IMAX to open 75 more theaters in China

BEIJING (AP) — IMAX Corp. announced plans Thursday to open 75 more theaters in China within four years in partnership with Wanda Cinemas, the country's largest theater operator, underscoring the Chinese movie industry's rapid expansion.

IMAX, known for its large format film technology, has 45 theaters open in greater China. Based on the industry's fast growth, it expects to have 300 theaters operating in the country by 2016, which could involve partnerships with operators other than Wanda.

There was no disclosure of the monetary value of the expansion plans and profit-sharing deal signed in Beijing.

CEO Richard Gelfond said China is the company's fastest growing market, …