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MAHWAH, N.J—Mar 10, 2010

Digital Cinema Implementation Partners Announces Completion of $660 Million Financing for Digital Cinema Upgrade

With financing completed, DCIP will provide digital projection systems to theatre locations across North America
Digital Cinema Implementation Partners, LLC ("DCIP") announced today that it has completed its financing transactions for the deployment of digital projection systems to nearly 14,000 movie theatre screens across North America, including screens operated or managed by AMC Entertainment Inc. ("AMC"), Cinemark Holdings, Inc. ("Cinemark")  and Regal Entertainment Group ("Regal") (together the "Member Circuits").  

This financial support, coupled with commitments from the Member Circuits and numerous motion picture distributors, will not only accelerate the expansion of digital cinema, but also provide more consumers than ever before with an enhanced movie-going experience.

Digital cinema promises a new world of programming flexibility, high-quality and consistency of projected image, and the addition of potent new viewing technologies, including digital 3D.  It has already demonstrated the ability to expand alternative, non-traditional movie theatre programming including pre-recorded and live events, and will ultimately provide higher quality choices and greater variety to entertainment seekers.

DCIP has been working with its financial advisors, J.P. Morgan ("JPM") and Blackstone Advisory Partners L.P. ("Blackstone"), since its inception.  These financing transactions include commitments of $445 million in senior bank debt,$135 million in additional junior capital and $80 million in equity from the Member Circuits for a total of $660 million in financing.  DCIP will now begin deployment of digital screens throughout the United States and Canada.  The senior bank debt is rated Baa2 by Moody's Investor Services and was arranged by JPM.  The bank group providing financing consists of JPM, GE Capital, Sumitomo Mitsui Banking Corporation, Barclays Bank, Credit Suisse, Morgan Stanley, Bank of America Merrill Lynch, Deutsche Bank, and Citi.  The junior capital was placed with third party investors identified by Blackstone.

DCIP was formed in February 2007 as a joint venture owned equally by AMC, Cinemark, and Regal for the purpose of financing, procuring and deploying digital projection systems to movie theatre screens across the United States andCanada.

The digital projection systems deployed by DCIP will comply with the technical and security specifications developed by Digital Cinema Initiatives, LLC.  DCIP has executed long-term deployment agreements with Twentieth Century Fox, Sony Pictures Entertainment, Walt Disney Studios Motion Pictures, Paramount Pictures, Universal Pictures, and Lionsgate Films.

"We are excited that with the continued support of our owners, studio partners and financial advisors we have completed this critical step in our process," said Travis Reid, CEO of DCIP.  "Over the next few years, we'll be aggressively implementing the transition to digital technology in theatres across North America.  Guests will enjoy enhanced presentation and additional entertainment options at their favorite theatres as Exhibitors and content providers capitalize on the flexibility enabled by digital technology, including many upcoming releases using digital 3D.  Having this substantial financial package and our studio partnerships in place, we're pleased to launch this new era of technology to guests looking for an exceptional out-of-home experience."

"AMC is a strong advocate of the industry's move to a digital platform, as we believe digital cinema delivers a new world of programming opportunities for exhibitors, along with a more efficient method of supplying content to our theatres," said Gerry Lopez, President and CEO of AMC. "Most importantly, digital cinema will provide an enhanced entertainment experience for our guests."

"Digital cinema is an industry transforming technology, allowing us to significantly enhance the use of our auditoriums. The success of 3D reflects the potential of digital cinema, differentiating the theatre experience from other entertainment venues and providing additional value to our patrons," stated Alan Stock, CEO of Cinemark Holdings, Inc. "DCIP's funding will allow us to capitalize on this opportunity."
"The rollout of digital cinema is an historic milestone for our industry.  Our patrons have overwhelmingly embraced digital 3D and the alternative programming made possible by digital projection. Regal is confident that this technology enriches the movie-going experience and greatly enhances our business," said Amy Miles, CEO of Regal Entertainment Group.  "The completed funding of DCIP allows us to expedite the pace of Regal's digital cinema deployment."


DCIP Contacts:
For all DCIP/VPF inquiries: 
info@dcip.com

For all Cinergy inquiries: 
info@Cinergy.software 

Logo: Digital Cinema Implementation Partners, LLC
About Digital Cinema Implementation Partners, LLC:
DCIP is a joint venture owned equally by exhibition industry leaders AMC Entertainment Inc., Cinemark Holdings, Inc. and Regal, a subsidiary of Cineworld Group plc. Formed over 10 years ago to facilitate the upgrade from 35mm to digital projection technology, DCIP has overseen the conversion of more than 18,000 screens across the United States, Canada and Latin America, and continues to provide management services and facilitate information flow for its deployment footprint and exhibition and distribution partners. 
  
As part of the monumental transition from film print to digital technology, DCIP developed extensive expertise in managing vast amounts of information throughout its digital network, which led to the creation of Cinergy, a scalable centralized enterprise software suite developed to help exhibitors and distributors better monitor and manage cinema execution, presentation and quality assurance, utilizing information that was not centrally available prior to the industry’s conversion. Additional information regarding DCIP and Cinergy is available at www.dcip.com and www.cinergy.software


Digital Cinema Implementation Partners, LLC Directory page Digital Cinema Implementation Partners, LLC Web Site

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More DCIP News:
May 22, 2019 Classic Cinemas Selects Cinergy Enterprise Solution
Moving iMage Technologies Logo
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Digital Cinema Implementation Partners, LLC (DCIP) and Moving Image Technologies (MiT) announced today that Classic Cinemas, after exploring various software options, has selected DCIP’s enterprise solution, Cinergy, to manage its Illinois-based theater circuit.

Apr 2, 2019 Fathom Events Completes Rollout of Cinergy Event Monitoring System
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Digital Cinema Implementation Partners, LLC (DCIP) announced today that Fathom Events, the recognized leader in the event cinema industry, has completed the rollout of DCIP’s Cinergy Event Monitoring system.

Apr 1, 2019 Regal Rolls Out DCIP’s Cinergy Solution Circuit Wide
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Digital Cinema Implementation Partners, LLC (DCIP) and Regal, a subsidiary of the Cineworld Group, announced that Regal has selected DCIP’s enterprise software solution, Cinergy, to manage its theater circuit across the United States.

Mar 29, 2019 DCIP and MiT Release Cinergy’s Lamp Management Module
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DCIP Logo
Digital Cinema Implementation Partners (DCIP) and Moving Image Technologies (MiT) today announced the release of Cinergy’s Lamp Management module as the latest addition to their enterprise software suite. Cinergy continues to evolve to meet the ongoing needs of theater operators as they face new opportunities and challenges with rapidly advancing technologies.

Jan 14, 2019 DCIP Deploys New Cinergy Preventative Maintenance Module
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Digital Cinema Implementation Partners, LLC (DCIP), a leader in the digital cinema industry, is pleased to announce its new Preventative Maintenance module as the latest addition to its Cinergy enterprise software suite. Cinergy continues to evolve to meet the ongoing needs of theater operators as they face new opportunities and challenges with rapidly advancing technologies.

Dec 20, 2018 DCIP Announces New Cinergy Health Monitoring Features
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Digital Cinema Implementation Partners, LLC (DCIP), a leader in the digital cinema industry, is pleased to announce new features to its Cinergy Health Monitoring system, as it continues to service the cinema industry at the highest level.

Dec 11, 2018 DCIP Highlights New Cinergy Asset Tracking Features
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Digital Cinema Implementation Partners, LLC (DCIP), a leader in the digital cinema industry, is pleased to announce new features to its Cinergy Asset Tracking system, as it continues to service the cinema industry at the highest level.

Nov 12, 2018 DCIP Takes its Cinergy Platform to the Next Level
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DCIP has developed an industry leading software platform, Cinergy, for optimizing theater operations by leveraging the capabilities of digital systems. Furthermore, we have used our unique industry position to team up with exhibitor and distributor service partners to provide additional value to our customers and enable us to engage in a full range of ancillary services.

Mar 25, 2017 National Amusements to Roll Out Cinergy™
Moving iMage Technologies Logo
DCIP Logo
Digital Cinema Implementation Partners (DCIP) and Moving Image Technologies (MIT) announced today that National Amusements Inc. of Norwood, Massachusetts will begin a roll out of DCIP’s enterprise software solution Cinergy™ across its U.S. market. MIT is DCIP’s distributor of Cinergy in The Americas and provides Cinergy customers with front-line support for the product. Implementation of Cinergy is already underway NAI’s US territories.

May 17, 2013 Digital Cinema Implementation Partners Closes $755 Million Refinancing Transaction
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Digital Cinema Implementation Partners, LLC (DCIP) announced today that it has closed on a new $755 million credit facility comprised of an 8-year $680 million term loan B and a 5-year $75 million revolving credit facility. The proceeds from the term loan B were used to prepay existing debt and to pay fees and other transaction related expenses.

Apr 14, 2011 Cineplex Entertainment and Empire Theatres Create New Partnership To Manage the Conversion to Digital Cinema
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Cineplex Entertainment and Empire Theatres Limited jointly announce the formation of Canadian Digital Cinema Partnership (“CDCP”) – to plan and implement the deployment of digital projection equipment in the two partner’s theatres. The plan will include procuring equipment, arranging financing and securing digital deployment agreements with studios and other content providers.

Mar 31, 2011 Digital Cinema Implementation Partners Announces $220 Million Financing Transaction
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Digital Cinema Implementation Partners, LLC (DCIP) announced today that it has closed on a new $220 million term loan facility that will be utilized to deploy digital projection systems. The new debt has been rated Baa1 by Moody’s Investors Services.

Mar 24, 2011 Digital Cinema Implementation Partners Names Richard Manzione as President and CEO
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The Board of Directors of Digital Cinema Implementation Partners, LLC (DCIP) announced today that Richard Manzione, the company’s Chief Operating Officer (COO), has been named President and Chief Executive Officer (CEO) effective March 1, 2011.

Oct 14, 2010 Digital Cinema Implementation Partners Announces Leadership Change
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Digital Cinema Implementation Partners, LLC (DCIP) announced today that Travis Reid, CEO of DCIP, has resigned effective Oct. 22. Led by DCIP's Board of Directors, the recruitment process for a new CEO is already underway and expected to proceed quickly.

Mar 22, 2010 Sony Electronics Signs Purchasing Agreements with Digital Cinema Implementation Partners
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Last week at ShoWest 2010, Sony Electronics announced it has entered into purchase agreements with Digital Cinema Implementation Partners, under which Sony Digital Cinema 4K projection systems will be deployed to both AMC Entertainment Inc. and Regal Entertainment Group theatres across the United States.


Oct 1, 2008 Digital Cinema Implementation Partners Announces Agreement with Five Studios for Digital Cinema Upgrade
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Digital Cinema Implementation Partners (DCIP) announced today that it has entered into long term agreements with Twentieth Century Fox, Walt Disney Motion Pictures, Paramount Pictures, Universal Studios and Lionsgate Films for the deployment of digital projection systems to nearly 20,000 movie theatre screens across North America, including the AMC, Cinemark and Regal theatre chains.

Dec 4, 2007 Steven B. Cohen to Consult for “Digital Cinema Distribution Coalition”
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The ground-breaking joint venture between Warner Bros. Entertainment, Universal Pictures and Digital Cinema Implementation Partners (DCIP), has now officially been named the “Digital Cinema Distribution Coalition” and has hired industry veteran Steven B. Cohen as a consultant to manage the project.

Mar 6, 2007 AMC Entertainment Inc., Cinemark USA and Regal Entertainment Group Form Company to Launch Theatre Conversion to Digital Cinema
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The motion picture industry is at the threshold of another major theatrical transition: the transformation from celluloid 35mm film to digital technology.
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