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01-23-2009, 06:06 PM
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Paramount ponies up 3D deal
FROM VARIETY: Studios show exhibitors the money
By Pamela McClintock of Variety -- Video Business, 1/23/2009
JAN. 23 | FROM VARIETY: Anxious to see more theaters converted to digital 3D screens before DreamWorks Animation's Monsters vs. Aliens opens in March, Paramount is offering to pay print fees directly to exhibitors who have the means to finance the conversion.
The digital cinema transition has been hit hard by the economic collapse and the freezing of the credit markets, which happened just as the consortium repping the country's three largest circuits AMC, Cinemark and Regal was trying to secure a multimillion-dollar line of credit.
There are a number of consortia repping different circuits, or independently owned theaters.
Studios are looking at alternative options to hurry the process along, considering that there are more than a dozen 3D releases this year, culminating with 20th Century Fox's Avatar in December.
Read the full story on Variety.com.