London - Arts Alliance Media (AAM), a European provider of digital cinema technology, announced on Thursday that it has secured $57.4 million in new financing to support its deployment of digital cinema projection systems in Europe.

Econocom Financial Services provided $26.7 million of the financing, which will be used to purchase equipment to complete CGR Cinemas' 400-screen digital cinema deployment in France.

The additional $30.7 million was raised from private investors, who will retain a minority shareholding in AAM; those funds will go towards continued growth of AAM, with a focus on building up the infrastructure and support network of its European cinema business, and to develop new revenue streams.

AAM also announced a partnership with Arqiva Satellite & Media, for the satellite distribution of films and alternative content live events into European cinemas.

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