Arqiva Forms Partnership with AAM for European Digital Cinema Distribution
[Satellite Today 12-11-08] Arts Alliance Media (AAM) has signed agreements for 43 million euros ($56.4 million) of funding from pan-European services company Econocom and various private investors, together with a long-term strategic partnership agreement with Arqiva Satellite for the satellite distribution of films and alternative content live events into European cinemas, AAM announced Dec. 11.
Econocom will provide financing of 20 million euros ($26.4 million) for the purchase of equipment to complete the Circuit George Raymond‘s (CGR) digital cinema deployment in France. CGR said it has already installed 126 digital screens to date via its virtual print fee-based rollout agreement with AAM and is aiming to complete the digital conversion of 100 percent of the circuit’s 400 screens by Spring 2009.
The additional 23 million euros ($30.3 million) has been raised from private investors and will fund the continued growth of AAM, with particular focus on building up the group’s infrastructure and support network for its European digital cinema deployment business, as well as developing new and emerging revenue streams, AAM said.
The new investors will have a minority shareholding in the AAM group.
"The significant investments and new partnerships with Econocom and Arqiva are a tremendous boost, and strengthen us to forge ahead with building the largest digital cinema delivery network in Europe," said AAM CEO Howard Kiedaisch.