New York and Denver—Jun 28, 2006
National CineMedia Engages Jpmorgan to Assist with Structuring of Digital Cinema Business
National CineMedia, LLC (NCM), the
media, marketing and content distribution venture of AMC Entertainment
Inc., Cinemark USA, Inc. and Regal Entertainment Group (REG, NYSE: RGC),
has selected JPMorgan to assist with the evaluation and development of a
financing plan to help support the exhibition and motion picture
industries' transition from film to digital cinema. NCM is actively
developing a digital cinema financing and equipment deployment plan for
its owner's nearly 13,000 screens nationwide, as well as other
participating exhibitor screens. The announcement was made today by
Kurt Hall, chairman and chief executive officer of NCM.
"Over the past several months our technology team has made great
progress working with manufacturers on the preliminary architecture and
cost of the digital cinema systems and now it is time to begin the
development of a detailed financing plan that will be supported by the
major studios and exhibitors," said Mr. Hall. "JPMorgan is the world's
leading media industry investment bank with a track record of developing
innovative financial solutions. This creativity and their understanding
and relationship base at the major studios will play a critical role as
we create the financial intermediary and agreements with the studios
that will support the cost of digital cinema. The appointment of
JPMorgan and the recent addition of Travis Reid to our team are critical
steps forward in our effort to make digital cinema a reality."