Imax has held early stage talks with potential suitors of the large-screen exhibitor, Deadline has learned, confirming an initial report today in the Wall Street Journal.
The news of a possible deal comes after Imax beat Wall Street expectations on both top- and bottom-line metrics in the March quarter and with the company in the midst of a hot streak with the success of Project Hail Mary and Avatar: Fire and Ash and more. It reaffirmed it expects to deliver a record $1.4 billion in global box office revenue from its locations globally in 2026.
The process is in a very early stage and may not result in a sale. Shares of Imax jumped more than 10% in late trading to about $38 on the WSJ report. While the stock is off its 52-week high of $44, it’s made considerable gains, up from $24 last summer and the mid-teens the year before. Investors have become much more bullish on the company as premium large formats take a disproportionate share of box office.
Project Hail Mary has made almost $670 million at the worldwide box office since its mid-March release. Imax said the Amazon MGM Studios sci-fi drama starring Ryan Gosling more than doubled the exhibitor’s internal projections.
Upcoming Imax-friendly pics include Star Wars: The Mandalorian and Grogu this frame, Christopher Nolan’s The Odyssey in July and Netflix and David Fincher’s The Adventures of Cliff Booth which we learned this week will bow in Imax theaters on November 25 for two weeks before hitting the streamer.
That date was made available after Netflix moved Greta Gerwig’s Narnia: The Magician’s Nephew, to February 2027, in the largest big-screen play yet for the streamer.
Warner Bros in April was reporting that 70MM Imax shows were already selling out for the Denis Villeneuve-directed Dune: Part Three in both North America and London ahead of its December 18 bow.