IMAX to open 160 cinemas with China''s Wanda

North American entertainment giant IMAX Corp. said Tuesday it plans to open 150 new cinemas in China after reaching agreement with Chinese conglomerate Wanda Group, in its largest ever new theatre deal. The agreement brings Wanda''s commitment for IMAX cinemas in China to 360, according to an IMAX statement, in a partnership that dates back to 2007. Owned by billionaire Wang Jianlin, Wanda is seeking to shift its focus from property to services and entertainment as profits wane in China''s real estate sector.