economy
IMAX has held ‘preliminary talks’ with potential buyers, source says
IMAX has held "preliminary talks" through intermediaries, but no official pitches have been made directly by the company, a source told CNBC.
TL;DR
- IMAX shares rose significantly after reports of potential sale discussions.
- The company has engaged in 'preliminary talks' through intermediaries.
- No official pitches have been made directly by IMAX.
- CEO Rich Gelfond has previously expressed openness to a potential sale.
- IMAX achieved record global box office revenue of $1.28 billion last year.
- Premium large format (PLF) screens continue to grow in popularity and ticket revenue.
- The Wall Street Journal first reported on the potential sale process.