Burbank, CA and Morristown, NJ—Sep 15, 2005
The Walt Disney Studios' Distribution Arm Buena Vista Pictures Distribution Commits Content to Christie/AIX Deployment of DCI-Compliant Digital Projection Systems
The Walt Disney Studios' distribution arm Buena Vista Pictures Distribution (BVPD)
and Access Integrated Technologies, Inc. ("AccessIT") (AMEX: AIX) Christie/AIX
unit have entered into a groundbreaking non-exclusive agreement to supply
feature films from Walt Disney Pictures and Touchstone Pictures to DCI-compliant
digital projection systems to be deployed by Christie/AIX. Christie/AIX will
install between 2,500 and 4,000 systems throughout the United States and Canada
over the next two years.
Just over one month ago, Digital Cinema Initiatives, LLC (DCI), a joint venture
of Disney and other major studios, issued the final technical specification for
theatrical digital equipment. Christie/AIX's installation plan marks the first
mass deployment following the DCI specification's release. The benefits of DCI
compliance should be apparent to consumers as the systems initially deployed by
Christie/AIX will include DCI-compliant compression, the state of the art in
moving image projection which delivers the highest-quality DLP Cinema™ image
to the movie screen. All systems will be upgraded to full DCI compliance as soon
as the hardware is available.
Disney is the first major studio to sign an agreement to provide content for
Christie/AIX digital systems. Recently, in an unprecedented move, Disney led the
film industry by introducing Disney Digital 3D™, using Christie DLP Cinema
projectors and Dolby servers. Audiences can enjoy this true three-dimensional
digital experience in movie theaters on November 4, 2005, with the highly
anticipated release of the Walt Disney animated film Chicken Little.
AccessIT's Christie/AIX unit serves as the funding vehicle and administrator for
the company's 4,000-screen digital cinema rollout plan expanded from the one
originally announced in June 2005. Under the plan, Christie/AIX will act as a
financing intermediary between content owners - including major studios and
independent distributors - and exhibitors who will utilize DCI-compliant digital
cinema systems including 2K projectors and related hardware and software. The
raising of capital for funding of the initial 200 systems was completed on July
21, 2005.
"We are thrilled that we have come to an agreement with Christie/AIX to supply
content to their digital projection systems, and we will continue to support
other deployment plans in order to ensure the future success of the exhibition
industry," said Chuck Viane, president, BVPD. "DCI-compliant digital cinema
rollouts will allow consumers to enjoy the highest quality cinema experience
available while providing clear benefits to exhibition partners. We couldn't be
more pleased with the top-of-the-line performance of Christie projectors and
look forward to seeing our films presented in the highest digital viewing
quality available."
"We appreciate the importance of this signing as a major step forward for
AccessIT and the industry," commented Bud Mayo, chairman and chief executive
officer of AccessIT. "Disney has always been extremely forward-thinking in the
digital cinema space, and in supporting this venture in particular. We expect
this to be the first of several signings with studios in the next month or so,
accompanied by agreements with exhibitors. The contribution of Christie to this
and other contemplated signings cannot be overstated. As we expand the number of
stakeholders in this groundbreaking venture, AccessIT is proud to be a key
member on such an impressive team. We fully expect the deployment to begin in
October with at least 150 screens in time for Christmas."
Jack Kline, president and COO, Christie, noted, "Exhibitors were one of our top
priorities when we crafted the agreement. We wanted to ensure that maintenance
costs remained similar to that of film projection while providing higher quality
images. Disney, an innovator and leader in the art of entertainment, is an
important part of the equation. By marrying their leadership with our
understanding of the unique needs of the exhibition community, moviegoers
everywhere will be the big winners, enjoying the spectacular visual experience
of digital cinema technology that is unmatched by anything they have ever seen
before."
Chuck Goldwater, president and COO of Christie/AIX added, "The Disney contract
is the first of several announcements concerning our rollout plan that we expect
to make in the weeks ahead. It re-affirms our confidence that the plan is
viable, practical and workable for all industry participants. We are encouraged
and grateful for the growing support from the studios and from exhibitors, which
will enable AccessIT to continue to help drive the industry's transition to the
digital future."
