NATIONAL AMUSEMENTS PARTNERS WITH MOVIETICKETS.COM ONLINE TICKETING SERVICE
National Amusements Join Hollywood.com, Inc. and AMC Entertainment Inc. as Equal Partner in MovieTickets.com, Inc.
(Dedham, MA and Boca Raton, FL - March 2, 2000) – Shari E. Redstone, President of National Amusements, the largest privately owned exhibition circuit in the U.S. and Mitchell Rubenstein, Chairman and CEO of Hollywood.com, Inc. (Nasdaq: HOLL) and Peter Brown, Chairman and CEO of AMC Entertainment Inc. (AMEX: AEN), announced today that National Amusements has become an equal partner in the online ticketing service, MovieTickets.com, Inc.
At launch, MovieTickets.com users will be able to purchase tickets for both National Amusements Theatres (Showcase Cinemas and Multiplex Cinemas) as well as AMC Theatres coast to coast, including cities in the top ten major markets. MovieTickets.com, Inc., which was announced February 16, 2000, began as a joint venture between Hollywood.com, Inc. and AMC Entertainment Inc., and now welcomes National Amusements, Inc. as the third partner. MovieTickets.com is open to all exhibitors seeking Internet ticketing.
National Amusements, AMC Entertainment and Hollywood.com will each own a third interest in MovieTickets.com. Management of the venture will be vested in its Board of Directors. Mitchell Rubenstein and Peter Brown will serve as Co-Chairmen with the balance of the Board to include Shari Redstone; Tad Jankowski, VP/General Counsel, National Amusements; Laurie Silvers, President, Hollywood.com, Inc.; and Craig Ramsey, CFO, AMC Entertainment Inc.
"National Amusements has always pioneered innovations in exhibition, from the drive-in, to multi-screen complexes to the destination cinemas of the millennium. Partnering with Hollywood.com in our initial Internet venture is a natural next step for the company. We firmly believe this application of cutting-edge technology will take convenience and ease of purchasing to new levels for our customers and increase attendance," said Shari E. Redstone, President of National Amusements.
"We are proud to welcome National Amusements to the MovieTickets.com charter. The National Amusements circuit, like the AMC circuit, is among the highest-quality theatre circuits in the industry," said Mitchell Rubenstein, Chairman and CEO of Hollywood.com and Co-Chairman of MovieTickets.com. "With theatres in every major market, MovieTickets.com enables moviegoers across the country to spend only a few minutes online rather than standing in line at the box office."
Peter Brown, Chairman and CEO of AMC Entertainment and Co-Chairman of MovieTickets.com said, "This agreement helps to complete the national 'footprint' of MovieTickets.com, so we will be able to serve moviegoers in every major U.S. market."
National Amusements, Inc., based in Dedham, Mass., operates more than 1,350 screens in the United States, United Kingdom and Latin America, under the names Showcase Cinemas and Multiplex Cinemas. The entertainment giant is the parent company of Viacom, Inc., which includes Paramount Communications, MTV Networks, Simon & Schuster, Nickelodeon, Blockbuster Video and other major entertainment properties. The company has a website at www.National-Amusements.com.
By combining the National Amusements and AMC Theatre circuits, MovieTickets.com consists of approximately 4400 screens with approximately 3200 screens being Internet-ready by launch date. Advertising sales will be handled by an experienced sales force made up of representatives from Hollywood.com and National Cinema Network, one of the nation's leading cinema advertising companies. In addition, AMC and National Amusements theatres will promote MovieTickets.com with on-screen and in-lobby marketing programs and through their companies' respective web sites.
In addition to ticket sales, MovieTickets.com will access the rich library of Hollywood.com and its Baseline subsidiary as well as other sources in order to aid users with movie and theatre selections. The site will include additional content such as reviews, trailers, soundtracks, entertainment news, coverage of entertainment events such as film festivals and movie premieres, and a movie merchandise superstore.
The latest technology for maintaining data security and tracking customer visits and purchases will enable MovieTickets.com to serve as a "personal shopper" for customers, recommending movies and products to suit each customer's personal profile. MovieTickets.com owns both the MovieTickets.com and MovieTicket.com URLs to ensure that moviegoers can easily locate the site.
MovieTickets.com is the dedicated Internet site for the sale of movie tickets, with additional content to assist users with their moviegoing plans. The web site is scheduled to launch Memorial Day weekend.
MovieTickets.com, Inc. forward-looking statements
The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. These forward-looking statements generally can be identified as such because the context of the statement include words such as we "believe," "expect," "anticipate" or other words of similar import. Similarly, statements herein that describe our objectives, plans or goals also are forward-looking statements. Potential risks and uncertainties include, but are not limited to; the risks described in Hollywood.com, Inc.'s, AMC Entertainment Inc.'s and National Amusements, Inc.'s filings with the Securities and Exchange Commission.
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