In a significant breakthrough, the major film studios say they are willing to subsidize, at least in part, the transition to digital cinema through an independent financing entity yet to be created.

LAS VEGAS (Hollywood Reporter)--In a significant breakthrough, the major film studios say they are willing to subsidize, at least in part, the transition to digital cinema through an independent financing entity yet to be created.

Speaking to theater owners at ShoWest last Thursday, Charles Goldwater, CEO of Digital Cinema Initiatives-the seven-studio coalition created to address the transition to digital-proposed launching a financing entity that would create a pool of capital for the entity to then administer as subsidies to theater owners.

Theater owners in turn would use the subsidies to buy the equipment needed to outfit their theaters digitally.