Paramount Pictures International Announces Direct to Exhibitors Digital Cinema Deal in International Markets
LAS VEGAS, April 1, 2009 -- Paramount Pictures International (PPI), a division of Paramount Pictures Corporation, itself a unit of Viacom Inc. (NYSE: VIA and VIA.B), today announced it will offer digital cinema support directly to exhibitors in the international markets. The move is expected to accelerate the roll-out of digital and 3-D projection systems in theatres outside of North America. The announcement was made at ShoWest by Roger Pollock, PPI Executive Vice President of International Theatrical Distribution and Operations.
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Similar to the deal announced by Paramount Pictures in the US in January, the international deal enables exhibitors to seek financing for d-cinema systems locally as an alternative to joining in an integrator agreement which requires significantly more upfront capital. In addition, the agreement enables exhibitors to own and control their equipment and to switch to an integrator-supported agreement at a later date if desired. The new agreement is open to independent theatres that do not belong to any integrator groups, an important consideration in the more fragmented international markets.
In making the announcement, Pollock said, "We believe that this deal mechanism presents international exhibitors with an opportunity to present Paramount's films in the highest quality digital and 3-D formats. It provides the international exhibition community with a solution that can be tailored to the needs of each individual market, and will enable exhibitors worldwide to provide audiences with the very best movie-viewing experience."
To date, Paramount Pictures International has signed six digital cinema integration deals outside of the US and Canada. They include three deals with European integrators XDC, Arts Alliance Media and Ymagis and three deals with Asian integrators DCK, GDC and Scrabble.
About Paramount Pictures International
Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NYSE: VIA, 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 and Nickelodeon Movies. 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.
Paramount Media Contact:
Katherine Willing
Paramount Pictures International
Fax: +44 (0)203 184 4141
Email: Katherine.Willing@Paramount.com
SOURCE Paramount Pictures International