National CineMedia, a joint venture of AMC Entertainment, Regal Entertainment and Cinemark to sell in-theater advertising, has filed for an initial public offering.
NCM filed its registration statement with the Securities and Exchange Commission on Thursday. It did not specify how much stock it plans to sell to investors but said proceeds would go to the three exhib chains. NCM would become the sole manager of the company.
Initially founded as a way to sell onscreen blurbs across the three chains, NCM also distributes alternative programming like concerts and sporting events, rents auditoriums for meetings and events and is spear-heading a financing structure to allow theaters to finance the installation of digital cinema projection systems.
Book-running managers for the IPO are Credit Suisse, JPMorgan, Lehman Brothers and Morgan Stanley.