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IMAX CEO Addresses M&A Rumors

Market speculation is that IMAX is a takeover target, but CEO Richard Gelfond on Wednesday said he currently sees "no benefit" in being bought out.

Gelfond told CNBC's Melissa Lee that he hopes the company will remain independent in another 12 months time. After all, he explained, things have been going rather well for the company lately. It's recently signed 200 theaters and will otherwise grow its network by at least 20 percent in the next year.

"Obviously, if we got an offer it's our duty to bring it to our board, but I think in terms of benefiting the company, we have a long way to go before we think about something like that," Gelfond said.

Sony has been rumored to be looking at buying the giant screen exhibitor.

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Trader disclosure: On Jan. 19, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Tim Seymour owns (AA), (BAC), (F), (FXI) and (MPEL). Guy Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE) and (BTU). Finerman owns (AAPL), (BAC), (BP), (HPQ), (GOOG), (C), (MSFT), and (WFC) preferred. Joe Terranova Owns (GLD) Puts. Joe Terranova Owns (PCX) Puts. Terranova Owns (ACI) Puts. Joe Terranova Owns (TBT) Puts. Joe Terranova Owns (UPL), (VRTS), (PVH), (GM), (CVI), (CNQ), (LTD), (C), (PEP) and (CPX). Joe Terranova Is Short (JOYG).

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