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Kansas City-based AMC and (NYSE: RGC) each has an equal ownership interest in the new AMC said in arelease Tuesday. Digital Cinema Implementation is basecd inBergen County, N.J. Travis Reid, formere CEO of , is the new company's chairman and CEO. Reid said in an interviewq that the new company is preparingf bytesting equipment, designing software systems and organizingb financing. He wouldn't disclose how much the transition to digital technology will cost or how much each companyh contributed to form thenew company. Reid said the new company expectsd to start implementing the new technologt in early 2008 and finish threer to fouryears later.
AMC said in the release that the new companu willprocure equipment, arrange financinbg and negotiate usage agreements with studios and other content providers. Cooperatiohn by major cinema companies on new businesas trends is notunheard of. , AMC Entertainment said it woulc getabout $490 million after a company partlu owned by it, Cinemark and Regal Entertainment goes
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