Cinemark Celebrates 20 Years of Operations in Latin America
PLANO, Texas--(BUSINESS WIRE)-- Cinemark Holdings, Inc. (“Cinemark”) (NYSE: CNK), one of the largest motion picture exhibitors in the world, today announced the 20 year anniversary and celebration of their first theatre in Latin America, located in the Plaza Vespucio Mall in Santiago, Chile.
“Our international operations have grown exponentially in the past 20 years from one theatre and 6 screens in 1993 to 172 theatres and 1,360 screens today in 13 Latin American countries. It’s been incredible watching the international operations and personnel flourish and I am honored to have been a part of the journey from the beginning,” commented Tim Warner, Cinemark’s Chief Executive Officer. “Our international segment currently generates approximately 30% of our worldwide revenues and Adjusted EBITDA. We continue to grow and expand throughout South and Central America, maximizing shareholder value through our high-quality, modern theatre circuit in markets with immense screen growth opportunity.”
“We are proud to celebrate this 20 year milestone and reflect on our international operations’ growth and innovation, including digital projectors, 3D technology, our XD Premium Large Format, and D-Box,” Valmir Fernandes, Cinemark’s President of International stated. “We opened our first theatre in Plaza Vespucio with the release of Jurassic Park and commemorate our 20 year anniversary with the 3D re-release of Jurassic Park.”
About Cinemark Holdings, Inc.:
Cinemark is a leading domestic and international motion picture exhibitor, operating 504 theatres with 5,794 screens in 40 U.S. states, Brazil, Mexico, Argentina and 10 other Latin American countries as of June 30, 2013. For more information, go to investors.cinemark.com.
Forward-looking Statements
Certain matters within this press release include “forward–looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. For a description of these factors, please review the “Risk Factors” section or other sections in the Company’s Annual Report on Form 10-K filed February 28, 2013 and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by such risk factors.
Cinemark Holdings, Inc.
Investor Contact:
Chanda
Brashears, 972-665-1500
Investor Relations Manager
investors@cinemark.com
or
Media
Contact:
James Meredith, 972-665-1680
VP Marketing
communications@cinemark.com
Source: Cinemark Holdings, Inc.
Released September 9, 2013