Tuesday, Cineworld Group Plc (CINE.L) said its joint venture screen advertising company, Digital Cinema Media Ltd., or DCM, has entered into a contract with Vue Entertainment Ltd. for the provision of services in respect of on screen advertising. Cineworld Group is UK's quoted cinema group.
The contract, which covers all Vue Cinemas throughout UK, will be effective from January 1, 2011 when the existing arrangements that Vue has in place regarding cinema screen advertising expire, noted Cineworld.
Steve Wiener, chief executive officer of Cineworld, commented, "Today's news is an exciting development for DCM: we anticipate DCM benefiting from economies of scale over the mid to long term. DCM is driving innovation within the UK cinema advertising sector and this contract will reinforce the Group's reputation within the industry."
On LSE, CINE.L is currently trading at 197.50 pence, up 6.50 pence or 3.40%.
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