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PARK RIDGE, N.J.—Mar 29, 2011

Sony Expands Financing Options for Exhibitors with New Exhibitor Managed Financing Program

Continuing to provide full-service digital cinema solutions for exhibitors of all sizes, Sony Electronics is offering a unique new program for exhibitors to participate in the 4K digital cinema conversion. 

The “Exhibitor Managed Financing Program” allows a theater to own their installed digital cinema equipment and, through participation in Sony’s Virtual Print Fee (VPF) program with major Hollywood studios, reduce their total cost of ownership as they convert to digital technology. 
 
Under this new program, exhibitors will purchase equipment and extended warranty on the projector from Sony directly, with Sony managing the back-end VPF billing and collection process on their behalf.  Exhibitors will also enter into a long-term services agreement with Sony for equipment maintenance. 
 
“Sony is committed to making our 4K Digital Cinema equipment available to exhibitors of all sizes,” said Pat Leon, Senior Manager, Business Development.  This new Exhibitor Managed Financing Program fills a gap in the market.  It enables small exhibitors who, for strategic or financial reasons, wish to own the equipment outright to give their customers the Sony 4K experience while simultaneously benefitting from the lower total cost of ownership that a VPF program affords.” 
 
The program includes Sony’s 4K Projector, a central storage server, a Theater Management System, and 10-year equipment warranty as well as transportation, installation, and regularly scheduled maintenance of the projector.  As usage fees are paid on the projector, Sony will bill and collect those usage fees on behalf of the exhibitor and retain a percentage of the total usage fees as compensation for Sony’s administrative services.  
 
To support this model, Sony has arranged non-exclusive relationships with financiers, including GE Capital, to help exhibitors who are interested in exploring new financing options. However, exhibitors are under no obligation to use GE Capital. Exhibitors who have existing relationships with preferred financing partners are able to maintain those while still participating in this program.
 
NOTE: Exhibitors have the right to seek financing from any source, including GE Capital, and are under no obligation to use GE Capital. It is recommended that prior to entering into any financing, an exhibitor should determine, without reliance on GE Capital, its affiliates, or any financing source, the economic risks and merits, as well as the legal, tax and accounting characterizations and consequences of any financing and independently determine whether such financing is appropriate for its needs. The reference to GE Capital in these program materials is not, nor should it be deemed as, a promise or guaranty that any such financing would be forthcoming; such decision being solely and exclusively that of such financing source, in the exercise of its independent discretion.
About Sony Digital Cinema:
Sony Digital Cinema combines a full range of Sony technologies, alternative content offerings, training and service to provide a broad range of solutions for exhibitors. The world’s leading manufacturer of commercially available 4K resolution digital cinema projection systems, the group also offers Sony’s TMS (theatre management system); digital signage hardware, software and content development; security systems and Network Operations Centre (NOC) services for the exhibition community. 
Sony Digital Cinema Directory page Sony Digital Cinema Web Site
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