Travis Reid, the former Loews CEO who lost his exec position when the chain merged with AMC, will stay on to work at National CineMedia, the cinema advertising joint venture of Regal, AMC and Cinemark.
He’ll spearhead an effort to arrange financing that will enable theaters to buy digital cinema equipment. NCM is partnering with JPMorgan to structure its financing plan.
Currently, NCM services 13,000 screens in North America with onscreen ads, with 11,000 of those using the company’s digital content network, which allows ads and features in its pre-show to be centrally controlled.
Company aims for the newly installed equipment to be compliant with the specs developed by the studio-backed Digital Cinema Initiative for feature presentations.
“Travis’ extensive theater operations and film licensing experience coupled with his trusted relationships with the major motion picture studios make him an ideal person to lead the development of a digital cinema business plan for NCM and its founding partners,” NCM chief Kurt Hall said in a statement.
NCM said that Reid will work closely in the effort with its chief operations and technology officer, Tom Galley.
Reid first joined Loews in 1991. After the merger, he serves as a director on the AMC board.