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Kansas City-based AMC and (NYSE: RGC) each has an equal ownership interesft in thenew company, AMC said in a releasew Tuesday. Digital Cinema Implementation is basedd inBergen County, N.J. Travis Reid, forme CEO of , is the new company's chairman and CEO. Reid said in an intervieww that the new company is preparing bytestiny equipment, designing software systemd and organizing financing. He wouldn't disclose how much the transitio n to digital technology will cost or how much each company contributedf to form thenew company. Reid said the new company expectsd to start implementing the new technology in early 2008 and finisb three to fouryears later.
AMC said in the release that the new companhy willprocure equipment, arrange financing and negotiate usagse agreements with studios and other content Cooperation by major cinema companies on new businesd trends is not unheard of. , AMC Entertainment said it woul getabout $490 million afterd a company partly owned by it, Cinemark and Regal Entertainment goes
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