A satellite network launched by a group of studios and theater chains last year just got bigger.
The Digital Cinema Distribution Coalition (DCDC) said it has signed a letter of intent to acquire the Deluxe/EchoStar satellite network, adding nearly 1,000 theater sites, the companies said. No financial details were disclosed.
With the acquisition, the coalition will double the size of its satellite network, which is expected to significantly reduce the cost of delivering movies to theaters and enable it to beam live concerts, operas and sporting events into multiplex venues nationwide.
"The agreement provides an opportunity for DCDC to accelerate the growth of its network in a rational and efficacious manner, while maintaining the terrific working relationship we have with our friends and colleagues at Deluxe/EchoStar," DCDC Chief Executive Randy Blotky said in a statement.
This week, as the Los Angeles Times reported, the network became available on nearly 75% of the screens operated by the nation's top three theater chains.
The Deluxe/Echo joint venture will continue to operate the network, which went live last October and was founded by AMC Theatres, Cinemark and Regal Entertainment, as well as Warner Bros. and Universal Pictures.