Digital Cinemas Due Throughout Europe
Posted on: Saturday, 24 May 2008, 15:00 CDT
A new deal between top Hollywood studios and the Europe-based cinema company XDC will create 8,000 new digital cinemas in Europe, an XDC official says.
XDC chief executive Serge Plasch said his company's deal with Warner Bros., Paramount Pictures, 20th Century Fox and Walt Disney Studios would allow European theater owners a reason to turn to digital services, The Hollywood Reporter said Friday.
These milestone agreements offer European exhibitors a viable business model to convert their screens to digital cinema, Plasch said.
The long-term agreements between the cinema giants should create 8,000 new digital cinema locations throughout 22 European countries, the Reporter said.
The digital rollout, which has a preset maximum length of five years, will be co-financed by the involved parties during the next 10 years.
XDC officials told the Reporter the agreements are worth a total of $947 million, adding that Universal and Sony Pictures are in negotiations for similar deals.
Source: United Press International
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