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Why they don't remaster the LOTR films for IMAX is beyond me...I've thoroughly enjoyed seeing both IMAX DMR releases of Matrix Reloaded and Revolutions.
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Because the platters that hold IMAX films are not large enough to hold the film without an intermission. Even the IMAX print of Star Wars:AOTC had cuts made to the film itself to widdle it down to fit on an IMAX platter. The theater I work in got the upgraded reel units when we played Fantasia2000 (at IMAX expense I believe), and I highly doubt they want to be doing free reel unit upgrades anytime soon to make the platters any larger (if it's even physically possible to make them larger without risking damage to equipment).