Regal Entertainment Group signed a deal to
bring 1,500 more 3-D movie screens from RealD Corp. to its theatres in the domestic
market. Regal Entertainment Group is one of the largest cinema chains in the United States. This
measure is supposed to be a step forward in the struggle to keep customers
coming to movie theatres rather than watching DVD’s at home.
The Regal deal is the largest commitment to
3-D by any movie theatre chain, the companies said, raising the number of
screens running RealD's 3-D technology to over 3,500.
Theatres have to be outfitted with digital
projectors and then can add 3-D technology.
“We look forward to the finalization of the
DCIP deals, which will allow Regal to commence the expanded 3-D roll-out,” said
Mike Campbell, Chief Executive Officer and chairman of Regal Entertainment
Group, the largest movie chain operator with 6,763 screens in 551 locations.
Regal, Cinemark Holdings Inc and AMC
Entertainment Inc AC. N, which are DCIP’s members said that the group was
forced to delay the financing deal with studios to deploy cinema digital
technology to the second quarter of 2008. Initially, they hoped to finish the
deal by the fourth quarter of 2007.
The 3-D concert movie “Hannah Montana/Miley
Cyrus: Best of both Worlds Concert Tour” was a success. It grossed nearly $30
million in its opening weekend.
In a statement, Chief Executive Jeffrey Katzenberg,
a leading proponent of 3-D films, said he believed the Regal and RealD
partnership “marks a defining moment for the greatest transformation in movie-going
in 70 years.”
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