Cinedigm Signs Exclusive Genre Label Deal with VMI Worldwide
June 17, 2014
CINEDIGM SIGNS EXCLUSIVE GENRE LABEL DEAL WITH VMI WORLDWIDE
Latest in Series of Output Pacts with Renowned and Proven Content Creators At Core of Cinedigm's Aggressive Acquisition Strategy
Los Angeles, CA; June 17, 2014 - Cinedigm Corp. (NASDAQ: CIDM) and VMI Worldwide announced today they have entered into a multi-picture distribution and production output deal. VMI will produce, co-produce or acquire four genre-centric films per year in a multi-year deal. Cinedigm will handle the theatrical and home entertainment release and distribution strategy for each picture, as well as managing the marketing campaigns.
The deal provides Cinedigm a steady slate of star-powered independent genre films, including sexy comedies and action thrillers, for its digital and physical platform partners, as well as provides a consistent flow of content to enhance its direct-to-consumer digital channels. Cinedigm will be involved in all stages of production, as well as the greenlight process. The first film in the slate is Opposite Sex, starring Mena Suvari and Kristin Chenoweth.
"The marketplace is changing and in order for VMI Worldwide to grow and compete at a higher level, we need to move further into the production space. That will allow for greater control of our own destiny," said Andre Relis, President of VMI. "This alliance with Cinedigm grants VMI Worldwide an opportunity to grow our production and acquisitions division, and delve further into delivering a slate of strategic, cast-driven independent productions in collaboration with an outstanding talented team led by Bill Sondheim at Cinedigm. I truly could not be happier with this deal and opportunity."
"This deal demonstrates Cinedigm's continued expansion into cast-driven films with broad distribution rights including theatrical, VOD, pay TV, and digital networks," said Bill Sondheim, President of Cinedigm Entertainment. "We have been impressed with Andre's access to quality films from numerous genres and know he will become a key partner for future releases."
The VMI deal is the latest example of Cinedigm's aggressive acquisition strategy to create partnerships with proven, quality producers. In addition to its partnership with VMI, Cinedigm has announced several high profile output deals since the beginning of 2014
· Cinedigm entered into a multi-picture distribution and production output deal with filmmaker Marco Weber and his Rapid Eye Film encompassing 15 films in the science fiction, suspense and genre areas.
· Cinedigm acquired all U.S. distribution rights to Antboy, based on the popular Danish comic book. It's the first release in a multi-picture, multi-year deal with Viva Pictures Distribution.
Relis negotiated the deal with Yolanda Macias, EVP Acquisitions, Cinedigm.
ABOUT CINEDIGM: Cinedigm is the leading independent content distributor in the United States, with direct relationships with over 60,000 physical retail storefronts and digital platforms, including Wal-Mart, Target, iTunes, Netflix, and Amazon, as well as the national Video on Demand platform on cable television. The company's library of over 52,000 films and TV episodes encompasses award-winning documentaries from Docurama Films®, next-gen Indies from Flatiron Film Company®, acclaimed independent films and festival picks through partnerships with the Sundance Institute and Tribeca Films and a wide range of content from brand name suppliers, including National Geographic, Discovery, Scholastic, WWE, NFL, Shout Factory, Hallmark, Jim Henson and more. CinedigmTM and Cinedigm Digital Cinema CorpTM are trademarks of Cinedigm Corp www.cinedigm.com . [CIDM-G]
VMI Worldwide is a worldwide sales, film finance and production company based in Los Angeles. Founded in 2003 by Andre Relis, VMI has an impeccable reputation in the industry having represented a wide variety of independent films in all genres in addition to thousands of hours of documentary and music content.
Some of VMI Worldwide's past titles include Hellion starring Aaron Paul and Juliette Lewis, Wicked Blood, starring Abigail Breslin and Sean Bean, Gallowwalkers with Wesley Snipes, Why Stop Now starring Jesse Eisenberg, Melissa Leo and Tracy Morgan and My Son My Son , directed by Werner Herzog and starring Michael Shannon, Chloe Sevigny, Michael Pena And Willem Dafoe.
VMI Worldwide has an extensive network of buyers and has cultivated longstanding direct relationships with the top networks, distributors and releasing companies throughout the world. VMI attends and exhibits at all major film and television markets including: NATPE, Berlinale, Hong Kong Filmart, MIPTV, the Cannes Film Festival, LA Screenings, DISCOP, MIPCOM, AFM and ATF in addition to regular sales trips throughout the world.
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