Carmike Cinemas Contracts to Install 2,300 Digital Cinema Projection Systems from Christie/AIX
19 12월 2005 - 10:00PM
PR Newswire (US)
MORRISTOWN, N.J. and COLUMBUS, Ga., Dec. 19 /PRNewswire-FirstCall/
-- Access Integrated Technologies, Inc. ("AccessIT") (AMEX:AIX) and
Carmike Cinemas, Inc. ("Carmike") (NASDAQ:CKEC) jointly announced
today that Carmike, the third largest national movie theatre
circuit, has executed a contract with AccessIT's Christie/AIX
subsidiary, for the installation of up to 2,300 Digital Cinema
projection systems throughout the United States. With this
agreement, Carmike and Christie/AIX will begin installing 2K
DCI-compliant DLP Cinema(R) projectors. The rollout is scheduled to
begin in January, 2006 and to be completed by October 31, 2007. "We
are proud to have the opportunity to work with Carmike, not only
one of the nation's largest theatre chains, but also one of the
most forward-looking," commented Bud Mayo, President and Chief
Executive Officer of AccessIT. "It would be hard to exaggerate the
significance of today's development as a major milestone for the
industry and for our respective companies, and we are privileged to
be a partner in this important undertaking. Working together,
Carmike, Christie and AccessIT are committed to elevating the movie
going experience and to bringing the many benefits of digital to
audiences in the months ahead." Michael W. Patrick, Chairman of the
Board, President and CEO of Carmike Cinemas, Inc. added, "We are
eagerly looking forward to launching this rollout with
Christie/AIX. Digital Cinema is the future of exhibition, combining
eye-popping image quality that will dazzle moviegoers with
unmatched programming flexibility. This flexibility will enable our
company to capitalize on new programming options such as 3-D, live
sporting events, and other alternative content while continuing to
present traditional movies with the best picture and sound possible
for even the longest of runs." "The contract with Carmike is truly
a tipping point for Digital Cinema. As a progressive company with
clear vision, Carmike has identified Digital Cinema as the next
growth and revenue opportunity for their business. We are very
pleased that they have chosen DLP Cinema(R) from Christie, a proven
technology, to bring the digital experience to the heartland of
America," stated Jack Kline, President and COO, Christie USA. "The
collaborative efforts of DCI, the studios and the exhibition
community confirm that Digital Cinema is no longer just a dream --
it's real, and it's here to stay." AccessIT's Christie/AIX unit
serves as the funding vehicle and administrator for the company's
4,000-screen digital cinema rollout plan expanded significantly
from the total originally announced in June 2005. Christie/AIX will
act as the financing intermediary between content-owners -- major
studios and independent distributors, among others -- and
exhibitors who will receive turnkey, DCI-compliant Digital Cinema
systems including 2K projectors and related hardware and software.
Bear, Stearns & Co. acts as the financial advisor to AccessIT.
A series of key developments preceded today's announcement;
notably, formal contracts with The Walt Disney Company, Twentieth
Century Fox, Universal Pictures, Sony Pictures Entertainment and
most recently DreamWorks SKG. Initial deployments in the plan began
in late October in theatres in Detroit, Michigan, owned by Emagine
Entertainment, Inc. and at multiple locations in San Diego and
Riverside County (CA) multiplexes owned by Ultrastar Theaters, Inc.
Completion on these first 150 systems is anticipated before the
close of the year. In a related development, to provide equity
funding for this large-scale deployment, AccessIT intends to move
forward with the filing of a common stock shelf registration in the
very near future. Access Integrated Technologies, Inc. (AccessIT)
is an industry leader in offering a fully managed storage and
electronic delivery service for owners and distributors of digital
content to movie theaters and other venues. Supported by its robust
platform of fail-safe Internet data centers, AccessIT is able to
leverage the market-leading role of its Theatrical Distribution
System (TDS) with its innovative digital delivery capabilities and
in-theatre software systems to provide the highest level of
technology available to enable the emerging Digital Cinema industry
to transition from film without changing workflows. For more
information on AccessIT, visit http://www.accessitx.com/. Christie
is a leader in visual solutions for world-class organizations,
offering diverse applications for business, entertainment, and
industry. A leading innovator in film projection since 1929 and a
pioneer in projection systems since 1979, Christie has established
a global reputation as a total service provider and the world's
single source manufacturer of a variety of display technologies and
solutions. Christie offers comprehensive solutions for cinema,
large audience venues, control rooms, business presentations,
training facilities, 3D and Virtual Reality, simulation and
education as well as industrial and government environments. For
more information on Christie's cinema solutions and to find a
theatre with Christie DLP Cinema(R) projectors, visit
http://www.christiedigital.com/. Carmike Cinemas, Inc. is a
premiere motion picture exhibitor in the United States with 307
theatres and 2,469 screens in 37 states, as of September 30, 2005.
Carmike's focus for its theatre locations is small to mid-sized
communities with populations of fewer than 100,000. Carmike's
common stock is traded on the NASDAQ National Market under the
ticker symbol "CKEC." For more information visit Carmike's website,
http://www.carmike.com/. Safe Harbor Statement Investors and
readers are cautioned that certain statements contained in this
document, as well as some statements in periodic press releases and
some oral statements of AccessIT officials during presentations
about AccessIT, along with AccessIT 's filings with the Securities
and Exchange Commission, including AccessIT 's registration
statements, quarterly reports on Form 10-QSB and annual report on
Form 10-KSB, are "forward-looking" statements within the meaning of
the Private Securities Litigation Reform Act of 1995 (the "Act").
Forward-looking statements include statements that are predictive
in nature, which depend upon or refer to future events or
conditions, which include words such as "expects," "anticipates,"
"intends," "plans," "could," "might," "believes," "seeks,"
"estimates" or similar expressions. In addition, any statements
concerning future financial performance (including future revenues,
earnings or growth rates), ongoing business strategies or
prospects, and possible future actions, which may be provided by
AccessIT's management, are also forward-looking statements as
defined by the Act. Forward-looking statements are based on current
expectations and projections about future events and are subject to
various risks, uncertainties and assumptions about AccessIT, its
technology, economic and market factors and the industries in which
AccessIT does business, among other things. These statements are
not guarantees of future performance and AccessIT undertakes no
specific obligation or intention to update these statements after
the date of this release. This press release is not an offer to
sell or a solicitation of an offer to buy, nor shall there be any
sale of, securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. DLP Cinema(R) is a registered trademark of Texas
Instruments Inc. Contact: Suzanne Tregenza Moore Michael Glickman
AccessIT The Dilenschneider Group 55 Madison Avenue 212.922.0900
Suite 300 Morristown, NJ 07960 973.290.0080
http://www.accessitx.com/ Dorina Belu Christie 519.749.3323
http://www.christiedigital.com/ Judy Russell Carmike Cinemas, Inc.
706.576.2737 http://www.carmike.com/ DATASOURCE: Access Integrated
Technologies, Inc. CONTACT: Suzanne Tregenza Moore of AccessIT,
+1-973-290-0080; or Michael Glickman of The Dilenschneider Group,
+1-212-922-0900, for AccessIT; or Dorina Belu of Christie,
+1-519-749-3323, ; or Judy Russell of Carmike Cinemas, Inc.,
+1-706-576-2737, Web site: http://www.accessitx.com/
http://www.christiedigital.com/ http://www.carmike.com/
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