Cinedigm Signs Exclusive Genre Label Deal With Rapid Eye Film
April 29, 2014
Los Angeles, CA (April 29, 2014) - Cinedigm Corp. (NASDAQ: CIDM) and Rapid Eye Film announced today they have entered into a multi-picture distribution and production output deal for North America encompassing 15 films. Rapid Eye Film (REF) will produce, co-produce or acquire three to four genre-centric films per year. Cinedigm will handle the theatrical and home entertainment release and distribution strategy for each picture, with REF producing and managing the marketing.
The deal provides REF guaranteed distribution for the films across all platforms, and provides Cinedigm a steady slate of independent genre films, including science fiction and suspense thrillers. Cinedigm will be involved in all stages of production.
Filmmaker Marco Weber created Rapid Eye Film with the mandate to produce and distribute elevated genre fare. Recently, the company released the low budget feature CALIFORNIA SCHEMING (written and directed by Weber), starring Gia Mantegna and Chad Lowe.
"This deal signifies a critical shift in Cinedigm's content and distribution strategy," said Bill Sondheim, President of Cinedigm Entertainment. "We are now one of the industry's strongest independent distribution businesses, with unparalleled mass merchant physical capabilities, along with strong theatrical and digital expertise. Leveraging these potent attributes - along with our growing cable and broadcast reach -allows us to acquire productions with higher profile casts in commercially popular genres. Marco and Rapid Eye really understand this marketplace making them ideal partners to bolster Cinedigm's mainstreaming approach and to provide us with a robust pipeline of genre content."
"To be appointed the genre label for one of the strongest independent distributors in the industry marks an important step for REF. Cinedigm's commitment towards these films' budgets as well as its significant release and P&A support will make this a real alternative for any genre filmmaker and talent with a unique idea," said Weber. "This deal will enable us to take advantage of digital filmmaking on the production side as well as on the distribution side. I am looking forward to working with Bill and Cinedigm's entire team to make a significant impact on our targeted audience."
Weber is a veteran filmmaker who has produced a number of high profile films including IGBY GOES DOWN with Kieran Culkin, Clare Danes, Susan Sarandon, Bill Pullman and Jeff Goldblum; THE THIRTEENTH FLOOR starring Craig Bierko and Grethchen Mol; UNTHINKABLE with Samuel L. Jackson and Carrie-Anne Moss; THE INFORMERS with Billy Bob Thornton, Kim Basinger, Winona Ryder and Mickey Rourke, and FIREFLIES IN THE GARDEN with Ryan Reynolds, Willem Dafoe, Emily Watson and Julia Roberts.
Weber and attorney Paul Mayersohn of Surpin and Mayersohn negotiated the deal with Yolanda Macias, EVP Acquisitions, negotiating for Cinedigm.
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