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IMAX Signs Four-Movie Deal with Dreamworks Animation

Posted on Thursday, November 15th, 2007 10:31 AM by Scott Jentsch

Poster for Kung Fu PandaIMAX and Dreamworks Animation have struck a deal which will bring four Dreamworks movies to the big screens of IMAX theaters, and three of those will be in 3D.

Back in March, Dreamworks Animation announced that it would be producing all its movies in 3D starting in 2009, so "Kung Fu Panda" will be its only 2D IMAX picture. The IMAX 3D releases that are part of this deal are "Monsters vs. Aliens" in March 2009, "How to Train Your Dragon" in November 2009, and "Shrek Goes Fourth" in May 2010. According to the press release (below), the 3D titles also will be simultaneously released to conventional digital 3D theaters, so they will not be exclusive to IMAX.

Press Release

IMAX signs four picture deal with Dreamworks Animation

Pictures Include First Three 3D Productions, Beginning with Monsters vs. Aliens in March 2009

LOS ANGELES, CA, Nov. 14 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and DreamWorks Animation SKG, Inc. (NYSE:DWA) today announced an agreement to release the studio's first three 3D motion pictures worldwide in IMAX(R) 3D. The IMAX 3D releases will include Monsters vs. Aliens in March 2009, How to Train Your Dragon in November 2009 and Shrek Goes Forth in May 2010. A fourth DreamWorks Animation title, Kung Fu Panda, will be released in IMAX's 2D format in June 2008. The IMAX 3D titles are expected to be among the first presented with IMAX's digital 3D projection system, which is scheduled to be launched beginning June 2008. This is IMAX's first multiple 3D picture deal with a Hollywood studio. The 3D titles also will be simultaneously released to conventional digital 3D theatres. Paramount Pictures will be the exclusive distributor of the pictures.

"3D cinema has an opportunity to revolutionize the way people experience movies," said Jeffrey Katzenberg, CEO of DreamWorks Animation. "We believe the immersive quality of IMAX will provide our audiences with a unique way to experience our films and we are delighted to include IMAX as a key part of our 3D strategy."

"DreamWorks Animation envisions 3D as the future of CGI animation, and we are excited to help them implement their approach to delivering outstanding content in the years ahead," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "Further, we are so pleased that the timing of the roll-out of our digital projection technology can take advantage of DreamWorks Animation's 3D content - content that will look, sound and feel amazing when it is presented in IMAX."

"DreamWorks Animation's creative spirit is well suited for IMAX 3D and we are delighted to be collaborating with their talented team to bring moviegoers a premium 3D cinematic experience," added Greg Foster, Chairman and President of IMAX Filmed Entertainment. "DreamWorks Animation consistently produces and markets films that appeal to adults and kids alike and these films will certainly play an important role in maintaining a well-rounded IMAX film slate over the next several years."

All four films will be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R) with IMAX DMR(R) (Digital Re-mastering) technology.

About DreamWorks Animation

DreamWorks Animation SKG (NYSE-DWA) is devoted to producing high-quality family entertainment through the use of computer-generated (CG) animation. Utilizing world-class creative talent and state-of-the-art technological capabilities, the company is committed to making two computer-animated feature films a year that appeal to a broad movie-going audience. The Company has theatrically released a total of fifteen animated feature films, including Antz, Shrek, Shrek 2, Shark Tale, Madagascar, Wallace & Gromit: The Curse of the Were-Rabbit, Over the Hedge, Flushed Away, Shrek the Third and Bee Movie. Please visit www.dreamworksanimation.com to learn more about DreamWorks Animation.

About IMAX Corporation

IMAX Corporation is one of the world's leading digital entertainment and technology companies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX(R) theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital remastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience. IMAX's renowned projectors and new digital systems display crystal-clear images on the world's biggest screens. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2007, there were 296 IMAX theatres operating in 40 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) MPX(R), and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com.

This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's financial reporting and accounting, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, the performance of films, the viability of new businesses and products, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format and general commercial exhibition market. These factors and other risks and uncertainties are discussed in the Company's Annual Report on Form 10-K/A for the year ended December 31, 2006, as well as the Company's Quarterly Reports on Form 10-Q/A.

Source: IMAX Corporation



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