IMAX Corp. (IMAX - Analyst Report) recently announced that it will be screening all movies of the Harry Potter series for the first time in Los Angeles as part of a week-long event. The event will begin on Oct 13 and has been organized as part of the promotion of the upcoming Warner Bros. Pictures movie to be released by IMAX – Fantastic Beasts and Where to Find Them. The fantasy movie is scheduled to be released on Nov 18.
Moreover, IMAX will be hosting a global fan event on Oct 13 to promote its new release. At this event, fans will be able to enjoy an unseen reel from Fantastic Beasts and Where to Find Them at select IMAX theatres across the world. Additionally, stars of the new movie are expected to make an appearance at two IMAX locations in London and LA for live Q&A as well as other events.
Reasons for Screening Harry Potter Movies
The Harry Potter franchisee has been one of most profitable movie series for IMAX to date, with the company making around $216 million globally from the movies. For the week-long event, the movies will be screened in IMAX 2D along with special content from the Fantastic Beasts and Where to Find Them movie. The screenings will also feature reel from the global fan event alongside specially recorded greeting from the movie’s actors like Eddie Redmayne and others.
Notably, this is the first time that the first two installments of the Harry Potter series will be digitally re-mastered into immersive IMAX format along with being released at IMAX theatres. Tickets for the event are already available online and at IMAX theatres participating in the event.
Zacks Rank and Stocks to Consider
IMAX currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the broader media segment include radio broadcasting company, Cumulus Media, Inc. (CMLS - Snapshot Report) , radio-broadcasting company which has posted an earnings surprise in three of the last four quarters, Sirius XM Holdings (SIRI - Analyst Report) ) fpr which the Zacks Consensus Estimate stands at 14 cents for the current fiscal year and television broadcasting and digital media company, Media General Inc. (MEG - Snapshot Report) which saw a 1 cent improvement in the Zacks Consensus Estimate over the past 30 days to 34 cents . All companies hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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