IMAX said to be exploring a sale, rising over 10% after hours

According to insider sources cited by The Wall Street Journal, the globally renowned giant-screen movie system company IMAX is exploring a sale and has contacted several entertainment companies as potential buyers. The process is still in its early stages, and it is uncertain whether a deal will ultimately be reached.

CNBC subsequently cited a source familiar with the company stating, IMAX has initiated preliminary discussions with potential buyers through intermediaries but has not yet officially launched a formal acquisition presentation.

Following the news release, IMAX stock prices surged by more than 10% in after-hours trading.

IMAX's exploration of a sale comes at a time when the high-end cinema market is significantly picking up. Data from Box Office Mojo shows that domestic U.S. movie box office revenues have neared $2.9 billion so far this year, setting a record for the highest level in the same period since the pandemic.

In the meantime, premium large screens are continuously expanding their share of the box office. Data from EntTelligence indicates that, as of early April, the proportion of high-end screens, including IMAX, in North American box office revenues has risen to 16%, higher than the 13% of the same period in 2021.

The company's own market share has also increased significantly. Company data shows that its share of domestic U.S. box office revenues in 2025 has reached 5.2%, a notable increase from 3.2% in 2019, demonstrating a structural advantage that outperforms the overall industry recovery.

For potential buyers, the value of IMAX lies not only in the company itself but even more so in the scarce network it has built as a premium exhibition channel. It effectively connects studios, theaters, and audiences, especially when blockbuster films are packaged as "events that must be seen on the big screen," making IMAX an important gateway in box office distribution.

The issue is that, if a Hollywood company were to acquire IMAX, other studios might worry that scheduling resources and marketing focus would tilt towards the acquirer. This concern has already shown signs in Netflix's recent moves. The company announced that its new film, starring Brad Pitt and directed by David Fincher, will premiere exclusively on IMAX screens for two weeks in November; next February, its other high-profile remake, "The Chronicles of Narnia: The Magician's Nephew," will also hit IMAX and other theaters seven weeks ahead of its general release.