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A potential sale of IMAX is under consideration, with entertainment companies contacted as prospective acquirers, The Wall Street Journal reported.
Any transaction remains far from certain, with the Journal characterizing the effort as still in its earliest phases. No official pitches have been made, a source told CNBC, describing the activity so far as only "preliminary talks" conducted through go-betweens. The source, speaking anonymously given the sensitivity of the matter, added that gauging outside interest is something the company's bankers do from time to time.
Shares rose about 10% in Thursday after-hours trading once the news broke. The company did not provide a statement when contacted by Reuters.
CEO Rich Gelfond signaled openness to a sale at the company's investor day in December. "We're very excited about all of those possibilities. And we're going to run our business to maximize value in every possible way," he said, according to CNBC. Rich Gelfond recently returned to work after taking medical leave to receive treatment for pneumonia.
