Sony and Disney In Talks To Buy Out IMAX [RUMOR]

Posted Jan 3, 2011

Sony Corporation (NYSE:SNE) and The Walt Disney Company (NYSE:DIS) are both rumored to be making an offer to buy out IMAX Corporation (NASDAQ:IMAX) at over $40 per share. Port Bibb, a managing partner at MediaTech Capital Partners LLC told Business News Network that ?I can confirm that both Sony and Disney are in serious talks with IMAX about a takeover, probably at $40 per share or more.? IMAX has about 400 commercial movie screens and is looking at 1,200 other locations. IMAX has put themselves up for sale and had surpassed analyst expectations in third quarter profits. IMAX is based in Toronto, Canada. [BNN]