Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3D motion picture exhibitor, today reported results for the three months ended June 30, 2010, as summarized below.

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"The second quarter was marred by an industry-wide box office decline. While we take no pleasure in experiencing year over year box office declines, we are encouraged that Carmike's per screen attendance and admissions fared at or better than industry averages. We are pleased to report year over year increases in average admissions and concessions per patron. Consumer preference for 3D was strong, representing over 26% of Carmike's total Box Office for the quarter," stated Carmike Cinemas President and Chief Executive Officer David Passman.

"I'm also very pleased to announce the successful debut of Carmike's first large format auditorium, the BigD, with the July opening of Salt, starring Angelina Jolie," he said. "Patrons chose the BigD experience by a multiple of several times over the same movie in other auditoriums. The large format concept includes premium pricing, bigger screens, bigger, more luxurious seating and upgraded surround sound. We are targeting as many as two dozen BigD locations by 2011 year-end and are excited to bring this Ultimate Entertainment Experience to our theatres and loyal cinema-goers across the country."

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"For the past several quarters we have been describing our goal to improve Carmike's performance relative to the industry. Patrons are responding well to the strategy of cleaner and friendlier theatres and more creative pricing and packaging of concessions, as evidenced by attendance per screen and spending per patron relative to industry metrics," added Mr. Passman.

In the aggregate, Carmike's patrons spent an average of $10.36 per visit during the second quarter, up 6.5 percent compared to the same period in 2009. Average admissions increased 6.0 percent to $6.89, with 3-D premiums driving the year-over-year rise. For the second consecutive quarterly period, concessions and other revenue per patron also rose, increasing 7.4 percent to $3.47.

Carmike Chief Financial Officer Richard B. Hare stated, "On the expense side, film exhibition costs declined 80 basis points to 56.8 percent of admissions revenues, versus 57.6 percent in the year-ago period. General and administrative expenses rose to $4.5 million due to increases in salaries and wages, incentive compensation and legal and professional fees. Carmike's other theatre operating costs for the quarter were negatively impacted by a $1 million charge as the result of a sales and use tax assessment primarily for the 2005 and 2006 tax years. Carmike's second quarter results also include a $3.2 million impairment charge related to operating performance of 12 theatres."

Mr. Hare continued, "Quarterly interest expense rose nine percent to $9.8 million due to an increase in interest rates, as well as the recording of interest costs associated with the aforementioned sales and use tax assessment. During the second quarter of 2010, we voluntarily pre-paid another $5 million in bank debt leaving our June 30 bank debt balance at $241.4 million. We have made prepayments totaling $20 million for the first half of 2010."

Mr. Passman commented, "The third quarter has gotten off to a better start industry wide, and we remain optimistic about the second half of the year.

"We have expanded our 3-D screen footprint to nearly 550, representing over 25% of our first run screens and expect to have a total of 600 by the end of September, which should accommodate customer demand and studio release schedules, which seem to be steadily growing with upcoming titles," he concluded.

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Burbank, Calif. -- The mystery and legends of an ancient time will be experienced like never before when Prince of Persia: The Sands of Time arrives on 3-Disc Blu-rayTM Combo Pack (Blu-ray + DVD + Digital Copy), 1-Disc Blu-ray and 1-Disc DVD on September 14, 2010 from Walt Disney Studios Home Entertainment and Jerry Bruckheimer Films.

Prince of Persia: The Sands of Time is the perfect film to experience the cinematic magic of Blu-ray - the pristine 1080p picture and Dolby Digital 5.1 HD surround sound quality enhance the explosive action and special effects - and contains more bonus features than the DVD.

Academy Award® nominee Jake Gyllenhaal (2005, Best Actor in a Supporting Role, Brokeback Mountain), Academy Award® winner Sir Ben Kingsley (1982, Best Actor in a Leading Role, Gandhi), Alfred Molina (Spiderman 2, The Da Vinci Code) and Gemma Arterton (Clash of the Titans, Quantum of Solace) lead the international cast in this epic action-adventure film filled with spectacular visual effects, exotic locales and breathtaking action. Produced by Jerry Bruckheimer (Pirates of the Caribbean Trilogy, National Treasure) and directed by Mike Newell (Harry Potter and the Goblet of Fire), Prince of Persia: The Sands of Time boasts a sandstorm of bonus features that bring viewers deep into the mystical lands of Persia and unlock the secrets behind the scenes of this imaginative and entertaining adventure. The combo-pack exclusive "Sands of Time" feature gives fans control of the Dagger of Time, allowing them to rewind time and uncover behind the scenes magic in over 40 spellbinding segments.

Prince of Persia: The Sands of Time is available in a 3-Disc Blu-ray Combo Pack (Blu-ray + DVD + Digital Copy), 1-Disc Blu-ray, and 1-Disc DVD and Movie Download.

Synopsis:

In the spirit of the Pirates of the Caribbean trilogy, Walt Disney Pictures and Jerry Bruckheimer Films transport you to the mystical lands of Persia for this wildly entertaining, epic action-adventure. It's a race against time when a rogue prince (Jake Gyllenhaal) reluctantly teams up with a rival princess (Gemma Arterton) to safeguard a magical dagger that gives its possessor the power to reverse time and rule the world. Filled with death-defying escapes and unexpected twists at every turn - Prince of Persia: The Sands of Time is a fun-filled adventure that will keep your pulse pounding long after the credits end.

DVD Bonus Feature:

• An Unseen World: Making Prince of Persia - A look behind the scenes on the set of the film.

1-Disc Blu-ray Bonus Feature:

All of above DVD bonus plus

• Deleted Scene - The Banquet: Garsiv Presents Heads

3-Disc Combo Pack Bonus Features:

All of the above DVD and Blu-ray bonus features plus

• CineExplore: The Sands of Time - Take control of the dagger and use it to unlock secrets behind your favorite scenes! Turn back time and uncover over 40 spellbinding segments - including "Walking Up Walls," "Filming in Morocco", and "Ostrich Jockey Tryouts" - with this exclusive interactive feature. Blu-ray puts you in control!


Prince of Persia: The Sands of Time STREET DATE: September 14, 2010

Direct prebook: July 20, 2010
Distributor prebook: August 3, 2010
Suggested retail price: 1-Disc DVD - US: $29.99 Canada: $35.99
1-Disc Blu-ray Disc - US: $39.99 Canada: $44.99
3-Disc BD Combo Pack - US: $44.99 Canada: $51.99
Feature run time: Approx. 116 minutes
Rated: US ‘PG-13'; Canada: 'PG'
Aspect ratio: 1 Disc DVD: 480i / Widescreen 2.40:1
Blu-ray Disc: 1080p High Definition Widescreen
Sound: 1 Disc DVD: Dolby Digital 5.1 English, French, Spanish,
English 2.0 DVS
Subtitles: English SDH, French, Spanish

Blu-ray Disc: English 5.1 DTS-HD Master Audio (48kHz/24-bit), English 2.0 DVS, French 5.1 DTS, French, Spanish Dolby Digital 5.1
Subtitles: English SDH, French, Spanish

 

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Source: Deadline.com

Bruce Willis and Sigourney Weaver have signed on to star in The Cold Light of Day for director Mabrouk El Mekchri (JCVD). The film focuses on a young American man (Henry Cavill) whose family is kidnapped while on vacation in Spain.

Willis is in need of a hit after the dud that was Cop Out, while Weaver is enjoying a rush of roles thanks to her supporting turn in Avatar.

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New York, NY -- Screenvision, the leading innovator in cinema advertising, has partnered with humorist and New Orleans resident Harry Shearer to present the national one-day release of the feature-length documentary The Big Uneasy on August 30.

The Big Uneasy, marking the fifth anniversary of the flooding of New Orleans, follows Shearer as he speaks to insiders who reveal the shocking story of what went wrong during Hurricane Katrina. The documentary touches on important points such as how this disaster could have been prevented, and how some of the same flawed methods responsible for the levee failure during Katrina are being used to rebuild the system expected to protect New Orleans from future peril. These experts include Robert Bea, a renowned engineering professor at the University of California at Berkeley, Ivor van Heerden, formerly of Louisiana State University's Hurricane Center (which has since been shut down), and Maria Garzino, an Army Corps of Engineers whistle blower who was named Public Servant of the Year in 2009.

Screenvision's Programming Services division will make the documentary available to its exhibitor partners on August 30 for a limited, one-day on-screen engagement at more than 125 theaters across the country including the key DMAs of New Orleans, New York, Chicago, San Francisco, Los Angeles and Dallas. The Big Uneasy will be distributed through Screenvision's hi-definition digital network, providing a high quality and cost-effective way to reach the desired locations.

"The Big Uneasy is an incredible documentary that touches the hearts of all Americans and we look forward to working with Mr. Shearer to promote and deliver the film to moviegoers," said Darryl Schaffer, Executive Vice President, Exhibitor Relations, Screenvision.

The Programming Services division was launched in 2007 to enable exhibitors to attract additional audiences during off-peak movie timeframes. Screenvision's exclusive cinema experience with Dr. Wayne Dyer, the "Father of Inspiration" and its release of the independent film "The Lottery" are examples of recent successes coming out of Screenvision's alternative programming division.

"While in London last year, I was watching a webcast of President Obama speaking at a town hall in New Orleans," said Shearer. "He said the damage from Katrina was not just because of a natural disaster, but because the government was not properly prepared and didn't provide an adequate response. Clearly the latter part of his sentence referred to the post-flood answer, meaning that the President was calling the flood itself a ‘natural disaster,' a canard which two independent forensic engineering reports had long since disproved. I decided then that someone should do a feature film about this, and that someone was going to be me."

The Big Uneasy is Shearer's first documentary. He has experienced success over the last twenty years as the voice of numerous characters on The Simpsons and has appeared in such films as This is Spinal Tap, A Mighty Wind, and For Your Consideration. The film is produced by Karen Murphy (Drugstore Cowboy, Best in Show) and Christine O'Malley (Wordplay, I.O.U.S.A.). Cinematography is by Arlene Nelson (A Mighty Wind, The Brothers Warner) and editing by Tom Roche (Unwigged & Unplugged Live).

 

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Source: The Sun

While no official announcement has been made yet, Daniel Day-Lewis is reportedly going to take on the role of Moriarty in director Guy Ritchie's Sherlock Holmes sequel. Day-Lewis has a reputation for only working when he's truly intrigued by a project, so this would be a major win for Ritchie.

The first Sherlock Holmes film raked in more than $500 million worldwide after opening in December 2009.

Day-Lewis has no new projects lined up at this time. He last appeared in Nine for director Rob Marshall.

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