Travis Reid resigns as head of DCIP
Exhibition veteran will become CEO of Screenvision.
Exhibition veteran Travis Reid has resigned as CEO of Digital Cinema Implementation Partners, the group charged with equipping the largest movie-theater circuits with digital-projection systems, to become CEO of Screenvision.
Reid's appointment coincided with Shamrock Capital Growth Fund closing its acquisition of Screenvision, one of the two primary companies (the other is National CineMedia) that puts special events and advertising on movie-theater screens.
Shamrock said last month it would acquire a controlling interest in Screenvision in a deal that valued the entity at $160 million. Carmike Cinemas also took a 20% stake in Screenvision and Technicolor an 18% stake.
Matthew Kearney, who was Screenvision's CEO for eight years, left the company six months ago, and it has been run since then by interim CEO Dave Elliott. Reid becomes CEO on Nov. 1.
DCIP said Thursday that a search for a new CEO is under way. COO Rich Manzione will be in charge in the meantime.
"Travis and our team have brought the organization to a great place and I look forward to continuing our exciting work at DCIP," Manzione said. "I am confident that our strong management team will ensure a seamless transition and continued success with our digital cinema rollout."
DCIP has installed 4,000-plus d-cinema systems in more than 870 theaters domestically and aims to convert more than 15,000 screens in the U.S. and Canada in total to digital projection. DCIP was formed in 2007 by AMC Entertainment, Cinemark and Regal Entertainment Group.
"Travis has done an outstanding job in guiding the formation of DCIP, including the negotiation of studio and vendor agreements, securing financing and managing the initial deployment of DCIP's digital projection systems," AMC chief Gerry Lopez said.
"Digital cinema is an industry transforming technology, allowing us to significantly enhance the use of our auditoriums," Cinemark CEO Alan Stock said. "The deployment of digital projections systems is tracking ahead of its original schedule, thanks to Travis' leadership and the hard work of his executive team."
Regal chief Amy Miles expressed confidence that "DCIP is in a very strong position both operationally and financially."
The DCIP announcement came on the final day of the ShowEast exhibition confab in Orlando.
Carl DiOrio reported from Orlando; Paul Bond reported from Los Angeles.