Cineplex Entertainment and Empire Theatres Limited jointly announce the formation of Canadian Digital Cinema Partnership (“CDCP”) – to plan and implement the deployment of digital projection equipment in the two partner’s theatres. The plan will include procuring equipment, arranging financing and securing digital deployment agreements with studios and other content providers.
Cineplex Entertainment and Empire Theatres Limited have appointed Blackstone Advisory Partners L.P. (“Blackstone”) as their financial and structuring advisor for CDCP. Blackstone will assist CDCP with the evaluation and development of a financing plan to convert its more than 1,600 35mm projectors to digital projection systems. The Bank of Nova Scotia will act as Lead Arranger for CDCP’s financing.
Digital Cinema Implementation Partners, LLC (“DCIP”) has agreed in principle to provide administrative services and system support to CDCP in connection with its digital deployment in Canada. DCIP has itself deployed more than 7,000 digital projection systems to theatres in the United States and Canada during the past year.
CDCP is also pleased to announce that it has entered into long-term digital deployment agreements with three studios including Twentieth Century Fox and Warner Brothers Entertainment for CDCP’s deployment of digital projection systems. CDCP continues its discussions with other major US and Canadian distributors with additional announcements expected soon.