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Cinedigm Signs Content Licensing Deal With PRIMA CinemaCinedigm to Provide PRIMA Cinema With Independent Films and Specialty Content for New Theatrical Release "Premium Home Theater" Licensing (May 23, 2012)
LOS ANGELES, CA -- (Marketwire) -- 05/23/12 -- Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in digital cinema, today announced it has agreed to license content to PRIMA Cinema, Inc., an exclusive film distribution company offering highly secure delivery of theatrical release movies to private home theater systems.
Cinedigm is the first independent digital entertainment studio and, with the recent acquisition of New Video, the largest worldwide digital aggregator of independent content and a leading distributor of quality entertainment. The New Video acquisition has enabled Cinedigm to acquire and distribute independent films and specialty content both theatrically and through digital, mobile and home media platforms. PRIMA Cinema, Inc. is the creator of the exclusive "Premium Home Theater" experience offering highly secure digital delivery of theatrical release movies and premium specialty content to private home theater systems.
Approved by the major Hollywood movie studios, PRIMA's proprietary security system utilizes advances in technology to provide one of the most secure consumer systems on the market today. The hardware is designed by BMW Designworks and will deliver "better than Blu-ray" image quality plus offering 3D support.
Cinedigm will license to PRIMA Cinema its rapidly expanding library of independent films, documentaries and other premium alternative specialty content including ballet, opera, theater, sporting events and musical concerts.
"Cinedigm is a fully integrated distributor of independent films and specialty content," said Chris McGurk, Chairman & CEO. "PRIMA provides us with a brand-new high-value distribution channel enabling direct access to an established and growing market of private home theater screens. Additionally, with the associated premium business model it could represent a significant new revenue stream for us."
"We are delighted to partner with Cinedigm for our summer launch," added Jason Pang, PRIMA Cinema founder and CEO. "Apart from Hollywood movies and award-winning independent films, Cinedigm will also be providing our clients with some exclusive movies and other content distributed under our 'World Premier' banner."
Cinedigm Digital Cinema Corp. 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. With the April acquisition of New Video, the world's largest aggregator of independent digital content and leading distributor of quality entertainment, CIDM has created a new full service end-to-end digital studio, enabling the Company to acquire and distribute independent films and specialty content both theatrically and via digital, mobile and home media platforms. Cinedigm and Cinedigm Digital Cinema Corp are trademarks of Cinedigm Digital Cinema Corp. www.cinedigm.com
About PRIMA Cinema
PRIMA Cinema, Inc. is the creator of the exclusive "Premium Home Theater" experience offering highly secure delivery of theatrical release movies and premium specialty content to private home theater systems. Approved by the major Hollywood movie studios, PRIMA's proprietary designed security utilizes advances in technology to provide one of the most secure consumer systems on the market today. The hardware is designed by BMW Designworks and will deliver "better than Blu-ray" image quality plus offering 3D support.
Hollywood's continued acceptance of PRIMA Cinema is reflected in the company's Advisory Board which includes Hollywood veteran Sid Ganis, previously President of the Academy of Motion Picture Arts & Sciences 2005 - 2009, Vice Chairman at Columbia Pictures and President of Paramount; and pioneering film maker, director, screenwriter & producer Peter Farrelly (There's Something About Mary, Dumb & Dumber, Hall Pass and The Three Stooges).
PRIMA's investor group includes Best Buy Capital, NBC Universal and Syncom Ventures, with the company's Headquarters located in San Diego and its LA office at Raleigh Studios, Manhattan Beach. www.primacinema.com
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