Sperling Reich was tabbed to head the DBS project and has done an amazing job of developing a system that is totally relevant to the ever evolving digital environment of exhibitors and distributors. DBS CTO, Luan Le headed the programming efforts.
Agoura Hills, CA (PRWEB) March 15, 2006
DTS, Inc. (Nasdaq:DTSI) announced today that it has entered into an agreement with FilmStew International, Inc., a Hollywood-based provider of online news and reviews for the motion picture industry, to acquire the assets of Digital Booking Systems (DBS), which provides a web-based application enabling the booking and scheduling of motion pictures for theatrical exhibition.
Created by FilmStew, DBS is the only Application Service Provider (ASP) that enables exhibitors and distributors to communicate through the Internet by accelerating the process of booking playdates, scheduling showtimes, programming trailers, tracking data and facilitating film rental payments. Uniting geographically scattered organizations and allowing them to function as a single cohesive business unit, the functionality of the application has been carefully designed to accurately model standard practices in the exhibition industry. Critical business information can be shared between internal systems and third-party enterprise systems, which allows individual theaters and circuit owners to instantaneously audit general ledger and box office accounts, calculate film settlements and payables, and keep track of accruals. Distributors of all sizes can also utilize the system, allowing their sales reps to solicit theater bookings, request trailer placement and immediately respond to playdate requests from exhibitors. A continuously updated database provides a ready reference to subscribers of available content and release schedules including one-sheets, publicity photos, trailers and summary information that expedites the decision-making process for film buyers.
DBS is a wholly owned asset of FilmStew.com. According to J. Sperling Reich, FilmStew.com Founding Director and President of Digital Booking Systems: "By leveraging the Internet, DBS has been able to combine innovative technology and pioneering business solutions into an economic, feature rich application with an intuitive end user experience. We've proven it can easily be integrated and deployed wherever an organization has offices or theaters. For some time now we have been looking for a way to expand our business and we are extremely excited about the opportunity to work with DTS in making our application more broadly available to the global exhibition and distribution market.
"This strategic acquisition represents DTS' continuing expansion of our products and services for an increasingly digital, software-based cinema industry," says Don Bird, Senior Vice President, Cinema Division at DTS. "The integration of DBS' services to DTS' Cinema division portfolio extends our company's commitment to delivering tools and products that expedite workflow for cinema exhibitors, distributors, as well as studios. Our two companies will work closely together to ensure a seamless transition of service for existing customers, while working to incorporate the DBS capabilities as part of our DTS Cinema Media Network(TM)."
About DTS Cinema Division
DTS, the leading digital sound company, is now a leading digital entertainment company, with emergent capabilities and resources to integrate and support a fully digital experience for high-quality cinema presentation.
DTS' expanded range of products and services are founded upon our proven expertise in the creation and delivery of digital media for cinema, and have been developed to meet the opportunities and challenges of the industry transition to a digital entertainment platform. Our content creation and delivery tools for D-cinema and E-cinema, and media network systems offer new standards of quality and ease of operation. These tools and systems are designed to define and support new opportunities for increased revenues and efficiencies for content providers and exhibitors.
Alongside the existing advantages of DTS' single print solution for cinema sound, we provide an extended portfolio of products and services that allow flexibility and easy implementation of the latest delivery, scheduling and presentation solutions for pre-show, advertising and alternative content.
DTS continues its relentless commitment to partnering with exhibitors in providing value-added products and support in the transition from film to a fully digital entertainment experience.
About FilmStew International Inc.
FilmStew International Inc., through its Internet property FilmStew.com, is a leading provider of news, information resources and web based applications covering the film and television industries. The company's unique collection of consumer and industry-specific businesses has an established history of developing unique and appealing consumer content, as well as wide-ranging industry specific resources and software applications. FilmStew's award winning content attracts hundreds of thousands of readers each month from around the world. FilmStew.com houses such resources as Project Tracker, a film development and production database; Contact Directory, a database with phone and address listings for thousands of industry professionals that enables users to research who represents specific talent. Applications FilmStew has developed include Digital Booking Systems (DBS), an online film management tool that facilitates communication between motion picture exhibitors and distributors. FilmStew was founded in 1999 and is headquartered in Hollywood, California. John Culton is FilmStew's Chairman and co-founder.
About Digital Booking Systems
DBS was developed by FilmStew.com, one of the world's foremost entertainment sites, to help the communication between exhibitors and distributors in a digital world. According to FilmStew.com spokesman, Rob Edenzon, "Sperling Reich was tabbed to head the DBS project and has done an amazing job of developing a system that is totally relevant to the ever evolving digital environment of exhibitors and distributors. DBS CTO, Luan Le headed the programming efforts." Presently, DBS is the only Application Service Provider (ASP) that enables exhibitors and distributors to communicate through the Internet.
DTS, Inc. (NASDAQ:DTSI) is a digital technology company dedicated to delivering the ultimate entertainment experience. DTS decoders are in virtually every major brand of 5.1-channel surround processor, and there are hundreds of millions of DTS-licensed consumer electronics products available worldwide. A pioneer in multi-channel audio, DTS technology is in home theatre, car audio, PC and game console products, as well as DVD-Video, Surround Music and DVD-ROM software. DTS audio products are featured on more than 27,000 motion picture screens worldwide. Additionally, DTS provides imaging technology and services for the motion picture industry; DTS Digital Images, formerly Lowry Digital Images, is a wholly-owned subsidiary of DTS and an industry leader in image restoration and enhancement. Founded in 1993, DTS is headquartered in Agoura Hills, California and has offices in the United Kingdom, France, Italy, Canada, Hong Kong, Japan and China. For further information, please visit http://www.dts.com.
DTS is a registered trademark of DTS, Inc.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause DTS' results to differ materially from historical results or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. These statements may include, among others, plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or financial or operating performance; statements of belief and any statements of assumptions underlying any of the foregoing. The potential risks and uncertainties that could cause actual growth and results to differ materially include, but are not limited to, the rapidly changing and competitive nature of the digital audio, consumer electronics and entertainment markets, the company's inclusion in or exclusion from governmental and industry standards, customer acceptance of the company's technology, products, services and pricing, risks related to ownership and enforcement of intellectual property, the continued release and availability of entertainment content containing DTS audio soundtracks, changes in domestic and international market and political conditions, risks related to integrating acquisitions and other risks and uncertainties more fully described in DTS' public filings with the Securities and Exchange Commission, available at http://www.sec.gov. DTS assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.
# # #