CINEASIA, Hong Kong -- GDC Technology ("GDC"), a world leading digital cinema solution provider, is pleased to announce today the signing of a digital cinema server contract with Shandong Luxin Cinema ("Luxin Cinema"), adding a new member to its ever expanding customer base in China. Installation has begun in September and it is expected to be completed by 2011, involving a total of 120 units of GDC SX-2001A digital cinema server. Luxin Cinema has opted to use exclusively GDC servers for its digital conversion and new builds.

Luxin Cinema was founded in Jinan, Shandong Province on June 1, 2007; and subsequently, on September 1 the same year, its first modern cinema in Shandong - The Provincial Sport Center Cinema, was opened for business. Luxin Cinema has since swiftly emerged as a premier cinema chain operator across China, committed to offering moviegoers the best cinematic experience in the comforts of a modern cinema equipped with the latest digital cinema technology. Luxin Cinema's current business strategy is to identify key locations within the Shandong province and progressively build up its network of cinemas within the province, with the ultimate goal of becoming the leading cinema chain in Shandong. Luxin Cinema has also started work to build cinema complexes in Beijing, Chengdu, Xian, as well as Tianjin, and aims to build itself up as a well known national brand of strong Shandong cultural heritage and influence. It is expected that by 2015, Luxin Cinema will have around 70 multiplexes nationwide.
"This is the first time we venture into digital conversion for our entire chain of cinemas. After carrying out rigorous tests on similar products in the market, we found that GDC's digital cinema server really stands out in its quality, performance, and user friendliness. We are convinced that GDC server is what we have been looking for, a quality product incorporating the best digital cinema technology," said Mr. Liu Wenjun, CTO of Luxin Cinema. "With its superior technological edge and vast experience in digital cinema, GDC is a clear leader in the market and a well trusted brand. We believe GDC is our best working partner to map out our digital strategy and ultimately help Luxin Cinema realize its goal to become a Shandong-based nationwide premier cinema circuit."

"GDC is delighted to win Luxin Cinema's exclusive contract," said Dr Man-Nang Chong, founder and CEO of GDC Technology. "GDC's hard work and dedication to providing quality products and services have begun to pay off in the growing digital cinema market. We continue to strive for better services and more advance digital cinema technology for our growing list of customers."

 

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blackswan.pngEven though it will be playing at less than 100 locations this coming weekend, Black Swan is responsible for an impressive 11% of daily sales as of 4 p.m. PT on Fandango.com.

Black Swan should have no problem cracking into the top 10 this weekend. Boxoffice.com is currently predicting $3 million during its sophomore frame.

The latest effort from director Darren Aronofsky set a location average record for Fox Searchlight last weekend by raking in $1.4 million from 18 locations$80,212 per engagement. That's quite impressive considering that Fox Searchlight has released Slumdog Millionaire, Juno and whole slew of successful arthouse flicks.

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The official release:

LOS ANGELES - The Classification and Rating Appeals Board today overturned the NC-17 rating given to the movie Blue Valentine. The Classification and Rating Administration (CARA) had assigned the movie the NC-17 rating for "a scene of explicit sexual content." The film is now rated R, on appeal, for "strong graphic sexual content, language, and a beating."

In the appeal brought by the Weinstein Company, the Appeals Board heard statements on behalf of Blue Valentine from Harvey Weinstein, Co-Chairman of the Weinstein Company, and Alan Friedman, Counsel to the Weinstein Company. The Classification and Rating Administration was represented by Chairman Joan Graves.

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NEW YORK/ATLANTA/BIRMINGHAM -- EFA Partners, an entertainment financial advisory firm focused on providing financing solutions for movie exhibitors, announced that it led and advised the recently closed financing facility for Cobb Theatres, a progressive motion pictures exhibitor operating 210 screens at 17 locations throughout the Southeastern United States. The proceeds from the financing were utilized for Cobb's digital cinema conversion, refinancing existing debt and growth capital for future acquisitions.

"We were very impressed with EFA as their financial experience with film exhibition and digital cinema allowed them to lead our financing effort from start to finish," said Bobby Cobb, President and CEO of Cobb Theatres. "With Cobb having a tradition of innovative entertainment, our patrons will see immediate benefits from this financing as we continue our conversion to digital and, in addition, the facility provides capital for our long term growth objectives."

EFA's principals have over 20 years of collective experience in film exhibition finance and have deep relationships within the banking and leasing communities. This allowed them to procure numerous proposals for the Cobb financing and provide appropriate recommendations. In addition, the EFA team assisted with the negotiation of all credit documentation as well as agreements related to digital cinema.

 

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