Warner Bros. Entertainment Inc., Paramount Pictures Corporation, Twentieth Century Fox Film Corporation and The Walt Disney Studios will support XDC, acting as a Deploying Entity, in order to roll out and fund digital systems for theatrical presentations in several countries in Europe. Under the terms of the agreements, Warners, Paramount, Fox and Disney have independently agreed to supply European exhibitors with their feature films in digital form for projection on the digital screens, as well as temporarily contribute to the financing of XDC’s DCI-compliant digital cinema projection systems.

The agreements with Universal Pictures and Sony Pictures are in a very advanced stage and are expected to close shortly.

Veronika Kwan-Rubinek, President, International Distribution for Warner Bros. Pictures commented: “Warner Bros. has established a strong working relationship with XDC over the last few years, supplying more digital releases in Europe than any other studio. This is the first digital cinema deployment agreement for Warner Bros. Pictures International, and I’m pleased to be crossing this milestone with a company as experienced and committed as XDC.”

Andrew Cripps, President for Paramount said: “Paramount is delighted to have reached this agreement with XDC to deploy DCI-compliant digital projection systems across Europe. We look forward to working together to bring digital cinema to exhibitors and consumers alike, which we believe will help to expand and improve the experience of going to the cinema.”

Paul Hanneman and Tomas Jegeus, Co-Presidents of Twentieth Century Fox International, jointly commented: “This agreement with XDC represents another significant plan to finance and roll out DCI-compliant digital projection systems across Europe. Fox remains committed to the transition to a digital cinema platform and looks forward to supplying its movies to DCI-compliant digital projection systems installed by XDC. We are delighted to collaborate with XDC staff, which has the experience and technical expertise to manage this process.”

Anthony Marcoly, President of Sales and Distribution for Disney, stated, "Digital cinema represents the absolute best and most enjoyable way to experience motion pictures, and we're excited to be working with XDC as they expand the number of theaters capable of exhibiting films digitally. XDC's commitment to install DCI-Compliant digital cinema systems throughout Europe is great news for moviegoers, and provides Disney and the other Studios the ability to release films in the highest quality digital format possible. These XDC D-Cinema installations are also 3D-ready, which means more great 3D experiences for European moviegoers. With our latest 3D animated feature, 'Bolt,' due to arrive at the end of this year, and more than 10 other Disney 3D titles already in the pipeline, audiences are in for some amazing new entertainment in the very near future.”

Serge Plasch, Chief Executive Officer for XDC said: “We are very happy to announce these milestone agreements which offer European exhibitors a viable business model to convert their screens to digital cinema. The support of Warners, Paramount, Fox and Disney is a key factor for XDC and will allow us to keep our momentum in Europe, where XDC, along with over 120 staunch pioneer customers have shown that commercial digital cinema works.”

“Successes like this are the result of great team efforts. XDC thanks and recognizes its team members for their unflagging business, technical and legal support during the negotiations. John Birchell Hughes, our Senior Vice President, has guided us on the exciting and challenging journey that produced these four agreements. We are now working intensively on enhancing our products and services in order to offer the best solutions to our first customers who will start their deployment plans within the next 12 months," concluded Bernard Collard, Executive Vice President for XDC.

 

Read more

The Justice Dept. has moved to block a proposed merger between Regal Cinemas and Consolidated Theaters according to Variety. Both companies will need to divest their movie theater assets in three North Carolina cities before the $210 million deal can go through.

The Justice Dept. announcement read that "The transaction, as originally proposed, would substantially lessen competition among firstrun commercial movie theaters in areas of Charlotte, Raleigh and Asheville, N.C., resulting in higher ticket prices and a decreased quality viewing experience for moviegoers."

 

Read more

IMAX Corporation and Warner Bros. Pictures today announced that they have crossed the $400 million mark at the IMAX box office with films released through the partnership between the two companies. Since June 2003, Warner Bros. Pictures has released 16 titles in IMAX’s format, five of which were in IMAX® 3D, including two live action pictures that were partially converted into 3D with IMAX’s proprietary 2D to 3D conversion technology. All titles were digitally re-mastered into the image and sound quality of The IMAX Experience® using IMAX’s proprietary IMAX DMR® (Digital Re-Mastering) technology. Also included in the tally are the studio’s two original IMAX 3D co-productions.

“Our successful partnership with IMAX has helped to shape an entirely new distribution window and a completely new form of premium cinematic entertainment,” said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures. “The IMAX® theatre network has enabled us to generate incremental box office returns, and we are very enthusiastic about our upcoming film slate, which will include both original IMAX 3D programming and our tent-pole releases.”

“The IMAX release adds a layer of excitement to major titles, and with more audiences looking for something special at the movies, we anticipate continued strong box office returns from these theatres internationally,” said Veronika Kwan-Rubinek, President of International Distribution, Warner Bros. Pictures.

The studio’s Hollywood IMAX releases that contributed to the $400 million milestone and helped shape the IMAX network as a new distribution platform include The Matrix Revolutions, The Matrix Reloaded, Harry Potter and the Prisoner of Azkaban, The Polar Express (in IMAX 3D), Batman Begins, Charlie and the Chocolate Factory, Harry Potter and the Goblet of Fire, V for Vendetta, Poseidon, Superman Returns (in IMAX 3D), The Ant Bully (in IMAX 3D), Happy Feet, 300, Harry Potter and the Order of the Phoenix (in IMAX 3D), Beowulf (international ) and I Am Legend.

The 2008, 2009 and 2010 lineup for Warner Bros. Pictures and IMAX currently include Speed Racer (May 9), The Dark Night (July 18), Harry Potter and the Half Blood Prince (November 21), Under the Sea 3D (February 2009) and Hubble 3D (February 2010).

Read more

KNOXVILLE, Tenn., Apr 24, 2008 (BUSINESS WIRE) -- Regal Entertainment Group today announced fiscal first quarter 2008 results and declared a cash dividend of $0.30 per common share.

Total revenue for the first quarter ended March 27, 2008 was $626.8 million compared to total revenue of $625.0 million for the first quarter of 2007. Net loss was $3.0 million in the first quarter of 2008, which included a $33.0 million after-tax loss on debt extinguishment, compared to net income of $229.1 million in the first quarter of 2007, which benefited from a $209.0 million after-tax gain on the National CineMedia IPO transaction. Diluted earnings (loss) per share was ($0.02) for the first quarter of 2008 compared to $1.46 during the first quarter of 2007. Adjusted earnings per diluted share(1) was $0.19 for the first quarter of 2008 compared to $0.13 during the first quarter of 2007. Adjusted EBITDA(2) of $131.1 million for the first quarter of 2008 represented an Adjusted EBITDA margin of approximately 20.9%. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release.

Regal's Board of Directors also today declared a cash dividend of $0.30 per Class A and Class B common share, payable on June 24, 2008, to stockholders of record on June 16, 2008. The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors.

"Strong box office results again produced record total revenue and Adjusted EBITDA during the first quarter of 2008," stated Mike Campbell, CEO of Regal Entertainment Group. "We look forward to completing the acquisition of Consolidated Theatres and to a summer film slate featuring both proven franchise films and big-budget original content," Campbell continued.

Read more

Source: Cineplex Entertainment

Just in time for the summer blockbuster season, Cineplex Entertainment announced yesterday the elimination of online processing fees effective May 2, 2008. Guests can now purchase tickets online in advance of their arrival at the theatre knowing they have a ticket for this summer's biggest blockbusters in addition to saving the traditional $1.00 per ticket online processing fee.

"Cineplex is delighted to offer this enhanced guest service," said Pat Marshall, Vice President, Communications and Investor Relations, Cineplex Entertainment. "We continually review our operations and respond to customer feedback to identify new opportunities to expand guest service, provide added conveniences and improve the overall movie going experience."

The newly redesigned cineplex.com website is now the second most visited movie entertainment website in Canada. During the past year, cineplex.com has experienced tremendous growth with online ticketing sales up 185% in the first quarter of 2008 versus the same period in 2007 and during that same period, more than 2 million movie trailers were streamed.

 

Read more

Subscribe to Articles Feed