March 10, 2010
Coming Soon: 14,000 More Digital Screens
Digital Cinema Implementation Partners (DCIP), a consortium of North America’s three largest exhibs, announced today that it has finalized funding, totalling $660 million, used to equip 14,000 screens with digital projection systems, a prerequisite for showing 3D titles. DCIP, repping AMC Entertainment, Cinemark Holdings and Regal Entertainment, raised the money through JP Morgan and Blackstone Advisory Partners, including $445 million in senior bank debt, an additional $135 million in junior capital and $80 million equity from the member circuits. Funding is meant to expediate digital conversion amid a recent logjam of 3D product and a major step forward for Hollywood and theater owners. The bank group providing financing included JPM, GE Capital, Sumitomo Mitsui Banking Corporation, Barclays Bank, Credit Suisse, Morgan Stanley, Bank of America Merrill Lynch, Deutsche Bank and Citi.
http://www.variety.com/article/VR1118016282.html?categoryId=13&cs=1
Posted in: 3D, AMC Entertainment, Bank of America Merrill Lynch, Barklays Bank, Blackstone, Cinemark holdings, Citi Bank, Credit Suisse, DCIP, Deutsche Bank, Digital Cinema Implementation Partners, GE Capital, JP Morgan, JPM, Morgan Stanley, Regal Entertainment, Sumitomo Mitsui Banking Corportation
More of Today's Headlines
Comments are closed.
FROM THE TWITTERVERSE
ABOUT FNB
FilmNewsBriefs was started in 2007 as a daily executive memo for a movie mogul, detailing the day’s most important entertainment, media and technology news. Since the newsletter’s debut, the subscriber list has grown exponentially and continues to be a ‘must read’ for influential industry insiders from film studios, top agencies, management firms and filmmakers.
FilmNewsBriefs.com re-launched in September 2009 with new re-design and functionality, becoming the destination for cutting edge entertainment, media and technology news.