Imax teams up with Chinese cinema group
March 31, 2011 | BY
clpstaff &clp articlesPRC movie theatre company, Wanda Cinema Line (Wanda Cinema) has entered into a 75-theatre joint revenue sharing agreement with Imax Corporation. The deal…
PRC movie theatre company, Wanda Cinema Line (Wanda Cinema) has entered into a 75-theatre joint revenue sharing agreement with Imax Corporation. The deal results in Imax's first full revenue sharing agreement in China.
Additionally, Imax announced the formation of Imax China, a wholly-owned subsidiary of Imax. The new company will oversee the expansion and growth of Imax's business in the Chinese marketplace. Wanda Cinema is a wholly-owned subsidiary of Dalian Wanda Group, which is the largest theatre operator in the PRC.
A China-based Paul Weiss Rifkind Wharton & Garrison team, led by Hong Kong partner Jeannette Chan, counsel Corinna Yu and Beijing consultant Xu Qi, acted for Imax. Tian Yuan Law Firm served as PRC adviser to Wanda Cinema.
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