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Digital cinema to be installed across entire circuit during current fiscal year
The transition from 35mm film projection, which has been used for 110 years, to digital projection systems is a standardized world-wide motion picture industry effort. The costs to deploy this new technology will be covered primarily through the payment of virtual print fees (VPF) from studios to implementation companies.
Under the terms of the agreement,
"Marcus Theatres is proud to continue its long history of technological
innovation and quality by entering into this agreement with Cinedigm to
enable the conversion of our circuit to digital cinema and assure that
our guests can experience the pristine visual presentations digital
cinema offers. The advantages for our guests will be brighter and better
focused images and a consistently clear and steady picture with truer,
more vibrant colors, whether they see a motion picture on its first
showing or in its last week of exhibition," said
"Marcus Theatres has been very diligent in evaluating their digital
cinema options, and we're thrilled we were able to create a customized
solution that works for them," said
"The installation of this new digital technology will give us the
flexibility to schedule not just major
Olson said additional providers of digital cinema technology and services will be announced shortly.
About
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Cinedigm is a leader in providing the services, experience, technology
and content critical to transforming movie theatres into digital and
networked entertainment centers. The Company partners with
Certain matters discussed in this press release are "forward-looking
statements" intended to qualify for the safe harbors from liability
established by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements may generally be identified as such
because the context of such statements include words such as we
"believe," "anticipate," "expect" or words of similar import. Similarly,
statements that describe our future plans, objectives or goals are also
forward-looking statements. Such forward-looking statements are subject
to certain risks and uncertainties which may cause results to differ
materially from those expected, including, but not limited to, the
following: (1) the availability, in terms of both quantity and audience
appeal, of motion pictures for our theatre division, as well as other
industry dynamics such as the maintenance of a suitable window between
the date such motion pictures are released in theatres and the date they
are released to other distribution channels; (2) the effects of
increasing depreciation expenses, reduced operating profits during major
property renovations, and preopening and start-up costs due to the
capital intensive nature of our businesses; (3) the effects of adverse
economic conditions in our markets, particularly with respect to our
hotels and resorts division; (4) the effects of adverse weather
conditions, particularly during the winter in the Midwest and in our
other markets; (5) the effects on our occupancy and room rates from the
relative industry supply of available rooms at comparable lodging
facilities in our markets; (6) the effects of competitive conditions in
our markets; (7) our ability to identify properties to acquire, develop
and/or manage and continuing availability of funds for such development;
and (8) the adverse impact on business and consumer spending on travel,
leisure and entertainment resulting from terrorist attacks in
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