Marcus Theatres® Selects Ballantyne Strong, Inc., Cinedigm, Doremi Cinema and NEC Display Solutions of America to Deploy Digital Cinema Across Its Circuit
Published On: Wednesday, August 17, 2011
MILWAUKEE--(BUSINESS WIRE)-- Marcus Theatres®, a division of The Marcus Corporation (NYSE: MCS), today announced it has selected four leading digital cinema companies to deploy digital cinema across its circuit.
Doremi Cinema will provide the digital servers for the digital cinema deployment. NEC Display Solutions of America (NEC), a leading provider of commercial LCD display and projector solutions, will provide the digital cinema projectors, in conjunction with Ballantyne Strong, Inc. (NYSE Amex: BTN), NEC’s digital projection system master reseller. Strong Technical Services, Inc., Ballantyne’s service group, will handle all installations and continued maintenance and remote monitoring from their state-of-the-art Network Operations Center in Omaha.
As announced previously, Marcus Theatres signed a master license agreement with CDF2 Holdings, LLC, a subsidiary of Cinedigm Digital Cinema Corp. (NASDAQ: CIDM) to deploy digital cinema systems in approximately 630 first-run screens at 47 company-owned locations. The agreement includes 64 previously installed systems. The costs to deploy this new technology will be covered primarily through the payment of virtual print fees (VPF) from studios to implementation companies. Cinedigm, the global leader in digital cinema conversion programs, is responsible for structuring and implementing the underlying virtual print fees (VPF) agreements with the studios, as well as administering the VPF program.
When completed, state-of-the-art digital projection technology will be offered at virtually all screens operated by Marcus Theatres. Installation of the first systems is underway, with the balance scheduled to be completed by the end of September 2011.
“By joining with these four leading digital cinema companies, we have assured that our guests can experience the pristine visual presentations digital cinema offers,” said Bruce J. Olson, president of Marcus Theatres. “Benefits of digital cinema include the ability to offer the latest technology enhancements in picture resolution and digital projection speeds, as well as higher quality resolution to enjoy dramatic special effects and impeccable camera shots. Digital cinema technology will also enable us to offer more presentations of live and recorded alternate content and add more 3D systems to the 104 screens we already operate.”
“We’re thrilled we were able to create a customized digital cinema solution for Marcus Theatres, including an anchor position in our recently announced up to $130 million digital cinema funding facility,” said Chris McGurk, chairman and CEO of Cinedigm. “We look forward to supporting the Marcus rollout so their audiences can enjoy the benefits of digital cinema as soon as possible.”
“We are extremely pleased with Marcus Theatres’ decision to deploy Doremi’s IMB (Integrated Media Blocks) across their circuit,” said Michael Archer, vice president of digital cinema, Doremi Cinema. “Not only are they deploying the industry’s only DCI (Digital Cinema Initiative) Compliant IMB, but Marcus Theatres will benefit from the advanced feature set including higher frame rates and alternative inputs with complete scaling.”
“We are grateful for the opportunity to expand our relationship with Marcus Theatres,” said Jim Reisteter, general manager, digital cinema, NEC Display Solutions. “We look forward to assisting the company with their migration from film to digital with our award-winning cinema projectors.”
“Ballantyne Strong is extremely proud to continue our 40-plus year partnership with Marcus Theatres on their conversion to digital projection technology. Along with providing the first-rate equipment of our distribution partners, NEC and Doremi, Ballantyne will also be offering installation, NOC and after-sale maintenance services for the entire Marcus Theatres circuit,” said Gary L. Cavey, president and CEO of Ballantyne Strong.
About Marcus Theatres
Marcus Theatres®, a division of The Marcus Corporation (NYSE:MCS), is the sixth largest theatre circuit in the United States and currently owns or operates 684 screens at 55 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio. For more information, visit the Marcus Theatres website at www.marcustheatres.com.
About The Marcus Corporation
Headquartered in Milwaukee, Wisconsin, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. In addition to its Marcus Theatres division, the company’s lodging division, Marcus Hotels and Resorts, owns or manages 18 hotels, resorts and other properties in nine states. For more information, visit the company’s web site at www.marcuscorp.com.
About Ballantyne Strong, Inc.
Ballantyne Strong is a provider of digital cinema projection equipment and services as well as cinema screens, motion picture projectors and specialty lighting equipment and services. The company supplies major and independent theatre chains, top arenas, theme parks and architectural sites around the world. For more information, please visit the website at www.strong-world.com.
About Cinedigm Digital Cinema
Cinedigm Digital Cinema is the leader in transforming movie theaters into digital and networked entertainment centers, providing a higher quality theatrical experience and expanded content options for audiences across North America. With their proprietary technology and software, Cinedigm's digital conversions enable theatres to run unique alternative content programming, including LIVE 2D & 3D sports & concerts, independent films, LIVE Q&As with cast members, branded entertainment and much more. Recent releases by Cinedigm include the ground-breaking, worldwide LIVE 3D broadcast of the FIFA World Cup Championship, the BCS Championship in LIVE 3D, the Dave Matthews Band 3D concerts and the sold out 3D PHISH concerts. Cinedigm™ and Cinedigm Digital Cinema Corp.™ are trademarks of Cinedigm Digital Cinema Corp. For more information, please visit the website at www.cinedigm.com.
About Doremi Cinema
Doremi Cinema is the digital cinema hardware division of Doremi Labs Inc. located in Burbank California. For over 25 years, Doremi has been providing award-winning hardware solutions for broadcast, presentation and special venue markets. Doremi’s innovative engineering group developed and introduced the first digital cinema server capable of playing JPEG2000 digital cinema movies conforming to DCI specifications. Doremi continues to build on that success by anticipating the needs of their customers and defining solutions to solve the new challenges faced by the cinema industry as it continues to make the transition to all digital exhibition. Doremi’s family of digital cinema servers and mastering stations set the standard for quality and reliability and are installed in theaters and post production facilities around the world. Doremi’s install base of digital cinema playback servers has exceeded 20,000 units globally and remains the most installed server in digital cinema history to date. For more information, please visit the website at www.doremicinema.com.
About NEC Display Solutions of America, Inc.
Headquartered in Itasca, Ill., NEC Display Solutions of America, Inc., is a leading designer and provider of innovative desktop LCD monitors, commercial- and professional-grade large-screen LCD displays, a diverse line of multimedia and digital cinema projectors, and integrated display solutions. NEC Display Solutions develops leading-edge visual technology and customer-focused solutions for a wide variety of markets, including enterprise, healthcare, education and digital signage. For additional information about NEC Display Solutions of America monitors, consumers can call (866) NEC-MORE, or visit the website at www.necdisplay.com.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we “believe,” “anticipate,” “expect” or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, and preopening and start-up costs due to the capital intensive nature of our businesses; (3) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (4) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (5) the effects on our occupancy and room rates from the relative industry supply of available rooms at comparable lodging facilities in our markets; (6) the effects of competitive conditions in our markets; (7) our ability to identify properties to acquire, develop and/or manage and continuing availability of funds for such development; and (8) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States, the United States’ responses thereto and subsequent hostilities. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
The Marcus Corporation
Douglas A. Neis, (414) 905-1100
Carlo W. Petrick, (414) 905-1505
Source: The Marcus Corporation
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