Glick Report
  • June 24, 2009 11:33 AM EDT by Alexis Glick

    IMAX CEO: We will be Profitable By End of Year

    Last night I went to see the premiere of Transformers at the IMAX theater in NYC. I did not see the first version in the movies so I can't compare, but I did think it was really cool. The acting is OK, but the action and special effects are great. My kids loved it! I must admit there is nothing like seeing a movie on an IMAX theater especially a big blockbuster pick.

    As I tweeted last night, Michael Bay the director of Transformers chose to shoot part of it with IMAX cameras following Chris Nolan who directed Dark Knight. Rich Gelfond, the CEO of IMAX joined me this morning to talk about how he is luring Hollywood's elite to shoot films in IMAX and why despite rumors to the contrary it doesn't cost more money.

    Gelfond talked about returning to profitability after three years of quarterly losses. He stands by his commitment to return to profitability by year end. He sees tremendous opportunities now that they have fully converted from analog to digital. He's opening two to three theaters a week. Made a huge deal in China and has some big films in the works. One movie has him really excited....AVATAR! Can't wait to see that!

about this blog

  • Alexis Glick is an anchor for FOX Business Network. Prior to joining FOX, Glick served as a correspondent for the Today Show and co-anchored the third hour of that program. Before her stint at NBC News, she was the senior trading correspondent for CNBC and reported from the floor of the New York Stock Exchange.

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