Disney’s Doomsday Hopes Just Got a Little a Brighter: IMAX Is Reportedly Looking for a Buyer
IMAX is reportedly exploring a potential sale, although details remain sparse. The company's share price surged 15% following speculation about the sale, indicating positive market sentiment. IMAX is primarily targeting entertainment companies as potential buyers, with Disney being a likely candidate due to its recent development of a competing format.
- ▪IMAX is not actively seeking buyers but has held preliminary talks through intermediaries.
- ▪The company's share price increased by 15% amid speculation of a sale.
- ▪IMAX generated a record $1.28 billion at the global box office last year, indicating strong performance in the market.
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If you’re in the market for about 1,700 80-foot wide projection screens, then you’re in luck. According to the Wall Street Journal, cinema technology company IMAX is exploring a potential sale that would put its unique high-resolution viewing experience under the control of new ownership.cnx.cmd.push(function(){cnx({"playerId":"92b7b46b-43ed-4e0e-b21b-2c999302d9d7","settings":{"advertising":{"macros":{"AD_UNIT":"/23178111854/od.gizmodo.com/article","CHILD_UNIT":"article","POST_ID":"2000762596","POST_TYPE":"post","CHANNEL":"tech","SECTION":"commerce","SUBSECTION":"","CATEGORIES":"commerce","TAGS":"cinematography,imax,imax-films,movie-theaters","NOP":"0"},"timeBeforeFirstAd":0}}}).render("cnx-player-main")}); Details on a potential sale are pretty sparse.
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