(IMAX-Q 30.6 3.74 13.92%) at more than $40 US a share.
The UK ’s Daily Mail was first to report on the possible acquisition. But Porter Bibb, Managing Partner at MediaTech Capital Partners LLC, tells BNN Sony and IMAX are in talks.
“I can confirm that both Sony and Disney are in serious talks with IMAX about a takeover, probably at $40 per share or more,” Bibb told BNN in an email.
IMAX, which put itself up for sale in the past, posted a third-quarter profit that blew past analyst expectations and forecast rapid expansion of its theatre network, especially in emerging markets such as China .
IMAX has about 400 commercial movie screens and is eyeing 1,200 other potential locations, said Brett Harriss, an analyst with Gabelli & Co.
"IMAX has done a fantastic job over the last five years becoming a powerhouse," he said. "IMAX has an advantage over others. It's a premium product. If you are going to get out the house you may as well spend an extra 5 bucks to see an IMAX (movie)."
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