The DCIP Deal is Done

The DCIP Deal is Done

http://www.digitalcinemareport.com/node/366

 

Submitted by Nick Dager on Wed, 10/01/2008 - 10:40

 

The Digital Cinema Implementation Partners have reached an agreement with five Hollywood studios paving the way for an aggressive roll out of technology to meet the expected demand that will be created by the growing number of 3D movies set for release next year. The announcement should greatly brighten the mood of the exhibition industry as it prepares to gather later this month in Orlando for ShowEast.

 

Pamela McClintock reported the news first in Variety. She named Disney, Lionsgate, Paramount, 20th Century Fox and Universal as the studios and said Sony was also close to signing.

 

The agreement, when finalized, will give DCIP access to a reported $1 billion line of credit to install digital technology in approximately 20,000 screens in theatres run by AMC Entertainment, Cinemark and Regal Cinemas.

 

The National Association of Theatre Owners released a statement today that read:

 

"We congratulate the major studios and exhibitors on concluding this milestone agreement in the rollout of digital cinema. Digital cinema is the future of theatrical exhibition and vital for the success of exciting new theatrical experiences like digital 3D. 
 


 

"With a deal in place for the largest U.S. theater chains, it is time to conclude a similar digital cinema agreement for the hundreds of independent cinemas and thousands of screens not covered by this agreement. It is imperative for the health of the industry and for the millions of moviegoers in small towns and cities that the benefits of digital cinema be spread as widely as possible. 
 

 

"NATO, through the Cinema Buying Group (CBG) and its selected digital cinema integrator Access Integrated Technologies, Inc. (AIX), continues to work with the studios to ensure that CBG members, who are smaller and independent exhibitors, often in small towns, are not left behind."

 

Travis Reid, head of DCIP, was not available for comment today. Other top exhibition executives declined comment pending official word that the deal was complete.

 

The news will provide a significant boost of enthusiasm to a group of people that was nervously preparing to go to ShowEast in Orlando October 13-16.

 

We will have more information in this space as it becomes available.