Entertainment firm Imax plans 9 theatres by 2010January 6th, 2009 - 7:10 pm ICT by IANS
Kolkata, Jan 6 (IANS) Entertainment technology firm Imax Corp will open five more theatres in India, in addition to the present four, by 2010, a top company official said here Tuesday. “The theatres are coming up in Gurgaon, two each in Chennai and Bangalore. For the Chennai and Bangalore theatres we have tied up with Sathyam Cinemas. The Kolkata and the Gurgaon ones are developed by Aeren-R,” John M. Schreiner, director of the Imax Corporation told reporters on the sidelines of the launching of its first screen in the city.
There are three Imax theatres operational in Hyderabad, Ahmedabad and Mumbai, with the fourth, in Kolkata, being built on an investment of Rs.180 million (Rs.18 crore).
Maintaining that entertainment is a “recession-proof business”, Schreiner said: “History shows during such periods, people go more for movies because this is a cheap way of getting entertained.”
Headquartered jointly in New York City and Toronto, Imax theatres are present in 40 countries. Around 60 percent of the theatres are located in North America and the remaining are spread across the world.
So much so, Schreiner said, that his company is not ruling out foraying into the movie production business. “We might look into movie production after we reach 10 screens in India,” he said.
Realty firm Aeren-R Enterprises is looking at co-branding IMAX theatres in India to shore up revenues at a time of economic downturn, company director Jim Patterson added.
Aeren-R is looking at brands such as Airtel, Vodafone, Panasonic, Samsung, Nestle and Unilever for collaboration in cross-promotion and screen advertisements, Patterson said.
- Sathyam Cinema gets Gen Next multiplex - Sep 01, 2009
- Demand for nutrition food to grow in India: Nestle - Feb 06, 2012
- Choice the buzzword, as consumers pampered like never before (2010 in Retrospect) - Dec 25, 2010
- Chinese firm closes acquisition of US movie theatre chain - Sep 05, 2012
- RIM to launch 15 BlackBerry premium stores by year-end - May 11, 2012
- Milk oblations, dancing, singing - 'Endhiran' fever catches Chennai - Oct 01, 2010
- Puravankara takes Bangalore for Louis Philippe golf - Nov 09, 2011
- Holiday Inn Express hotel to come up in MahindraWorld City - Jun 14, 2011
- Panasonic India to relaunch Sanyo brand - Sep 10, 2010
- Panasonic India targets Rs.3,000 crore turnover - Dec 22, 2010
- Enthiran gets 'U' certificate - Sep 16, 2010
- Newly Revised 'Avatar' To Be Released This Summer - Mar 15, 2010
- Yahoo! expands language base with launch of Bengali service - Feb 08, 2012
- Samsung targets $100 mn revenue from B2B segment - Feb 05, 2011
- Samsung unveils high definition 3D TVs - Aug 04, 2010