AccessIT Hopes to Digitize Another 10,000 Movie Screens
Few people understand AccessIT's approach to raising money for digital cinema conversions, and the company's stock has been slipping all year... but the New Jersey company has just announced that it hopes to digitize another 10,000 movie screens, starting next year. So far, AccessIT has installed digital cinema gear in 3,750 screens, in what it dubs "Phase I."
The company anticipates that doing the next 10,000 will take about three years.
The company anticipates that doing the next 10,000 will take about three years.
Labels: AccessIT, digital cinema
posted by Scott Kirsner at
9:06 AM
2 Comments:
I spoke to AccessIT briefly yesterday, and was told that they don't yet have financing in place for these additional screens.
It'll be interesting to see how long it takes them to get started, and what projectors they ultimately end up using for this roll-out.
-Steve
http://www.drinkmepictures.com/
By
Steve, at 12:23 AM
I was a bit suprised by this announcement. While they have been promising a wider rollout for some time, I think this press release was an attempt to try to prop up the stock price, which is down about 66% since August after their financial results for the quarter. Results appear to be tough - lots of debt servicing starting now for their previous CapEx. Unless things improve dramatically, I think that they will be taken over by some bigger player (Thompson, Dolby, etc.) within 6 months.
Not sure how they are going to pull off an additional 10k installs.
By
Chris Dodge, at 3:15 PM
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