Denver, Co—Jun 28, 2006
Exhibition Industry Veteran Travis Reid Joins National CineMedia to Head Digital Cinema Business Development
Former Loews Executive to Work with Financing Sources and Studios to
Develop Digital Cinema Business Plan
Former Loews Cineplex Entertainment
President and CEO Travis Reid has been retained by National CineMedia
(NCM), the joint venture of AMC Entertainment Inc., Cinemark USA, Inc.
and Regal Entertainment Group (NYSE: RGC) to lead the effort to create a
business plan for the financing of digital cinema with the major
studios. The announcement was made today by Kurt Hall, chairman and
chief executive officer of NCM.
In his new role, Mr. Reid will work with National CineMedia's management
and NCM founding partners, as well as various financing sources and the
major motion picture studios on the development of a digital cinema
business plan and financing model. Reid will also work closely with Tom
Galley, NCM's chief operations and technology officer, who is
responsible for digital cinema system design, procurement and
implementation. Once a digital cinema business plan is finalized, Reid,
in cooperation with funding sources and the studios, will guide the
development of a financing structure to support the deployment of
digital cinema equipment for NCM's partners'13,000 screens, as well as
other participating exhibitor screens.
Commenting on the announcement, Mr. Hall said, "Having known Travis for
many years, we are fortunate to have an executive of his caliber joining
National CineMedia. He brings valuable experience and perspective as
the theatre industry faces the biggest business and technological change
in its history. Travis' extensive theatre operations and film licensing
experience coupled with his trusted relationships with the major motion
picture studios make him an ideal person to lead the development of a
digital cinema business plan for NCM and its founding partners."
Mr. Reid is well-known throughout the motion picture industry, most
recently as president and CEO of Loews Cineplex Entertainment, where he
presided over the company's merger and integration with AMC
Entertainment Inc. Reid joined Loews in 1991 and has served in a
variety of film and operating positions, including president, North
American operations; president of Loews Theatres; and executive vice
president, Loews Theatres. Prior to joining Loews, Reid was vice
president of film for General Cinema Corporation's Midwest, Southwest
and Western regions.
Reid is currently a director of AMC Entertainment Inc. and Fandango.com,
a member of the executive committee for the National Association of
Theatre Owners and vice president of the Will Rogers Memorial Fund. He
was recently honored as the 2005 Will Rogers Motion Picture Pioneers
Foundation Pioneer of the Year.