Published Date:
26 July 2008
RUMOUR OF THE DAY
NEWS Corp's Twentieth Century Fox has reached a deal with a group of movie theatre chains, paving the way for a $1.1 billion (£550 million) digital cinema upgrade, sources last night suggested.
Hollywood is hopeful the upgrade will boost attendance and cut costs. Fox is believed to be the first of six studios engaged in year-long talks with the Digital Cinema Implementation Partners (DCIP), formed by Regal Entertainment Group, Cinemark Holdings and AMC Entertainment to reach a deal to help finance the upgrades. Travis Reid, the chief executive of DCIP, confirmed a studio had reached a deal, but declined to release a name.
Michael Lewis, the chief executive of RealD, a provider of 3D systems, said: "When the DCIP deal drops, then digital cinema is really on its way."
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Last Updated:
26 July 2008 12:44 AM
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Source:
The Scotsman
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Location:
Edinburgh
