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Non-Tech : IMAX 3D-the wave of the future -- Ignore unavailable to you. Want to Upgrade?

To: SurfForWealth who wrote (138)	9/8/1999 2:05:00 AM
From: Helmut	Read Replies (1) \| Respond to of 170

Some news to liven this thread. HK Yahoo! News Entertainment Headlines Tuesday September 7 5:49 PM ET Imax extends digital capacity with British purchase (All figures in U.S. dollars unless otherwise indicated) By Amran Abocar TORONTO (Reuters) - Big-screen cinema company Imax Corp. (Nasdaq:IMAX - news) extended its digital reach Tuesday with the purchase of Britishelectronic design firm Digital Projection International Plc. Shares in Toronto-based Imax rose following the news, climbing nearly 10 percent on the Toronto Stock Exchange before slipping back. Imax shares closed at C$32, up C$1.50, in light volume. The stock has traded in a 52-week range of C$51 to C$22.70. On New York's Nasdaq, Imax shares gained $1 to trade at $21-5/8. Manchester-based Digital Projection develops and manufactures electronic displays for large venues, live events and casinos, as well as electronic billboards. The British firm is the holding company of digital design firms of the same name in Britain and the U.S. state of Georgia. Imax did not disclose the terms of the acquisition, which makes Digital Projection a wholly owned subsidiary, but said it would not have a material impact on earnings in 1999 or 2000. Industry sources said the deal is worth $25 million to $30 million. In a statement, Imax said the purchase would allow it to break into the $4.6 billion electronic display market, with shared research and joint product development. The 32-year-old company, which builds large-format movie theaters that offer mainly educational fare, has branched into financing more mainstream content for its screens, notably last year's ''T-Rex: Back to the Cretaceous'' and ''Everest.'' It is eager to tap into Hollywood's endless supply of motion pictures. The drawback, however, is that feature films must be made digitally for Imax to be able to reformat them for its big screens. ''Imax Corporation's roots are in technology, and we have always strived to be at the leading edge of entertainment technology ... we believe DPI's systems are the most advanced in the digital image delivery industry,'' Imax co-Chief Executive Brad Wechsler said in a statement. In August, Imax posted lower second-quarter earnings of $2.2 million, compared with $6.1-million for the same period last year. The company blamed the drop on a decline in ''theater systems deliveries.'' Imax, which has 195 theaters in 25 countries, has seen construction slow down on a number of new theaters recently, reducing revenues. The company has a backlog of over 80 theaters scheduled to open in 15 countries over the next few years. Reuters/Variety