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Imax to Open Four Theaters in Shanghai With Broadway Group (EXCLUSIVE) Patrick Frater, provided by FacebookTwitterEmail Giant-screen cinema company Imax and Greater China exhibition company Broadway have struck a deal to build four additional Imax theaters in mainland China’s biggest city Shanghai. The agreement means that Imax is on course to have close to 1,000 venues in operation in mainland China. All four downtown Shanghai sites will adopt top-end laser technology. They include One East, a flagship mixed use property owned and operated by Brookfield Properties that is set to open later in 2021. More from Variety Broadway, affiliated to Bill Kong’s Hong Kong-based Edko distribution and exhibition group, now operates 436 screens in 52 complexes in China. Broadway has eight Imax theaters in some of mainland China’s top markets, including Shanghai, Shenzhen, Guangzhou, Hangzhou and Chongqing. ....
Imax Revenues Get Lift From China Moviegoing Revival, but COVID-19 Takes a Toll Brent Lang, provided by FacebookTwitterEmail Imax’s quarterly revenue beat Wall Street’s expectations even as its losses were steeper than expected. The theater company reported revenues of $56 million, a 55% drop from the prior-year quarter’s revenues of $124.3 million. It also logged a net loss attributable to common shareholders of $21.2 million, or 36 cents per diluted share. That’s down from a profit of $18.2 million or 29 cents per share in the prior-year period, a time before coronavirus upended moviegoing. Imax was projected to record a loss of 20 cents on revenue of $47.14 million. The company attributed its stronger than expected sales to the return of moviegoing in China and Japan. Movies like “Detective Chinatown 3” have done huge business in China, fueling a box office revival in the country and potentially setting the stage for positive news in an industry tha ....