Shares of premium theater company IMAX experienced a significant surge in after-hours trading on Thursday, following a report indicating that the company is exploring a potential sale. According to a source familiar with the matter, IMAX has engaged in preliminary discussions through intermediaries regarding a possible acquisition. However, the source emphasized that no official pitches have been made by the company at this stage.
These exploratory conversations are not entirely new, as IMAX's long-standing banking partners have periodically gauzed market interest in the company. This information was shared by an individual who requested anonymity due to the confidential nature of the ongoing discussions. The initial report regarding the potential sale process was first published by The Wall Street Journal.
IMAX CEO Rich Gelfond has previously expressed openness to a potential sale. In December, Gelfond communicated to shareholders that he was amenable to such a transaction. During the company's investor day, he articulated IMAX's position as a highly valuable entity, capable of thriving as an independent, publicly traded company or as part of a larger organization that could further enhance its global business and unlock greater value.
"We're very excited about all of those possibilities. And we're going to run our business to maximize value in every possible way," Gelfond stated, underscoring a strategic focus on shareholder value regardless of the company's future structure.
IMAX has solidified its position as a leading provider of premium cinematic experiences. In the past year, the company achieved a record-breaking $1.28 billion in global box office revenue. This figure represents a substantial increase of over 40% compared to the previous year and surpasses its prior record set in 2019 by 13%.
Furthermore, the popularity of premium large format (PLF) screens continues to grow. In 2025, PLF screens constituted 16.3% of domestic ticket sales, with an average ticket price of $16.88. This marks an increase from approximately 14% of tickets sold in 2021, when the average price was $15.42, according to data from EntTelligence.
