Jackie Chan Cinema and Dolby Laboratories today announced that the premium Dolby Cinema experience is coming to the top-grossing movie site in China, Jackie Chan Cinema’s Beijing Wukesong. The cinema site topped China’s box office and attendance rankings from 2011 to 2015. In 2014, it was the only cinema to achieve a box office gross of RMB 100 million in China.
AMC has announced plans to acquire Carmike Cinemas for a reported $737 million in cash. Under the terms of the deal, AMC will offer $30 a share, an increase of 19 percent over Carmike’s closing price on Thursday. AMC would also Carmike’s debt, making the transaction worth about $1.1 billion. If approved, the deal would give AMC more than 600 theatres, making it the largest theatre chain in the country.
Carmike Cinemas today reported results for the three and twelve-month periods ended December 31, 2015 and noted continued growth. “Carmike’s record fourth quarter and 2015 full year financial results reflect the ongoing success of our theatre-level initiatives, the progress we are achieving with our value-building theatre acquisition and organic growth strategies and the overall strength of the U.S. box office. Our admissions revenue growth per screen of over 15 percent in the 2015 fourth quarter and 9 percent for the full year outpaced the industry by almost 500 and 200 basis points, respectively. We achieved record results across several key financial metrics, including a 19 percent rise in operating revenues to an all-time quarterly record, as well as a rise in operating income of over 100 percent, which drove increases in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and theatre level cash flow of approximately 61 percent and 51 percent, respectively,” said David Passman, Carmike Cinemas’ president and chief executive officer.
Ymagis Group and Helios today announced an agreement for the deployment of content delivery technologies at Helios multiplexes across Poland. Under the terms of the agreement, the entire Helios cinema circuit (206 screens, 37 sites) is set to be equipped with Ymagis Group’s proprietary electronic receiver equipment before the end of March.
UFO Moviez India has launched a franchise brand called Nova Cinemas under its subsidiary Valuable Digital Screens Private Limited. With this asset light initiative, VDSPL aims to recreate the screen growth in non-metro regions across India. Under Nova Cinemas, VDSPL will encourage local entrepreneurs to own and operate Nova branded theatres in various parts of the country.
Turkey’s cinema exhibition business is in impressive health right now, with more than 2,000 screens generating more than 40 million ticket sales in 2015. It’s clearly a great time for Turkish cinemagoers. With consumer confidence up, new theatres are opening at an unprecedented rate. Hungry for better entertainment experiences, customers are packing auditoriums in big-screen multiplexes and smaller boutique cinemas.
Carmike Cinemas has acquired two movie theatres from an AMC Entertainment subsidiary for a total of $5.4 million in cash. The transactions simultaneously closed upon signing of the purchase agreements.
Independent cinema operator Broadway Kino has signed Germany’s first Managed Services customer agreement with Sony Digital Cinema 4K. Under the terms of the deal, Broadway Kino replaced older DLP Series 1 projectors at two of its six screens with new Sony SRX-R515DS 4K dual projection systems.
Cinemark will open a new nine-screen theatre in Tacoma, Washington November 19. The Century Point Ruston and XD will feature Cinemark’s NextGen cinema design concept, luxury lounger recliners, and a Cinemark XD: Extreme Digital Cinema auditorium. The new complex will open with the highly anticipated movie The Hunger Games: Mockingjay, Part 2.
Turkey’s largest cinema operator, Mars Cinema Group, has purchased a total of 82 digital cinema projectors from Sony.