According to the press release, IMAX will be included in a number of so-called tentpole releases, like “The Man from U.N.C.L.E.,” “In the Heart of the Sea,” “Batman v. Superman: Dawn of Justice” and others. The deal also includes future LEGO movies.
“The LEGO Movie” grossed a startling $257.8 million in the United States last year and another $211 million worldwide. The sequel to that film currently has a release date of May 26, 2017, according to Box Office Mojo.
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An IMAX executive said:
With this multi-picture deal, IMAX and Warner Bros. continue a lengthy and substantial partnership, which is invested in bringing the highest-quality entertainment to the most awe-inspiring cinematic experience. But at its core, this deal enriches and broadens IMAX’s relationship with key filmmakers, who have always been a top priority for Warner Bros. in bringing the most compelling cinema to audiences around the world.
Not to be out-gusted, a Warner Bros. executive said:
IMAX provides an immersive moviegoing experience that is unparalleled. We have an exciting and extremely diverse slate and look forward to giving audiences the opportunity to see a variety of films on the largest possible canvas.
IMAX stock has gained 27% over the past 12 months and traded up about 1.1% in the early afternoon on Monday to $36.38, within pennies of the top of its 52-week range of $24.01 to $36.50. The consensus price target on the shares is about $38.50.
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