Regal Entertainment (ticker: RGC) and AMC Entertainment announced the formation of National CineMedia LLC, a joint venture focused on movie advertising and delivering digital content.
The purpose of this venture appears to be the formation of a digital network for pre-recorded movie entertainment. As more films are digitally produced, it makes sense that the pre-movie entertainment is as well. Here are some quotes from the press release:
An innovative national digital network is being created that will
provide improved cinema advertising and marketing products, training
and communications services and a new type of digital platform for the
distribution of live and pre-recorded entertainment content.
With its industry leading digital
distribution technology, focused sales and marketing teams, and broad
geographic reach, the new company is perfectly positioned to deliver
more revenue to our owner circuits and other exhibitors, while at the
same time providing a high quality entertainment experience for theatre
Quick comment: It also sounds like Hall will no longer be co-CEO of RGC. Here's what the press release said:
Kurt Hall, co-chairman and co-chief executive officer of Regal Entertainment Group and president and chief executive officer of Regal CineMedia will be assuming the role of chief executive officer of National CineMedia after a short transition period.