Imax to Open 75 New Theaters in China.

LOS ANGELES -- Imax has reached a deal valued at about $100 million to open 75 new theaters in China, a move that underscores the degree to which the movie exhibition business is surging there. Imax, the large-format film company, said late Wednesday that it would team with China's largest theater operator, Wanda Cinema Line Corporation, to build the theaters by 2014. Imax currently has 45 theaters open in China, with an additional 57 in the works. The company expects to have 300 theaters operating in China by 2016. [ABSTRACT FROM PUBLISHER]