Arts
Alliance Media Enters German Digital Cinema Market with Cinestar, Germany’s
No. 1 Exhibitor
December
1, 2011
Source: Arts Alliance Media Arts
Alliance Media (AAM) has announced a digital cinema deal with CineStar, Germany’s
leading exhibitor, to be the chain’s exclusive digital cinema provider, covering
the rollout of digital cinema to participating CineStar sites operated across
the country by entities associated with the Greater Union group. Greater Union
is owned by Australian public company, Amalgamated Holdings Limited (AHL).
The deal is being financed by AHL and has built in flexibility
to convert up to 450 screens over a two year period. Under AAM’s Virtual
Print Fee (VPF) agreements, AHL will see the majority of the initial cost recouped
by payments from distributors who use the digital systems. AAM will administer
the VPF agreements with distributors will also provide its theatre and library
management systems to participating Cinestar sites. David
Seargeant, Chief Executive Officer of AHL, said “Digital is so important
for the future of the cinema business. After a long search for solutions for the
German cinema market we believe Arts Alliance Media is best placed to assist CineStar
in the conversion of selected cinema sites to full digital over the coming years.”
“We are excited to be working with AAM on
our conversion to digital,” commented Oliver Fock of the CineStar Group.
“Leveraging AAM’s deals with the Hollywood Studios, we will now jointly
approach local distributors in Germany to work with us in this transition.”
Howard Kiedaisch, Chief
Executive Officer of Arts Alliance Media, said “We’re thrilled to be
entering the German market with CineStar. They’re the most successful and
innovative exhibitor in Germany and we look forward to a long and exciting partnership
with them.” “Being selected by
CineStar is another vote of confidence in our VPF model and our service capability
and we’re excited to be able to offer the same to other exhibitors throughout
Europe,” added Fiona Deans, AAM Chief Operating Officer. The
deal with CineStar is Arts Alliance Media’s first foray into the German digital
cinema market, and adds to the company’s roster of leading exhibitors in
multiple territories throughout Europe.
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