ODEON & UCI Cinemas Group – Funding for Digital Roll-Out

April 2, 2009

Source: Odeon

ODEON & UCI Cinemas Group announces today that it has concluded investment agreements to fund the rollout of digital cinema systems.

The capital will be provided by private investors and will enable ODEON/UCI to press ahead with its digital projector roll out, subject to satisfactory finalisation of digital cinema deployment agreements with the studio distributors.

The investment agreements provide for a total of £37m for a 3-year roll-out programme, which will commence initially in the UK as soon as the studio agreements are completed.

ODEON and UCI Cinemas Group also announces today that it will increase its initial deployment of DCI-compliant digital projectors for 3D screenings from its current 117 (for Monsters vs Aliens) to 147 in UK, Spain, Italy, Germany, Portugal and Austria (in time for the release of Ice Age 3) by July.

This increase will make the ODEON/UCI deployment of 3D screens the most extensive in Europe and will provide access to a 3D offering for over 80 per cent of its customer base. This initial deployment of digital projectors for 3D will be rolled into the main digital agreements with the studios once they are finalised.

Rupert Gavin, CEO of the ODEON & UCI Cinema Group commented, “this is a significant milestone toward enabling us to roll-out a transformation of the cinema industry”.

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