Regal to double number of RealD 3-D screens
Beverly Hills movie technology company RealD Inc. is getting a big boost from the nation's largest theater operator.
In an agreement announced Thursday, Regal Entertainment Group said it will double the number of RealD 3-D screens, to 3,000 from 1,500, or about 40% of its 6,698 screens in the U.S. The rollout is expected to be completed by June. Financial terms were not disclosed.
"We continue to see high demand from moviegoers for RealD's premium 3-D viewing experience,'' Amy Miles, chief executive of Regal Entertainment, said in a statement.
RealD's equipment -- adapters that fit onto digital projectors and convert images to stereoscopic viewing -- is licensed to about 9,300 theater screens worldwide.
The company, which had a successful public stock offering last summer, has been expanding rapidly in response to growing demand for 3-D films. Hollywood is releasing about 35 3-D films this year, compared with 22 last year.
RealD shares closed at $25.69, up 76 cents Thursday.
-- Richard Verrier