RealD Signs Deal with Chinese Theater ChainMonday, August 29, 2011
RealD Inc. has signed a deal with Chinese theater chain Beijing SAGA Luxury Cinema Management Co. Ltd. to install its 3-D movie projection technology in all the chain’s theaters.
The Beverly Hills developer of 3-D movie projection technology on Monday said the agreement includes 100 auditoriums across China. In addition, SAGA of Beijing plans to open 20 theaters within three years that would include RealD technology. Financial terms of the deal were not announced.
“China is a cinema market presenting a growing opportunity to introduce audiences to RealD’s premium 3-D entertainment experience,” Edman Chan, RealD’s General Manager of Greater China, Southeast Asia and Korea for Cinema, said in a statement.
As of the end of June, RealD had its technology available for roughly 17,500 theater screens in about 60 countries.
Shares were up 6 cents, or less than 1 percent, to $14.77 in midday trading on the New York Stock Exchange.