The Department of Justice has approved the sale of Starplex Cinemas, which operates 33 movie theatres with 346 screens in 12 states, to AMC Entertainment Holdings, Inc. for approximately $175 million, subject to final working capital and other adjustments. The sale and purchase agreement was originally announced in July.
Vista Entertainment Solutions has signed a new agreement with Ymagis Group/dcinex for the sale and distribution of VES cinema management software in Russia and CIS. The new partnership benefits both companies: Ymagis Group/dcinex expands the range of products and services offered by the company’s Moscow team; and for VES, this distribution agreement enables new and extended opportunities to secure cinema exhibition customers in Russia.
Even with such chart-topping titles as Jurassic World and The Avengers: Age of Ultron, 2015’s unadjusted cumulative box office is up only six percent over 2014 and only one percent over 2013. In a recent presentation, a top Movio executive suggested that the film industry is “leaving money on the table” by not paying more attention to underserved sectors of the movie going audience, namely women.
Cinedigm has appointed four new independent directors – Blair Westlake, Andy Schuon, Zvi Rhine, and Patrick O’Brien – to its board of directors, effective immediately. With the appointments announced today, the two current vacancies on the Board are filled and the size of the Board will go from 8 to 12 directors.
Ymagis Group has announced that its offer to take over the businesses and certain assets of Eclair Group was accepted today by the Nanterre Commercial Court as part of the company's rehabilitation proceedings, which began June 12.
AEG-owned Regal Cinemas L.A. Live Stadium 14, home to the first and only 4DX-equipped theatre in the United States, says it has tripled its revenue in the first year using CJ 4DPlex technology. The 104-seat 4DX auditorium at Regal Cinemas L.A. Live has achieved $1.52 million in revenue attracting 70,000 attendees since opening last year, representing an increase of 88 percent in attendance versus the previous 12 months in the same auditorium prior to the conversion. Jurassic World is now playing in the theatre as it celebrates its first anniversary as a 4DX venue.
National CineMedia has announced that after a thorough review of options, it has agreed with SV Holdco and Screenvision to terminate the Merger Agreement signed May 5, 2014, that would have combined NCM and Screenvision.
The Vitec Group has acquired the business of Paralinx, a California company known for its high-quality wireless video systems. Paralinx will be incorporated into the Vitec Group's Videocom Division, complementing its existing brands.
On the occasion of the 65th Berlin International Film Festival the European Audiovisual Observatory released its first estimates for European cinema attendance in 2014. The Observatory estimates that total admissions in the European Union increased marginally by 0.6 percent to 911 million tickets sold, around 5.4 million more than in 2013 (906 million). The small increase was primarily ensured by a strong year-on-year performance in France and Spain, which kept EU admissions from continuing their downward trend of recent years.
Digital Vision’s management team consisting of Kelvin Bolah, Greg Holland and Claes Westerlund has acquired the company.