Cineplex Inc.
TSX : CGX

Cineplex Inc.
Empire Theatres Limited

Empire Theatres Limited
Canadian Digital Cinema Partnership

April 14, 2011 07:39 ET

Cineplex Entertainment and Empire Theatres Create New Partnership to Manage the Conversion to Digital Cinema

TORONTO, ONTARIO--(Marketwire - April 14, 2011) - Cineplex Entertainment (TSX:CGX) and Empire Theatres Limited jointly announce the formation of Canadian Digital Cinema Partnership ("CDCP") – to plan and implement the deployment of digital projection equipment in the two partner's theatres. The plan will include procuring equipment, arranging financing and securing digital deployment agreements with studios and other content providers.

Cineplex Entertainment and Empire Theatres Limited have appointed Blackstone Advisory Partners L.P. ("Blackstone") as their financial and structuring advisor for CDCP. Blackstone will assist CDCP with the evaluation and development of a financing plan to convert its more than 1,600 35mm projectors to digital projection systems. The Bank of Nova Scotia will act as Lead Arranger for CDCP's financing.

Digital Cinema Implementation Partners, LLC ("DCIP") has agreed in principle to provide administrative services and system support to CDCP in connection with its digital deployment in Canada. DCIP has itself deployed more than 7,000 digital projection systems to theatres in the United States and Canada during the past year.

CDCP is also pleased to announce that it has entered into long-term digital deployment agreements with three studios including Twentieth Century Fox and Warner Brothers Entertainment for CDCP's deployment of digital projection systems. CDCP continues its discussions with other major US and Canadian distributors with additional announcements expected soon.

About Canadian Digital Cinema Partnership:

Canadian Digital Cinema Partnership ("CDCP") is a joint venture owned by Toronto, Ontario headquartered Cineplex Entertainment LP, and New Glasgow, Nova Scotia based Empire Theatres Limited. CDCP represents more than 1,600 screens operating across Canada from coast to coast. Formed in 2011, CDCP will plan and implement the deployment of digital cinema during the transition from film to digital technology.

About Empire Theatres Limited:

Empire Theatres Limited is a Canada-wide film exhibition company providing an exciting out-of-home entertainment experience including traditional film exhibition as well as other content using its digital and satellite capabilities.

Empire Theatres Limited is a 100% owned subsidiary of Empire Company Limited that owns and operates 50 theatres across Canada with 386 screens, including one IMAX theatre in Halifax, NS.

The Empire Theatres Limited corporate headquarters are located in New Glasgow, NS, with regional offices in Halifax, NS; Toronto, ON; and Calgary, AB. With approximately 2,500 employees, Empire Theatres provides excellent employment opportunities for the youth of Canada in an exciting and energetic industry. For more information, visit www.empiretheatres.com.

About Cineplex:

Cineplex Inc. ("Cineplex") is the largest motion picture exhibitor in Canada and owns, leases or has a joint-venture interest in 131 theatres with 1,360 screens serving approximately 70 million guests annually. Headquartered in Toronto, Canada, Cineplex operates theatres from British Columbia to Quebec and is the exclusive provider of UltraAVX™ and the largest exhibitor of digital, 3D and IMAX projection technologies in the country. Proudly Canadian and with a workforce of approximately 10,000 employees, the company operates the following top tier brands: Cineplex Odeon, Galaxy, Famous Players, Colossus, Coliseum, SilverCity, Cinema City and Scotiabank Theatres. Cineplex shares trade on the Toronto Stock Exchange (TSX) under the symbol "CGX". For more information, visit www.cineplex.com.

About Digital Cinema Implementation Partners

Digital Cinema Implementation Partners, LLC is a joint venture owned equally by U.S. exhibition industry leaders AMC Entertainment Inc., Cinemark Holdings, Inc. and Regal Entertainment Group, representing more than 15,000 screens in the United States and Canada. Formed in February 2007 to facilitate the roll-out of a digital cinema infrastructure in the United States and Canada, the company is headquartered in Mahwah, N.J. with offices in Minneapolis and Denver.

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