Source: Bloomberg.com

Disney, Sony Pictures and Warner Bros. are reportedly in talks with In Demand, Comcast Corp. and Time Warner Cable, Inc. to develop a $30 home-viewing option that will allow costumers to view new releases soon after they've been released theatrically. Disney is also exploring the possibility of working with Xbox and Playstation 3 to stream entertainment.

Studios have been struggling to compensate for mediocre DVD/Blu-ray sales, and this move is yet another reaction to that loss of income.

Disney is expected to gauge consumer interest in the new option during the first quarter with one film that is to be determined. 

 

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maggiegrace.pngSource: Deadline.com

Maggie Grace will appear as a threatening vampire named Irina in The Twilight Saga: Breaking Dawn. The young actress is best known for playing Liam Neeson's daughter in Taken, 20th Century Fox's $220 million+ worldwide hit.

Breaking Dawn will be released in two parts. The first part is scheduled for November 18, 2011 and the second will hit theaters almost a year later on November 16, 2012.

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New York, NY -- Screenvision, a leading innovator in cinema advertising, and Shamrock Capital Growth Fund II, a leading private equity fund focused solely on media, entertainment and communications investing, announced today the signing of a definitive purchase agreement with UK-based ITV Plc (LSE:ITV) and Technicolor (Euronext Paris: 18453; NYSE: TCH) for a majority stake in Screenvision.

"We have known and have followed the Screenvision story for many years and have always been impressed with its expansive network of over 150 theatrical partners and inventive advertising solutions it offers to its over 4,000 advertising partners," said Stephen Royer, Managing Director of Shamrock. "Screenvision is a compelling advertising buy given its captive audience reach, over 15,000 screens throughout the U.S., and its expansive sales offerings. We are thrilled to be partnering with the current management of Screenvision to build from here."

As part of the transaction, current owner ITV will sell the entirety of its 50% stake to Shamrock while the other owner, Technicolor, will retain a minority shareholding and will continue to be Screenvision's provider of film and digital services, with the film processing and distribution agreement extending through end of life.

"We have been an owner of Screenvision for over ten years and have built this company into what it is today - a leading advertising provider to the cinema industry," said Frederic Rose, Chief Executive Officer of Technicolor. "From a commercial perspective, it made sense for us to keep a minority shareholding and to continue our partnership by providing film and digital services to Screenvision."

"We have always maintained our view that Screenvision is a strong business with great potential, but as we publicly stated, Screenvision was a non-core holdings of ITV and therefore, we are certain it is in great hands with its new owners," stated Adam Crozier, ITV's Group Chief Executive.

Additionally, as part of the transaction, Screenvision has entered into an amended exhibitor agreement with Carmike Cinemas, Inc (NASDAQ: CKEC), one of the largest motion picture exhibitors in the U.S. Carmike will also become a minority shareholder in Screenvision as part of its exclusive agreement with Screenvision.

"We have been a partner of Screenvision for over twenty years and we plan to be a partner for many more," said David Passman, Chief Executive Office of Carmike. "Screenvision has proven to us that it is the preferred solution to partner with because of its independent approach to the cinema industry as well as the creative advertising solutions offered by its excellent sales-force."

"Carmike is a technological innovator in the exhibition community and our partnership has only become stronger with this agreement," said Darryl Schaffer, Executive Vice President - Exhibitor Relations at Screenvision. "This partnership validates Screenvision's ability to support its exhibitor partners with leading-edge cinema advertising solutions."

 

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COLUMBUS, Ga. -- Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3D motion picture exhibitor, today announced the modification of a long-term, exclusive exhibition agreement with Screenvision, a leading innovator in cinema advertising. The modified agreement extends Carmike's existing relationship with Screenvision for a 30-year term. In addition to its regular periodic payments throughout the term of the agreement, Carmike will receive a cash payment of $30 million in January, 2011. Carmike will also receive an approximately 20% ownership interest in the growth of Screenvision.

"We have been a business partner of Screenvision for over twenty years and we plan to be a partner for many more," said David Passman, President & Chief Executive Officer of Carmike. "Adding an ownership interest to our already excellent business relationship is an exciting opportunity for Carmike's shareholders to benefit in the growth of Screenvision. In addition, although still in its early stages, we expect alternative content to play an increasingly important role in further enhancing capacity utilization of entertainment complexes, and with its growing digital footprint and extensive distribution network, we believe Screenvision continues to be the right partner for Carmike."

"Carmike is a technological innovator in the exhibition industry and our partnership has only become stronger with this agreement," said Darryl Schaffer, Executive Vice President - Exhibitor Relations at Screenvision.

The extended exhibition agreement is effective upon closing of Carmike's acquisition of the ownership interest in Screenvision, which is expected to be in October 2010.

 

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