(October 12, 2004 - Burbank, CA & October 13, 2004 - Beijing) - Warner Bros. International Cinemas (WBIC) and Guangzhou Jin Yi Film and Television Investment Co. Ltd. have agreed to form a joint venture project company for the construction of a multiplex theater in Beijing, New Gateway, with WBIC serving as the majority partner. This agreement was announced today in Beijing. New Gateway, a seven-screen, 1,100-seat theater, is slated to open September 2005. WBIC will manage construction and operation of the multiplex. “New Gateway is an important step in our ongoing plan to bring state-of-the-art cinemas to Chinese moviegoers,” said Millard Ochs, President, Warner Bros. International Cinemas. “We believe that by building modern theaters across China, we’re not only serving the audience, but really helping the entire Chinese film industry by fueling the appetite for an excellent movie going experience.” In July 2004, Warner Bros. International Cinemas signed a joint venture with Gaungzhou Jin Yi Film and Television for the construction of six multiplex theaters in Guangdong province. In addition to the Guangzhou joint ventures, WBIC’s other sites in the Chinese market include the Shangying Warner Cinemas, which opened April 2004; the Paradise Warner Cinema in Shanghai (as a minority partner with Shanghai Paradise Co.); and the Warner Wanda Cinemas in Tianjin and Nanning (opened under a management and licensing agreement with the Dalian Wanda Group Co., Ltd.).
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