Hollywood, CA -- Cinedigm Digital Cinema Corp.(NASDAQ: CIDM), the global leader in digital cinema, today announced a long-term virtual print fee deployment agreement with Clearview Cinemas, one of the New York metropolitan area's largest movie exhibitors. The agreement enables the continued conversion of Clearview's theatres to digital cinema, under the terms of Cinedigm's long-term agreements with all the major studios.
"Clearview Cinemas is dedicated to offering moviegoers the best entertainment experience possible and digital cinema is an integral part of that experience," said Doug Oines, senior vice president and general manager, Clearview Cinemas. "That's why we've chosen Cinedigm, one of the clear leaders in digital cinema integration. Not only will we ensure moviegoers get a high-quality visual presentation, but we will also enhance Clearview's digital entertainment options through even more alternate content choices for our customers."
"Clearview Cinemas is a marquee circuit in the #1 market in the country," said Chuck Goldwater, president, Media Services Group. "Their thoughtful approach to digital cinema will be beneficial in serving both their business needs and the needs of their customers. We are delighted to be working with the Clearview team to help them continue to provide a high-quality entertainment experience."
"Given their strong presence in the New York metro area we are especially proud to add Clearview Cinemas as one of our most prominent exhibitor partners," said Gary Loffredo, Senior Vice President, Business Affairs, and General Counsel for Cinedigm Digital Cinema Corp. "Cinedigm is well positioned throughout all our divisions to help create many opportunities for synergies between our two companies and particularly with software and content initiatives."
Cinedigm offers a new business model to exhibitors like Clearview Cinemas by enabling theaters to present engaging alternative programming including live 2-D and 3-D sporting events and concerts, shorts, cartoons, live Q&A's, as well as branded entertainment. Recent releases by Cinedigm include the groundbreaking, worldwide LIVE 3D broadcast of the FIFA World Cup Championship, the BCS Championship in LIVE 3D, the Dave Matthews Band 3D concerts, and the sold out 3D PHISH concerts. Cinedigm has also released the KIDTOONS series for the past six years, a weekly family friendly matinee series that runs in over 165 theatres across the country.
Since the beginning of digital conversions, Cinedigm has been the leader in digital cinema. In Phase 1, Cinedigm deployed 3,724 screens at 348 sites for 18 exhibitors in the United States. In the current Phase 2, Cinedigm has signed contracts with 85 exhibitors to deploy 3,960 Screens. All theatres are fully networked with turnkey systems - simple and cost-efficient to operate.
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.