will allow it to offer its customers new movie experiences and charge a premium.

Imax said the deal expands its presence in high-growth Mexican markets. Imax has headquarters in New York, Toronto and Los Angeles.