Exhibitors Get $660M For 3D Upgrades

AMC, Cinemark and Regal will re-do about 14,000 screens

Last Updated: February 25, 2010 @ 12:20 PM
Three large movie-theater chains are set to unveil a new $660 million financing plan to convert nearly half of the country’s silver screens to digital technology, paving the way for Hollywood to roll out more 3-D movies in the wake of the success of James Cameron’s "Avatar."
Using a 2007 joint venture established by AMC Entertainment Inc., Cinemark Holdings Inc. and Regal Entertainment Group, the trio will fund the overhaul of about 1,100 theaters, or about 14,000 movie screens.
In a digital conversion, theaters rip out old celluloid film projectors, and stop receiving weekly shipments of large film canisters.
Read more at the Wall Street Journal.