Written by David Lewis on Dec 11, 2008. Posted in Incentive News

Arts Alliance Media secures EUR43 million

Arts Alliance Media (AAM), Europe’s leading provider of digital cinema technology, deployment and content, has signed agreements for EUR43 million of funding from pan-European services company Econocom and other private investors. It has also set up a long term strategic partnership with Arqiva Satellite & Media for the satellite distribution of films.

Econocom will provide EUR20 million for the purchase of equipment to complete AAM's digital cinema deployment in France, through CGR Cinémas. The additional EUR23 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.

Howard Kiedaisch, AAM’s Chief Executive Officer said, “We are delighted to announce this fantastic news, especially in today’s challenging economic climate."

Widespread commercial digital cinema rollout across Europe will enable exhibitors, distributors and the entertainment industry at large to reap the substantial benefits of digital cinema which includes consistently high quality non-degradable prints.