NEW YORK/ATLANTA/BIRMINGHAM -- EFA Partners, an entertainment financial advisory firm focused on providing financing solutions for movie exhibitors, announced that it led and advised the recently closed financing facility for Cobb Theatres, a progressive motion pictures exhibitor operating 210 screens at 17 locations throughout the Southeastern United States. The proceeds from the financing were utilized for Cobb's digital cinema conversion, refinancing existing debt and growth capital for future acquisitions.
"We were very impressed with EFA as their financial experience with film exhibition and digital cinema allowed them to lead our financing effort from start to finish," said Bobby Cobb, President and CEO of Cobb Theatres. "With Cobb having a tradition of innovative entertainment, our patrons will see immediate benefits from this financing as we continue our conversion to digital and, in addition, the facility provides capital for our long term growth objectives."
EFA's principals have over 20 years of collective experience in film exhibition finance and have deep relationships within the banking and leasing communities. This allowed them to procure numerous proposals for the Cobb financing and provide appropriate recommendations. In addition, the EFA team assisted with the negotiation of all credit documentation as well as agreements related to digital cinema.
CINEASIA, Hong Kong -- GDC Technology ("GDC"), a world-leading digital cinema solution provider, is pleased to announce today the signing of a digital cinema deployment contract with Wanda Cinema. The contract is a repeat order which involves GDC supplying Wanda Cinema with 280 units of SX-2000A digital cinema servers with Integrated Media Block ("IMB"), as well as 45 units of Theater Management Systems ("TMS") complete with full theater automation solution. It is expected that full deployment will be completed by first quarter of 2012.
Wanda Cinemas was established in 2005. Within just 5 years, Wanda Cinema became the top cinema chain in China. In September 2010, Wanda Cinema's box-office takings broke the 1 billion RMB mark, the first time in China. Mr. Li Yao Han, Senior Vice President of Wanda Group and President of Wanda Cinema, shall receive the prestigious ‘The Exhibitor of the Year' award on behalf of Wanda Cinema at CineAsia 2010 which is the only international convention dedicated to the Asian cinema exhibition and distribution community. This is the very first time an exhibitor from China to receive this highly-regarded international award.
"With Wanda Cinema breaking the 1 billion RMB mark in box-office takings and also winning the prestigious ‘The Exhibitor of the Year' award at CineAsia 2010, we feel really proud and excited at what we have achieved. All these can be attributed to the full dedication and commitment of our staff and our adoption of digital cinema solutions in the past 5 years," said Mr. Li Yao Han, President of Wanda Cinema. "Our rapid growth could not have been achieved without the support of GDC, a world leading digital cinema solution provider with excellent technical know-how and professional after-sales services. We have been working closely with GDC since day one and its digital cinema solutions are able to catch up with our evolving needs."
"Wanda Cinema's impeccable theater management and relentless drive to provide the best theatrical experience for its patrons explain its rapid ascend to the top in just 5 years. We would like to congratulate Wanda Cinema on winning the well deserved ‘The Exhibitor of the year' award at CineAsia 2010," said Dr Man-Nang Chong, founder and CEO of GDC Technology. "We are pleased that another CineAsia winner has selected GDC's full spectrum of digital cinema products comprising new generation of servers with IMB, theater automation and TMS systems. GDC will continue to provide Wanda Cinema with the latest and best digital cinema technology so that its patrons can continue to enjoy the fully immersive cinematic experience. I regard this as our best way to repay the goodwill of a cherished customer and we look forward to achieving more with Wanda Cinema in the future."
Andy and Lana (formerly Larry) Wachowski are prepping a modern-day take on the Robin Hood tale titled Hood. Their Matrix producer Joel Silver is producing, and they're reportedly looking at Will Smith as a potential star. Warner Bros. will house the project.
The Wachowskis are currently trying to scrape together funding for a controversial Iraq-themed drama titled CN-9. Their last project was Speed Racer, which turned out to be a critical and commercial disaster.
Cate Blanchett will reprise her role as Galadriel, the Lady of Lothlorien, in Peter Jackson's two-part adaptation of The Hobbit.
"Cate is one of my favorite actors to work with," says Jackson, "and I couldn't be more thrilled to have her reprise the role she so beautifully brought to life in the earlier film."
Principal photography begins in February, and the two films will be shot consecutively.
Blanchett will next be seen opposite Eric Banna in director Joe Wright's Hanna. That project is set to hit theaters on April 8, 2011.