Imax Is the Hottest Brand in Movies. Why Is It for Sale?
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- Imax posted $1.2 billion in ticket sales in 2025, a record despite the overall box office being down 30% versus pre‑COVID.
- Imax aims for $1.4 billion in 2026, counting on tentpole releases such as Christopher Nolan’s “The Odyssey” and Denis Villeneuve’s “Dune: Part Three,” shot with its proprietary cameras.
- Imax is in early talks about a sale, according to the Wall Street Journal, after CEO Richard Gelfond hinted at a possible deal at a December investor meeting.
- Imax shares rose to about $40 after the sale speculation, up from the $20‑range they hovered in for most of 2025.
- Eric Wold (Texas Capital Securities) says Imax’s valuation lags its post‑pandemic revenue gains and that a sale could let it accelerate growth and later return to public markets at a higher multiple.
Why it matters: Investors see a premium as Imax’s $40 share price reflects a valuation gap, while a sale would give the company capital to expand globally and leverage blockbuster releases for higher revenue.
