MORRISTOWN, N.J., Nov. 22 /PRNewswire-FirstCall/ -- Moving aggressively to accelerate the transition to digital cinema, Christie/AIX, a unit of Access Integrated Technologies ("AccessIT"), (AMEX:AIX) today announced an agreement with Sony Pictures Entertainment whereby Sony Pictures will supply its upcoming films in DCI-compliant format to the 4,000 digital projection systems Christie/AIX intends to install in movie theaters in the U.S. and Canada over the next two years.
"We look forward to supporting Christie/AIX's Digital Cinema rollout, which combines innovative technologies with a true understanding of the specific business needs of each distributor and exhibitor," said Jeff Blake, Vice Chairman of Sony Pictures Entertainment and Chairman of Worldwide Marketing and Distribution for Columbia TriStar Motion Picture Group. "Digital Cinema will enable us to better deliver our creative content to audiences immersing them in a visually compelling form for a unique entertainment experience."
Jack Kline, President and COO, Christie, noted: "Sony Pictures has consistently delivered exciting, first class entertainment to audiences around the world. Their commitment is a great endorsement of the strength and viability of the Christie/AIX rollout strategy. Our proven plan is helping Hollywood and the exhibition communities make the transition to Digital Cinema seamless, while bringing renewed excitement to the movie going experience."
Commenting on the agreement, Bud Mayo, Chairman and Chief Executive Officer of AccessIT, said: "We are pleased that Sony Pictures has joined our rapidly growing list of studio partners. Christie/AIX is the first to implement a Digital Cinema rollout as we proceed with the first 150 screens of our planned installations. The signings of additional studios means more content for the increasing number of exhibitors who have indicated they wish to participate in our plan as well as increased cash flows for Christie/AIX."
The Agreement with Sony Pictures is in addition to recent agreements signed with Disney, Twentieth Century Fox and Universal, which has prompted Christie/AIX to begin the initial deployment of Digital Cinema systems 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. A total of 150 Digital Cinema systems are expected to be operational at these circuits by December 31, 2005.
Chuck Goldwater, President and Chief Operating Officer of Christie/AIX, added: "Sony has long been a pioneer in digital entertainment both technologically and in distribution. With its support, exhibitors will now gain access to a major new source of content for use on the growing number of digitally equipped screens. Based upon our late-stage negotiations and discussions with additional studios, a growing number of independent distributors plus both large and small exhibitors, we believe that Digital Cinema has the potential to reach all the screens in the U.S. and Canada within a decade."
About Sony Pictures
Sony Pictures Entertainment (SPE) is a subsidiary of Sony Corporation of America (SCA), a subsidiary of Tokyo-based Sony Corporation. SPE's global operations encompass motion picture production and distribution; television production and distribution; digital content creation and distribution; worldwide channel investments; home entertainment acquisition and distribution, operation of studio facilities; development of new entertainment products, services and technologies; and distribution of filmed entertainment in 67 countries. Sony Pictures Entertainment can be found on the World Wide Web at http://www.sonypictures.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 digital 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, visit http://www.christiedigital.com/.
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 heaters 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 with changing workflows. For more information on AccessIT, visit http://www.accessitx.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.
Source: Access Integrated Technologies Inc.