February 7, 2013
Following last week's announcement that big-screen movie company IMAX (NYSE: IMAX ) has signed deals to open three new theaters in Russia, 3-D technology specialist RealD (NYSE: RLD ) yesterday announced that it, too, is donning its sapogi and ushanka and heading east.
In the first of two developments, RealD says that Russia's largest regional cinema chain, Kinomax (also an IMAX client), will equip up to 100 of its screens with RealD's 3-D technology. Nine of the systems, in the cities of Rostov, Volzhskiy, and Krasnodar, are already up and running. The remainder are expected to go online by the end of this year.
In related news, another big chain -- Karo Film -- is doing an even larger deal, equipping up to 200 cinema screens with RealD 3-D tech. In a statement on the deal, Karo noted that it has already begun installations, and will soon be able to offer 3-D movies at all of its current locations.
Financial terms were not disclosed for either deal.