MORRISTOWN, NJ & LOS ANGELES, CA -- Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in digital cinema, today announced that its Phase 2 digital cinema deployment program Exhibitor-Buyer financing option will be used by Dickinson Theatres to commence installations of 250 digital cinema systems at 25 sites immediately. One-half of the installations are anticipated to be complete in the next 12 months.
Dickinson was one of the first exhibitors to commit to Cinedigm's Phase 2 program though was not included in Cinedigm's backlog until today given the undetermined financing. With this updated agreement and Dickinson's exhibitor self-financing plan, Dickinson will complete the digital conversion of all their theatres. Dickinson will celebrate its 90th anniversary in November 2010 with its first digital cinema screens up and running. These newly transitioned screens will allow Dickinson to bring 3D movie extravaganzas, live sports programming, 3D concert films, event programming and much more to the audiences it serves across ten states.
"We have been looking forward to working with Cinedigm on our digital cinema program and are excited to be moving forward," said John Hartley, President and CEO of Dickinson Theatres. "Not only do they provide the best transitional services, but their leadership bringing high quality alternative content and live 2D and 3D events to theatres confirms that we'll be bringing the best to our audiences."
"We are delighted to reaffirm our partnership with Dickinson Theatres," said Chuck Goldwater, President, Cinedigm Media Services Group. "They bring a personal touch to their dedication to their customers combined with an excellence in operations that has earned them an outstanding reputation in the markets they serve. With digital cinema they will extend that dedication even further with a greater variety of exciting programming options for their customers."
Cinedigm's Phase 2 plan will bring up to 10,000 additional screens to the global roster of fully digital theaters. Such theaters are fully networked, turnkey systems that are simple and cost-efficient to operate. These screens will join the growing number of fully digital Cinedigm-CertifiedTM screens around the world.
Cinedigm's Digital Cinema division is the industry-leading deployment program for Digital Cinema. It facilitates the funding, installation support and administration for the company's studio-supported Digital Cinema rollout plans. Cinedigm is also the digital cinema integrator of choice for the CBG, a buying program of the National Association of Theatre Owners (NATO) for small and independent theatre operators in United States and Canada.