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- North Haven, CT: Rave Cinemas North Haven 12 to be Replaced by New 14-Screen Cinemark Theater in 2015 [9/12]
- Birmingham, MI: Palladium 12 Closed [9/9]
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- Sunrise, FL: Frank Theatres - Sunrise 11 Closed [9/2]
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- Waynesville, MO: B & B Waynesville Patriot 12 & GS Opens August 29, 2014, Waynesville Cinema 8 Closed [8/28]
- Indianapolis, IN: Cinemark Washington Market 8 Closed [8/28]
- Streator, IL: Majestic Theatre Closed, Up For Sale [8/26]
- Frostburg, MD: R/C Theatres Closes R/C Cinemas 1-2-3, Employees Launch Effort to Reopen [8/25]
MORRISTOWN, N.J. – July 5, 2006 – Access Integrated Technologies, Inc. (“AccessIT”) (NASDAQ: AIXD) today announced that Rave Motion Pictures (“Rave”), one of the fastest growing and most prominent independent exhibitors in the country, has signed a contract with Christie/AIX, a wholly owned subsidiary of AccessIT, for the initial installation of 445 state-of-the-art digital cinema systems. Rave currently has 23 multiplexes in nine states with plans to add 4 more locations throughout the balance of 2006. It has operations in Illinois, Indiana, Ohio, Texas, Arkansas, Louisiana, Tennessee, Alabama and Florida; and as part of its 2006 expansion, it will add two additional states, Michigan and Pennsylvania. Rave is the sixth exhibition company to contract with AccessIT for its total conversion to digital cinema; its commitment brings the total number of screens for the Christie/AIX deployment to almost 3,000 of the planned 4,000.
Chuck Goldwater, President and COO of Christie/AIX, commented: “Rave’s vision and passion as an industry leader is further enhanced by their commitment now to digital cinema. We are proud and grateful that they have selected Christie/AIX to be their partner as they make this transition to digital. Their decision underscores the accelerating recognition and momentum within the exhibition industry. We look forward to working closely with Rave as they enter the digital era and to helping play an important part in their long-term development plans.”
“Rave is committed to superior quality in every aspect of our theatre operations,” said Tom Stephenson, CEO of Rave. “We are excited about bringing digital cinema to all our theatres, offering our patrons its dazzling, high-quality viewing experience, alternative content attractions, and unique applications like 3-D. We are confident that the Christie/AIX program will help us achieve those goals with their proven technology and Christie’s field service organization supporting us.”
Craig Sholder, Vice-President of Entertainment Solutions, Christie USA, added: "Rave is breaking new ground and demonstrating their industry leadership by recognizing the many benefits of digital cinema projection technology. With the installation of systems in conformance with the DCI standard, integrated by Christie's Entertainment Solutions Unit and installed and maintained by Christie's nationwide Managed Service and Support teams, moviegoers at Rave's theatres will be treated to the highest quality movie-going experience. Rave’s enthusiasm to introduce 3-D digital cinema systems is a testament to the enhancements exhibitors can make for their audiences once digitally enabled.”
The first Christie/AIX systems are already in operation in Rave’s Huntsville, AL and Peoria, IL locations. Installations are continuing at Rave locations throughout their circuit including 14 additional 3-D installations that will be ready for the opening of Sony Pictures’ “Monster House” on July 21. Total digital conversion of Rave multiplexes is scheduled for completion by mid-2007.
The Christie/AIX-funded deployment of Christie DLP Cinema® projectors also includes Doremi Cinema's DCP2000 JPEG servers, a central “library” server, two-way satellite communications, data storage equipment, Christie’s technical services, project management, and a 10-year maintenance plan which includes parts and labor. The central servers feature AccessIT’s unique vendor-neutral Theater Command Centre software, which allows all digitally-equipped screens in a multiplex to be networked, simplifying theater operations through centralized content management, scheduling and reporting.
Access Integrated Technologies, Inc. (AccessIT) is the industry leader in providing fully integrated software and services to enable the motion picture entertainment industry and all of its constituents to transition from film to digital cinema. Its studio-backed 4,000 screen ongoing deployment of digital systems is the first and the largest of its kind in the world. The company’s Theatrical Distribution System software and electronic satellite delivery services provide studios and content owners with a seamless entry into the digital era while its vendor neutral Theatre Command Center and Exhibitor Management System provide exhibitors with all the tools needed to transition to digital cinema. For more information on AccessIT, visit www.accessitx.com.
Founded in 1999 by Tom Stephenson, Rave Motion Pictures is a Dallas, TX based company, dedicated to enriching the movie-going experience. With 23 theaters in nine states, Rave is excited to be a top entertainment destination and through ongoing efforts, a good neighbor and corporate citizen. Rave’s exacting standards create unobstructed viewing utilizing 18-inch risers. There is a remarkable 48 inches between rows for maximum legroom and ease of motion. Every auditorium has the finest in projection and digital surround sound equipment.
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 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 on Christie's cinema solutions and to find a theatre with Christie DLP Cinema® projectors, visit www.christiedigital.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: AccessIT Press Release
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