IMAX sells $18 million worth of shares

posted by fullerkim on May 7, 2008 at 7:44 am

IMAX has centralized a larger portion of its ownership with this new deal.

IMAX Corp. has announced that the Douglas family, its largest shareholder, is adding to its stake by buying 2.7 million shares for $18 million in a private placement. As a result of the move, the Douglas family now owns 19.9 percent of the company.

In addition, IMAX also said Wachovia Capital Finance Corp. has agreed to expand and ease the terms of its credit facility.

These transactions will help fund the roll-out of the IMAX digital projection system.

Full press release at: Digital Cinema Info

Comments (10)

KenLayton
KenLayton on May 7, 2008 at 10:42 am

I thought IMAX has always been about the big FILM experience not the big tv experience.

moviebuff82
moviebuff82 on May 7, 2008 at 11:49 am

That’s what it’s all about. IMAX put the big back in big screen and still is the largest film format most people know. On occasion, an IMAX film will pop up on Mojo HD, even though it’s shown cropped to fit the tv screen rather than the tall screen, but the surround sound is still 5.1 even though it’s compressed to dolby digital for home theater use.

Al Alvarez
Al Alvarez on May 7, 2008 at 7:36 pm

It’s amazing that with all that sight and sound they still manage to crank out some of the most mind numbingly stupid documentaries in recorded history.

moviebuff82
moviebuff82 on May 7, 2008 at 7:55 pm

not to mention stupid movies coming out like speed racer and once in awhile a good blockbuster movie like the new dark knight movie!!!

KramSacul
KramSacul on May 9, 2008 at 3:51 am

4-6k digital projection = big tv experience? :-D

I wish we’d see real films in IMAX instead of blowups.

longislandmovies
longislandmovies on May 10, 2008 at 6:10 pm

2K OR 4 K-WOW NOTHING IS BETTER………TIMES CHANGE THIS FOR THE BETTER!

moviebuff82
moviebuff82 on May 11, 2008 at 12:13 pm

yup. Maybe Imax should tinker with wider aspect ratios rather than the circular and regular format, try to be like Cinerama.

Giles
Giles on May 15, 2008 at 7:20 am

yeah more movies should be shot in 2.55:1, bring back Cinemascope!

Jason Whyte
Jason Whyte on May 21, 2008 at 11:30 pm

Just how the HELL are they going to make digital projection watchable on that large of a screen? I even find 2k digital projection to be lousy on a medium size cinema screen!

Giles
Giles on May 22, 2008 at 6:25 am

DLP hasn’t released the specs for it’s IMAX Digital system, but it would have to exceed 4K at least. Early talks involved Sony and their LCoS systems, two in fact to increase the resolution up to 8K – how DLP accomplishes this, I have no idea.

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