MORRISTOWN, NJ, Feb 18, 2009 (MARKET WIRE via COMTEX News Network) -- Cinedigm Digital Cinema Corp. ("Cinedigm") (NASDAQ: CIDM) (formerly AccessIT) today announced an agreement with Sony Pictures Releasing Corporation ("SPRC") supporting its "Phase Two" Digital Cinema Deployment Plan for up to 10,000 digital cinema projection systems. Over the next three years, SPRC will supply its upcoming pictures in a DCI-compliant format to Cinedigm installed theatres in the United States and Canada, when booked, and will make financial contributions for a limited time to promote DCI-compliant digital cinema technology (a new and higher quality delivery format).
This agreement extends the strong commitment to digital cinema between the parties and reinforces Sony Pictures' desire to advance the industry's transition to digital. During Cinedigm's "Phase One" deployment, which commenced in the fall of 2005 and was completed in the fall of 2007, more than 3,700 digital cinema systems were installed in the U.S. and Canada.
"Sony Pictures Releasing Corporation has been an important partner to Cinedigm. We're happy to have their commitment to our Phase Two Deployment Plan as we know it will help to create a better experience for audiences at their local theatre," commented Bud Mayo, chairman and chief executive officer of Cinedigm. "We look forward to adding other studios and exhibitors to our Phase Two plan as we broaden the digital cinema footprint in the U.S. and Canada."
"Cinedigm has been an industry leader in digital cinema and we are proud to be their partner in enhancing the theatrical experience for consumers in North America," said Rory Bruer, President of Worldwide Distribution for Sony Pictures Worldwide Marketing & Distribution.
Chuck Goldwater, president of Cinedigm's Media Services Group, added: "Sony Pictures Releasing's partnership with Cinedigm in our Phase One deployment was a key to our successful installation of our first 3,700-plus screens. We know that their renewed support will be vital to Cinedigm in helping us bring even more benefits of the technology, including 3-D and alternative content, to theatre-goers in the U.S. and Canada. Cinedigm is proud to be SPRC's trusted partner in making digital cinema happen."
Cinedigm Digital Cinema Corp. is the global leader in fulfilling the promise of digital cinema. Its ground-breaking technology platform helps exhibitors, distributors, studios and content providers transform the consumer movie experience -- by expanding theatrical features to include not only movies but also live 2-D and 3-D performances such as major sporting events, concerts and gaming. The Company also enables theatres to create exhibitions and advertising opportunities targeted to specific audience groups and locations thereby offering new revenue opportunities for these venues. Cinedigm's leading digital cinema platform and one-of-a-kind satellite delivery operations support more than 3,700 theatre screens equipped with DLP Cinema(R) projection systems across the United States with over nine million digital showings of Hollywood features to date. www.Cinedigm.com [CIDM-G]
About Sony Pictures Entertainment
Sony Pictures Entertainment (SPE) is a subsidiary of Sony Corporation of America (SCA), a subsidiary of Tokyo-based Sony Corporation. SPE's global operations encompass motion picture production and distribution; television production and distribution; digital content creation and distribution; worldwide channel investments; home entertainment acquisition and distribution, operation of studio facilities; development of new entertainment products, services and technologies; and distribution of filmed entertainment in more than 130 countries. Sony Pictures Entertainment can be found on the World Wide Web at http://www.sonypictures.com.
Contact Details: Steve Elzer Sony Pictures Releasing (310) 244-7142 Email Contact Suzanne Moore Cinedigm Digital Cinema Corp. 973.290.0056 Email Contact
SOURCE: Cinedigm Digital Cinema Corp.
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