After the scenes are color corrected, the film is transferred into a digital signal and recorded. Electronic Cinema would be no exception. A colorist would be required here also. As a matter of fact, the only difference is that the film would be observed on a large screen not some small CRT type of monitor. Because of the CRT's phosphores, CRT's cannot display as much color as the film image contains.
New projectors can display as much color as the film has.
HDTV has reduced resolution in the color. Equal resolution color is a must for big wide-screens, something HDTV cannot deliver. Lately, a new person has been added to the list. That person not only optimized the color but also the compression. The main reason for the need of the compressionist is that today films are destined for bandwidth-limited systems.