Carmike Cinemas Inc

Raymond Smith Jr. has been trying for nearly two decades to make the movie industry listen to the needs of the deaf and hard of hearing. This month, the senior executive at Regal Entertainment Group will come closer to his goal. His company, the nation's largest theater chain, will have nearly 6,000 theater screens equipped with closed-captioning glasses that could transform the theatrical experience for millions of deaf and hard-of-hearing patrons who have shunned going to the cinema because previous aids were too clunky or embarrassing to use. PHOTOS: Hollywood Backlot moments The Knoxville, Tenn., chain has invested more than $10 million in the glasses, which were developed by Sony Electronics Inc. Resembling thick sunglasses, the device uses holographic technology to project closed-caption text that appears inside the lenses, synchronized with the dialogue on the screen . The system also includes headphones connected to a wireless receiver, with separate audio channels, which play dialogue or allow visually impaired users to listen to a narration track of the film.

Raymond Smith Jr. has been trying for nearly two decades to make the movie industry listen to the needs of the deaf and hard of hearing. This month, the senior executive at Regal Entertainment Group will come closer to his goal. His company, the nation's largest theater chain, will have nearly 6,000 theater screens equipped with closed-captioning glasses that could transform the theatrical experience for millions of deaf and hard-of-hearing patrons who have shunned going to the cinema because previous aids were too clunky or embarrassing to use. PHOTOS: Hollywood Backlot moments The Knoxville, Tenn., chain has invested more than $10 million in the glasses, which were developed by Sony Electronics Inc. Resembling thick sunglasses, the device uses holographic technology to project closed-caption text that appears inside the lenses, synchronized with the dialogue on the screen . The system also includes headphones connected to a wireless receiver, with separate audio channels, which play dialogue or allow visually impaired users to listen to a narration track of the film.

* Market trends: Microsoft Corp. was the volume leader in Monday's trading. Elsewhere, Carmike Cinemas Inc. announced it has finalized its acquisition of 38 theaters, or 176 screens, from Cinema World Inc., giving the company a total of 1,911 screens in 30 states.

In a big boost for digital cinema, the nation's third-largest theater chain has agreed to install thousands of systems over the next two years. Carmike Cinemas Inc. would become the first theater chain to undertake the mass conversion to digital, putting 2,300 digital projection systems in its auditoriums by October 2007. Carmike has theaters in 37 states but none in California. The deal, valued at more than $150 million, involves software company Access Integrated Technologies Inc.

* Theaters: Carmike Cinemas Inc. said it agreed to acquire 145 screens from Toronto-based Cineplex Odeon Corp. for $22 million in cash, extending its movie house buying binge. The transaction would close the gap between Columbus, Ga.-based Carmike, the second-largest motion picture exhibitor in the United States, and industry leader United Artists Theater Circuit Inc. The purchase would increase the Carmike chain by 7% in time for the busy summer season.

Carmike Cinemas Inc., struggling in the overbuilt U.S. theater market, said Wednesday that its senior lenders blocked an interest payment of about $9 million due to holders of the firm's junk bonds. That sent the stock (CKE) down $1.75 to a record low of $1.50 on the New York Stock Exchange. But the company insisted that it will be able to pay its debt for the next year to 24 months. "We are not currently experiencing liquidity problems," Carmike said.

Carmike Cinemas Inc., the nation's largest movie theater operator, warned that its second-quarter profit will fall well below analysts' forecasts because of the disappointing performance of "Godzilla" and other films. Sony Corp.'s "Godzilla," which opened May 19, was expected to lift the fortunes of the film business after a slow spring, but the $55 million in ticket sales it garnered in its first weekend fell below the $100 million some analysts expected.

Carmike Cinemas Inc., the struggling No. 3 U.S. movie theater chain, filed for Bankruptcy Court protection from creditors less than a week after failing to make $9 million in interest payments to bondholders. The Columbus, Ga.-based chain listed $841.1 million in assets and $652.8 million in debts in its Chapter 11 petition Tuesday in U.S. Bankruptcy Court in Wilmington, Del.

Federated Department Stores Inc. and Nordstrom Inc. reported better-than-expected earnings for the latest quarter even though sales were hurt by consumers' preference for more value-oriented stores. Both department store operators credited better controls over costs for their performance. Cincinnati-based Federated, whose chains include Macy's and Bloomingdale's, said its fiscal third-quarter profit rose 4.8% to $110 million, or 50 cents a share, beating analysts' average estimates by a penny.

Carmike Cinemas Inc., the struggling No. 3 U.S. movie theater chain, filed for Bankruptcy Court protection from creditors less than a week after failing to make $9 million in interest payments to bondholders. The Columbus, Ga.-based chain listed $841.1 million in assets and $652.8 million in debts in its Chapter 11 petition Tuesday in U.S. Bankruptcy Court in Wilmington, Del.

Carmike Cinemas Inc., struggling in the overbuilt U.S. theater market, said Wednesday that its senior lenders blocked an interest payment of about $9 million due to holders of the firm's junk bonds. That sent the stock (CKE) down $1.75 to a record low of $1.50 on the New York Stock Exchange. But the company insisted that it will be able to pay its debt for the next year to 24 months. "We are not currently experiencing liquidity problems," Carmike said.

Federated Department Stores Inc. and Nordstrom Inc. reported better-than-expected earnings for the latest quarter even though sales were hurt by consumers' preference for more value-oriented stores. Both department store operators credited better controls over costs for their performance. Cincinnati-based Federated, whose chains include Macy's and Bloomingdale's, said its fiscal third-quarter profit rose 4.8% to $110 million, or 50 cents a share, beating analysts' average estimates by a penny.

Carmike Cinemas Inc., the nation's largest movie theater operator, warned that its second-quarter profit will fall well below analysts' forecasts because of the disappointing performance of "Godzilla" and other films. Sony Corp.'s "Godzilla," which opened May 19, was expected to lift the fortunes of the film business after a slow spring, but the $55 million in ticket sales it garnered in its first weekend fell below the $100 million some analysts expected.

* Theaters: Carmike Cinemas Inc. said it agreed to acquire 145 screens from Toronto-based Cineplex Odeon Corp. for $22 million in cash, extending its movie house buying binge. The transaction would close the gap between Columbus, Ga.-based Carmike, the second-largest motion picture exhibitor in the United States, and industry leader United Artists Theater Circuit Inc. The purchase would increase the Carmike chain by 7% in time for the busy summer season.

Digital Theater Systems, a Westlake Village-based supplier of digital sound systems for movie theaters, will provide theater-chain giant Carmike Cinemas with 300 DTS sound units under a far-reaching agreement announced by the two companies. Terms of the deal were not disclosed. Carmike will buy 300 of the digital sound systems, to be installed immediately.

The movie heroes for theater operator Michael W. Patrick aren't in Hollywood or New York, but in places like Rapid City, S.D., and Hopkinsville, Ky. Moviegoers there have helped Patrick's Carmike Cinemas Inc. grow big by thinking small, as in small town. The Columbus-based company shuns the big cities, preferring to build and acquire theaters only in the so-called secondary markets.

* Market trends: Microsoft Corp. was the volume leader in Monday's trading. Elsewhere, Carmike Cinemas Inc. announced it has finalized its acquisition of 38 theaters, or 176 screens, from Cinema World Inc., giving the company a total of 1,911 screens in 30 states.