Arts Alliance Media Signs Deal for €50M Funding

The rollout of digital cinema to exhibitors across Europe received a significant boost today with the announcement that Arts Alliance Media, Europe’s leading digital cinema company, has reached an agreement to secure €50m in funding for its initiative. Funds advised by Sankaty Advisors, the credit affiliate of Bain Capital, have agreed to provide funding to support the rollout over the next two years, subject to final documentation. Sankaty Advisors, which currently manages approximately $20 billion in committed capital, will provide a combination of senior and mezzanine debt for deployment of digital cinema equipment into cinemas across Europe. The deal is expected to close in 30 days.

There are currently about 4,500 digital cinema screens in Europe (approximately 75% of which are 3-D), and that figure is expected to rise rapidly to almost 13,000 by the end of 2012. Arts Alliance Media currently has digital cinema deals in place in seven territories within Europe, and commitments in place for over 1,500 screens which are currently in the process of being installed.

Arts Alliance Media’s goal is to build Europe’s largest digital cinema network. All screens installed by Arts Alliance Media are DCI compliant, and the company’s strategic partnership with Arqiva Satellite & Media allows exhibitors to benefit from satellite delivery of alternative content events and features, as well.

Source: Arts Alliance Media