JP Morgan raises financing to pay for rollout of digital cinema

February 12, 2010

Source: JP Morgan-Chase

Lifting a roadblock to the rollout of 3-D in theaters, investment firm JP Morgan has raised nearly $700 million to finance the digital conversion of thousands of screens around the country, three people familiar with the matter said Friday.

The funding, delayed for longer than a year due to the credit crunch, would pay for the installation of digital projectors for about 12,000 screens, easing a bottleneck caused by an abundance of 3-D movies competing for not enough screens. There are currently only about 3,500 digital 3-D screens in the country.

Read the full story on the LA Times website.

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