National CineMedia, Inc. (NCM, Inc.) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). NCM LLC operates in the digital in-theatre media network in North America, through which it sells in-theatre and online advertising, promotions and Fathom Events. The Company’s advertising pre-show called FirstLook, lobby entertainment network (LEN), programming and Fathom Events are distributed across its digital content network (DCN) or live digital broadcast network (DBN), utilizing its digital content software (DCS). NCM, Inc. has no business operations or material assets other than its ownership interest in NCM LLC. NCM LLC derives revenue principally from Advertising. The Company develops, produces, sells and distributes several versions of FirstLook on theatre screens, and advertising programming on its LEN.