Cinemark Announces New 14-Screen Theatre in Ft. Worth, Texas
Multiplex Will Feature the New Cinemark NextGen Cinema Concept
PLANO, Texas--(BUSINESS WIRE)-- Cinemark Holdings, Inc. (NYSE: CNK), one of the world's largest motion picture exhibitors, announced plans to construct a 14-screen, all-digital movie theatre that will feature the company's new Cinemark NextGen design concept. Cinemark has entered into an agreement to purchase 10 acres in Presidio Junction, a 300-acre master planned mixed-use development of LNR Property LLC, located 8 miles north of Downtown Fort Worth at the intersections of I-35W, SH 287, and North Tarrant Parkway.
Long recognized as a pioneer in the theatrical exhibition industry, Cinemark is taking the cinema entertainment experience to the next level. Slated to open just in time for the 2012 summer blockbuster season, the new Cinemark NextGen theatre will offer the latest technology, cutting edge amenities and customer-preferred options all under one roof. All of the stadium-seated auditoriums will offer a state-of-the-art viewing environment with wall-to-wall screens, 100% digital projection and enhanced sound systems equipped with higher quality speakers and 7.1 capable digital surround sound. Additionally, this theatre complex will contain an extremely popular Cinemark XD Extreme Digital Cinema auditorium. Finally, the lobby will be designed around one of Cinemark's innovative self-serve concession stands offering freshly-popped popcorn, Coca-Cola fountain beverages and favorite candy brands.
The new Cinemark XD Extreme Digital Cinema auditorium will be the fourth in the Dallas area. The XD auditorium is the largest in the theatre complex and offers a complete entertainment environment featuring a wall-to-wall and ceiling-to-floor screen, plush seating and a custom JBL sound system with higher end components and 7.1 capable digital surround sound. The digital images will be delivered by a Doremi server and a Barco DLP digital projector. The XD auditorium will exhibit the newest movies every week, including 2D and Real D-3D pictures.
"Cinemark currently operates nineteen theatres in the Dallas Ft-Worth Metroplex," states Alan Stock, Cinemark's Chief Executive Officer. "We are thrilled to construct a new Cinemark NextGen movie theatre for our customers in Ft. Worth. The state-of-the-art design represents the next generation in cinema. We have created an entertainment environment that offers technologically advanced amenities and a movie-watching experience that simply cannot be duplicated. This new complex will be a great addition to the highly anticipated Presidio Junction development. With the infrastructure already in place, we can move very quickly to achieve an opening next summer."
"LNR is excited that Cinemark has chosen Presidio Junction as the location for their new 14-screen cinema. Presidio and LNR are dedicated to providing a high quality experience to its customers. We feel that Cinemark and their new XD auditorium will be extremely well received and an amenity to the entire north Fort Worth community," states Ken Kristofek LNR Property, LLC's President, South West Region. "Cinemark's project will kick off Presidio Junction's entertainment portion of the development which will include other entertainment destinations together with sit down restaurants. Cinemark helps us deliver on Presidio Junction's theme: Meeting Real Needs for Real People."
Negotiations were handled by Marc Marrocco, Brian Glaser and Herb Weitzman with The Weitzman Group and Jay Jostrand of Graco. Marrocco said, "The theater will be an immediate build and key to the momentum going forward for the Presidio Junction project. We are in negotiations with numerous other junior anchors and restaurants at this time."
Cinemark will also feature online "Print at Home" ticketing, available at www.cinemark.com, that will make it easy for patrons to purchase tickets in advance from the comfort of their home or office. Customers will be able to bypass lines at the box office and go directly to a kiosk in the theatre lobby. In addition, customers can sign up online to receive free weekly showtime emails.
About Cinemark Holdings, Inc.
Cinemark is a leading domestic and international motion picture exhibitor, operating 430 theatres with 4,945 screens in 39 U.S. states, Brazil, Mexico and 11 other Latin American countries as of December 31, 2010. For more information go to www.cinemark.com.
About LNR Property LLC
LNR Property LLC is a national leader in commercial real estate, with established expertise in the development, management and servicing of commercial real estate assets, secured real estate loans and commercial loan pools. LNR's Commercial Property Group is focused on creating value by acquiring, developing, repositioning, managing and selling interests in commercial and multi-family real estate, including land. LNR has developed millions of square feet of all types of commercial and mixed use properties across the United States. From 1997-2005, LNR was a publicly traded (NYSE: LNR) company and is now privately held. LNR is headquartered in Miami Beach, Florida and has approximately 550 associates across numerous offices located throughout the U.S. and in Europe. For more information on the LNR Commercial Property Group, please visit us at www.LNRcpg.com.
Source: Cinemark Holdings, Inc.
Released March 29, 2011