Paramount Pictures teams up with Damac in Dubai for hotel development - March 2013

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Paramount Pictures partners with luxury real-estate developers DAMAC in Dubai for 250m-high residential and hotel complex

Paramount Pictures, a name synonymous with glossy Hollywood movies and action-packed thrillers, has announced its first foray into the world of architecture. Partnering with luxury real-estate developers DAMAC Properties and Paramount Hotel & Resorts (the official licensee of Paramount), the company has released details of DAMAC Towers by Paramount, a cluster of four rippling towers in Dubai, joined by a multi-level plaza.

The official announcement of the $1bn scheme was only made yesterday (6 March 2013) but construction is already underway and the immense project is due to complete in 2015. Once realised, the four waving towers will rise over 250m into the sky in the Burj Khalifa area of Dubai, an area popular with international visitors who will soon be able to enjoy unrivalled views of the world’s tallest tower from a glittering new base. In 2012 this particular area welcomed more visitors than New York City at 65 million visitors to NYC’s 52 million.

At the ITB Berlin event yesterday where the official announcement was made, Thomas van Vliet, Chief Executive Officer of Paramount Hotel & Resort, explained: “DAMAC Towers by Paramount will include a series of dynamic and sensory experiences that live up to our mantra of producing hospitality that is unmistakable, unforgettable and consequentially unmissable. The guests in our audience will be led on a journey that delights the eyes and engages the emotions. We are thrilled to be partnering with DAMAC Properties on this mega project and sharing this exciting news today.”

One of the four towers will take the form of a 540-key Paramount Hotel & Residences while the other three will include 1,400 units of DAMAC Maison-Paramount co-branded serviced hotel rooms. Bringing these three volumes together will be a multi-level skybridge encompassing various themed eateries and entertainment venues. There will also be a screening room, wellness & fitness centre, swimming facilities, a kids club and retail outlets for residents and visitors to the hotel. Owners of the Paramount Hotel & Residences units will be able to partake in a rental pool system which allows them to rent out their residences when they are out of town.

DAMAC Properties Managing Director, Ziad El Chaar, said: “The history, glamour and tradition of the movies indirectly transcend every element of the design and ethos of this aspirational project. We will employ the same, tried and tested production process, pioneered by Paramount Pictures at the studio, to direct, design and detail a world-class experience. The Paramount brand stands for more than exceptional film and entertainment: it’s an inviting lifestyle.”

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Damac and Paramount team up for $1bn Dubai hotel - 7th March 2013

Legendary silver screen production company Paramount Pictures has joined forces with real estate giant Damac Properties in an exclusive partnership to bring a US$1bn five start hotel to Dubai.

Due to open at the end of 2015, Damac Towers by Paramount will be based close to the world’s tallest building, Burj Khalifa, and will reportedly feature two aspects – a 540-unit Paramount Hotel & Residences, and 1,400-unit Damac Maison-Paramount co-branded service hotel residences.

Paramount Pictures, part of media conglomerate Viacom, is a 101-year-old film and television production and distribution studio responsible for films including Titanic, Breakfast at Tiffany’s, The Godfather, Raiders of the Lost Ark, Forrest Gump and Braveheart.

Damac Properties managing director Ziad El Chaar said: “The history, glamour and tradition of the movies indirectly transcend every element of the design and ethos of this aspirational project. We will employ the same tried and tested production process, pioneered by Paramount Pictures at the studio, to direct, design and detail a world class experience.

“The Paramount brand stands for more than exceptional film and entertainment: It’s an inviting lifestyle.”

The project will feature four towers, brought together by a multi-level plaza offering a selection of themed food and drink, meeting and events facilities, a screening room, wellness and fitness centre, swimming pool, kids club, retail, and merchandise featuring the Paramount brand or selected partner brands.

Each tower will reach 250 meters in height, one of which will be Paramount Hotel & Residences, while the remaining three will house the Damac Maison-Paramount serviced hotel residences.
Thomas Van Vliet, CEO of Paramount Hotel & Residences (PHR) FZ-LLC, said: “Most people know the famous Paramount Pictures logo, with the mountain and 22 stars, and they also watched many of the iconic movies the studio produced. The hotels, resorts and residences produced by PHR FZ-LLC will be developed using the creative process honed over Paramount’s 100 year history.

“Warm service, design, entertainment, food, beverage and spa concepts will combine magically to mark a new chapter for the brand and to set a rare standard in luxury hospitality.”

He added: “DAMAC Towers by Paramount will include a series of dynamic and sensory experiences that live up to our mantra of producing hospitality that is unmistakable, unforgettable and consequentially unmissable.

“The guests in our audience will be led on a journey that delights the eyes and engages the emotions. We are thrilled to be partnering with Damac Properties on this mega project.”

News

Lionsgate, Universal Pictures, The Walt Disney Company, Warner Bros. Entertainment Inc. and Paramount Pictures Sign on to DCDC Distribution Service Platform

BURBANK, Calif. & LOS ANGELES, Mar 07, 2013 (BUSINESS WIRE) -- The Digital Cinema Distribution Coalition (DCDC) announced today that it has reached agreements with Lionsgate, Universal Pictures, The Walt Disney Company, Warner Bros. Entertainment Inc. and Paramount Pictures to provide each with theatrical digital delivery services across North America. DCDC, formed by AMC Theatres, Regal Entertainment Group, Cinemark Theatres, Universal Pictures and Warner Bros., has created a network for next generation satellite and terrestrial digital distribution capable of supporting feature, promotional, pre-show and live content distribution into theatres using the latest in digital distribution technologies. The network is designed to provide a highly reliable and cost effective distribution model for distributors and exhibitors alike. As digital distribution replaces the use of traditional, physical media for content distribution, users of the network will have access to a host of delivery options and resources.

Speaking on behalf of DCDC, Randolph Blotky stated, "DCDC's service platform is the state of the art for digital delivery of various kinds of content to theatres in North America. Its business model will assure long-term consistent low cost pricing to content providers and exhibitors across the industry. We are very excited to welcome Warner Bros. Entertainment, Lionsgate, The Walt Disney Company, Universal Pictures and Paramount Pictures to our service."

Darcy Antonellis, President, Technical Operations, and Chief Technology Officer, Warner Bros. Entertainment added, "The vision of creating a cross-industry distribution service to benefit distributors, exhibitors, service providers and consumers is becoming a reality. We're extremely pleased to be working with our colleagues to bring to fruition a powerful distribution network that is advantageous for us all."

Nikki Rocco, President, Universal Pictures Distribution, added, "With the majority of the domestic theatrical market now digital, the ability to efficiently distribute films via satellite to a large subset of our exhibitor partners will further ensure moviegoers have access to the latest and highest quality theatrical entertainment. Universal is excited to work with DCDC in the satellite delivery of our films, as it rolls out its satellite platform over the coming months."

"DCDC's new satellite service provides a seamless and secure system that will enable us to streamline and expedite access to our latest content," said Dave Hollis, Executive Vice President, Theatrical Exhibition Sales and Distribution, The Walt Disney Studios. "This is a crucial advancement in theatrical distribution, and we're thrilled to be on board."

"The wide-spread adoption of DCDC's platform is a game-changer," said Dan Fellman, President, Domestic Distribution, Warner Bros. Pictures. "The service ensures that audiences have the most high-quality entertainment experience while exhibitors and content providers achieve a strategic, secure and cost-effective new business model. We are very pleased to join DCDC and our partner studios in this initiative."

"We are pleased that Lionsgate can again be at the forefront of digital cinema and be part of the state of the art digital delivery system that will benefit the entire industry," said Richie Fay, Lionsgate's President of Domestic Theatrical Distribution.

"All of us at Paramount believe the advancement of digital distribution technologies will help to further our goal to bring the finest entertainment to audiences in a seamless and secure manner, and the DCDC will be a great partner for us to achieve that goal," said Megan Colligan, Paramount Pictures' President of Domestic Marketing and Distribution.

"DCDC is creating a technological superhighway," said Tim Warner, CEO and President, Cinemark Theatres. "It's one port access to thousands of screens, for both movies and alternative content, from all content providers."

DCDC is expected to complete the initial network roll-out before year-end. Deluxe/EchoStar LLC will be providing operations support for the DCDC network.

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About Warner Bros. Entertainment:

Warner Bros. Entertainment is a global leader in all forms of entertainment and their related businesses across all current and emerging media and platforms. A Time Warner Company, the fully integrated, broad-based Studio is home to one of the most successful collections of brands in the world and stands at the forefront of every aspect of the entertainment industry from feature film, television and home entertainment production and worldwide distribution to Blu-ray and DVD, digital distribution, animation, comic books, video games, product and brand licensing and broadcasting.

About Universal Pictures:

Universal Pictures is a division of Universal Studios (www.universalstudios.com). Universal Studios is part of NBCUniversal. NBCUniversal is one of the world's leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience. NBCUniversal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group and world-renowned theme parks. Comcast Corporation owns a controlling 51% interest in NBCUniversal, with GE holding a 49% stake.

About The Walt Disney Company:

The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive. Disney is a Dow 30 company and had annual revenues of about $42.3 billion in its last fiscal year.

About Lionsgate:

Lionsgate is a leading global entertainment company with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, new channel platforms and international distribution and sales. Its feature film business has been fueled by such recent successes as the blockbuster first installment of The Hunger Games franchise, the 13th highest-grossing domestic release of all time, The Twilight Saga: Breaking Dawn - Part 2, which has grossed more than $800 million at the worldwide box office, Warm Bodies, Texas Chainsaw 3D, The Expendables 2, The Possession, Sinister, The Cabin in the Woods and Arbitrage. With the January 2012 acquisition of Summit Entertainment, the Company has now added the blockbuster Twilight Saga franchise, which has grossed more than $3.3 billion at the worldwide box office, to its current slate, giving the Company the two premier young adult franchises in the world. The Lionsgate and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world.

About Paramount Pictures Corporation:

Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom VIA +0.75% VIAB +0.85% , a leading content company with prominent and respected film, television and digital entertainment brands. Paramount controls a collection of some of the most powerful brands in filmed entertainment, including Paramount Pictures, Paramount Animation, Paramount Vantage, Paramount Classics, Insurge Pictures, MTV Films, and Nickelodeon Movies. PPC operations also include Paramount Famous Productions, Paramount Home Media Distribution, Paramount Pictures International, Paramount Licensing Inc., and Paramount Studio Group.

SOURCE: Digital Cinema Distribution Coalition