3D TV an opportunity, not threat, says Imax CEO

By March 11, 2010Newswires

3D TV an opportunity, not threat, says Imax CEO
by Susan Taylor

OTTAWA (Reuters) – The advent of 3D television does not threaten the future of big-screen Imax movies in the theater, but it does present an opportunity, the chief executive of Imax Corp (IMX.TO: Quote) said on Thursday.

"We provide a unique, high-end, out-of-home entertainment experience that people will want to see … even if it`s available in the home," said CEO Richard Gelfond in an interview with Reuters.

"I don`t really think 3D in the home is going to negatively impact us. On the other hand … we entered into a letter of intent with Sony (6758.T: Quote) and Discovery (DISCA.O: Quote) to create the first 3D in home cable TV network."

Discovery Communications, whose TV brands include Discovery Channel, TLC and Animal Planet, said in January that it plans to launch a dedicated network with Imax and Sony in the United States beginning in 2011.

Toronto-based Imax, which reported better than expected quarterly results on Thursday and forecast a strong year ahead, said it is still negotiating a final agreement with Sony and Discovery and could issue an update in a month.

Read the whole story here: http://ca.reuters.com/article/businessN … 8S20100311

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