Mississauga based IMAX has struck a deal to more than double the number of its large screens in Europe.
AMC, which owns Odeon and other brands, plans to create 25 new IMAX theatres over the next three years in England, Germany, Italy, Spain and Scandinavia.
IMAX chief executive, Rich Gelfond, says one of the frustrating things for the company has been the inability to properly penetrate Europe, but that will change with the expansion.
AMC and IMAX expect to jointly spend about $25 million on the expansion and will share the revenues. AMC is making the investment five months after taking over Odeon and a month after its acquisition of Nordic Cinemas.