Paramount Pictures Announces Digital Cinema Deals With Kodak and Digital Cinema Implementation Partners

Paramount Pictures Announces Digital Cinema Deals With Kodak and Digital Cinema Implementation Partners

Paramount Leads Other Studios With Most Digital Cinema Integration Agreements

HOLLYWOOD, Calif., Oct. 1 /PRNewswire/ -- Paramount Pictures today announced that it has signed digital cinema agreements with Kodak and Digital Cinema Implementation Partners (DCIP). Paramount is the first studio to sign an agreement with Kodak. The announcement was made by Jim Tharp, Paramount President of Domestic Theatrical Distribution. Paramount is a unit of Viacom Inc. (NYSE:VIA) (NYSE:and) (NYSE:VIA.B) .

In making the announcement, Tharp said, "These agreements signify an exciting and progressive development in digital cinema conversion. As more integrators enter the marketplace, the industry will be in a position to minimize overall costs, while maximizing the choices that exhibitors have to upgrade thousands of theatres around the world."

The Kodak deal, which will be applicable to the deployment of digital motion picture projectors to U.S. exhibitors, will provide for the payment of Virtual Print Fees (VPF) to help promote the installation of digital projection systems. Exhibitors who install the Kodak system, which also supports 3D technology, will convert to a DLP-based 2K projector, along with Kodak content players and the Kodak Theatre Management System. The deal covers as many as 8,000 U.S. screens.

"This is a proud step forward in our long relationship with Paramount and one more indication that we're serious about enabling our customers to choose Kodak as they make their digital plans for the future," said Gary Einhaus, general manager and vice president, Kodak Digital Cinema.

DCIP's theatre upgrade program calls for the conversion of thousands of screens throughout the U.S. and Canada to 2K or 4K digital projection systems including the theatres of DCIP's owners, Regal, AMC and Cinemark.

"We are pleased and excited to have our friends at Paramount join us in the digital revolution. As thousands of movie screens are converted to digital projection over the next few years, movie-goers will be able to enjoy new 3-D technologies and expanded programming in addition to consistent, high quality images. Our relationship with Paramount and other studios marks a key milestone in making digital cinema a reality and we look forward to working with them to ensure a smooth transition," said Travis Reid, CEO of DCIP.

With today's agreements, Paramount has signed a total of seven digital cinema integration deals, more than any other major studio. The others include two domestic agreements with Access IT (Phase 1 and Phase 2) and three deals with European integrators XDC, Arts Alliance Media and Ymagis. So far, more than 3,500 screens have been converted to digital under Access IT's Phase 1 plan.

About Paramount Pictures Corporation

Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NYSE:VIA) (NYSE:VIA.B) , a leading content company with prominent and respected film, television and digital entertainment brands. The company's labels include Paramount Pictures, Paramount Vantage, Paramount Classics, MTV Films, Nickelodeon Movies and DreamWorks Studios. PPC operations also include Paramount Digital Entertainment, Paramount Famous Productions, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., Paramount Studio Group, and Worldwide Television Distribution.

About Kodak

As the world's foremost imaging innovator, Kodak helps consumers, businesses, and creative professionals unleash the power of pictures and printing to enrich their lives. As a key member of the company's expanding participation in digital products and services, Kodak Digital Cinema has a growing market presence in 14 countries where its systems are used by 35 exhibition chains to show 2D and 3D digital presentations. To learn more, visit http://www.kodak.com/.

About Digital Cinema Implementation Partners

Digital Cinema Implementation Partners, LLC is a joint venture owned equally by exhibition industry leaders AMC Entertainment Inc., Cinemark Holdings, Inc. and Regal Entertainment Group, representing more than 14,000 screens in the U.S. and Canada. Formed in February 2007 to facilitate the roll-out of a digital cinema infrastructure nationwide, the company is headquartered in Upper Saddle River, NJ with offices in Minneapolis, MN and Denver, CO.

    Contacts:    Paramount    Patti Rockenwagner    323 956 5011    Patricia_Rockenwagner@paramount.com     Kodak    Bob Gibbons    323 468 4416    Robert.Gibbons@Kodak.com     Digital Cinema Implementation Partners    Richard Manzione    201 934 4215    rich@dcipllc.com  

First Call Analyst:
FCMN Contact:

Source: Paramount Pictures Corporation

CONTACT: Patti Rockenwagner of Paramount, +1-323-956-5011,
Patricia_Rockenwagner@paramount.com; or Bob Gibbons of Kodak, +1-323-468-4416,
Robert.Gibbons@Kodak.com; or Richard Manzione of Digital Cinema Implementation
Partners, +1-201-934-4215, rich@dcipllc.com

Web site: http://www.kodak.com/

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Profile: International Entertainment