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Cinedigm Digital Cinema Corp. and ICAA Announce Alliance for Australian and New Zealand Digital Cinema Deployment(January 17, 2012)
WOODLAND HILLS, CA -- (Marketwire) -- 01/17/12 -- Cinedigm Digital Cinema Corp. (NASDAQ: CIDM) and ICAA, the Independent Cinemas Association of Australia, jointly announced today an agreement for Cinedigm to become the digital cinema integrator for independent cinemas in Australia and New Zealand.
ICAA signed a Memorandum of Understanding with Cinedigm to provide Virtual Print Fee ("VPF") Contracts, VPF Administration, Theatre Management Systems (TMS) and other support resources, as well as assist ICAA and its members with the deployment of digital systems and service and compliance support services. ICAA will take on a number of local functions as regards the coordination of deployment and service, working with local installers and technical personnel. The arrangement is subject to the negotiation and execution of a definitive agreement between Cinedigm and ICAA and its members.
By signing the agreement, the exhibitors have made a significant commitment towards advancing digital rollout in Australia and New Zealand and will benefit from the incentive provided by the studios through VPF payments; VPF deals remain the main driving force behind digital conversions worldwide.
ICAA President Kieren Dell said that Cinedigm has stepped into the integrator role following the recent decision by Omnilab to withdraw from the provision of integrator services.
"On behalf of ICAA, I would like to thank Omnilab for their hard work in progressing a VPF scheme for independent cinemas in Australia and New Zealand. ICAA welcomes this new partnership with Cinedigm which we believe will deliver substantial benefits for independent cinema operators in Australia and New Zealand," Mr. Dell said.
"We are thrilled to put our experience and expertise to work with ICAA in Australia and New Zealand," said Chris McGurk, Chairman and CEO of Cinedigm. "We look forward to helping the ICAA member exhibitors bring the many benefits of digital cinema, including 3D programming, live sporting and music events and alternative content programming to their current movie-going consumers."
"Representatives from Cinedigm and ICAA have visited all the major studios in Los Angeles over the past week, and all of those studios have embraced Cinedigm as the integrator for ICAA Members. In addition, Cinedigm and ICAA have broadly agreed the key commercial parameters with five of the six major studios, and will continue constructive and regular discussions with all studios in order to finalise deals with them in the coming weeks."
Cinedigm is a leader in providing the services, experience, technology and content critical to transforming movie theaters into digital and networked entertainment centers. The Company partners with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm's digital cinema deployment organization, state of the art distributor and exhibition software, and marketing and distribution platform for alternative content and independent films are a cornerstone of the digital cinema transformation. Cinedigm and Cinedigm Digital Cinema Corp. are trademarks of Cinedigm Digital Cinema Corp. www.cinedigm.com [CIDM-G]
The Independent Cinema Association of Australia (ICAA) is the cinemas association of record for Australian independent cinemas, with memberships ranging from single screens in rural areas through to metropolitan multiplex circuits. ICAA has members in every state and territory in Australia representing nearly 500 screens across 110 cinema locations.
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