According to Bloomberg, major theatre companies are nearing a monumental $1 billion agreement with Hollywood studios to equip theaters to show digital movies.

The deal, which is being negotiated between Digital Cinema Implementation Partners and the studios, would helps its members, Regal Entertainment Group, AMC Entertainment Holdings Inc. and Cinemark Holdings Inc., equip more than 14,000 theatres in the U.S. and Canada with the technology necessary to move forward with the digital transition.