Malco Theatres Chooses Cinedigm Digital Cinema for Digital Deployment
Deal Will Enable the Rollout of 278 New Digital Cinema Screens
HOLLYWOOD, CA -- (MARKET WIRE) -- 06/20/11 --
Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in digital cinema, today announced a long-term VPF deployment agreement with Malco Theatres, Inc. The agreement will enable the conversion of Malco Theatres to digital cinema under the terms of Cinedigm's long-term agreements with all the major studios. Malco will be providing its own financing in the Cinedigm exhibitor-buyer deal structure. The rollout, featuring Barco digital projectors and Dolby media players, comprises 278 screens in 24 sites, and is expected to be completed by early 2012.
Malco Theatres, Inc. is a fourth generation movie theatre chain that has remained family owned and operated for over nine decades. The company operates 323 screens at 30 locations in five states including Arkansas, Kentucky, Mississippi, Missouri, and Tennessee.
"After considering all of our options, we are confident that we have made the best choice for Malco Theatres to move forward with Cinedigm for our digital cinema deployment program," said Bobby Levy, Executive Vice President. "We are looking forward to taking full advantage of everything Cinedigm has to offer to continue to provide the finest in motion picture entertainment, the highest quality digital cinema presentation and most of all Malco's exceptional service to our loyal customers."
"Malco is one of the finest movie theatre operations in the country, second to none," said Chuck Goldwater, President, Media Services Group. "Their reputation for outstanding performance both technically and operationally as well as their decades of commitment to the communities in which they operate exemplifies the best the exhibition industry has to offer. With their commitment now to digital cinema Malco will further enhance the quality of their theatres for decades more to come."
"It has been a pleasure working with the Malco team throughout the deal process," said Gary Loffredo, Cinedigm's General Counsel and corporate Senior Vice President Business Affairs. "Cinedigm takes great pride in working with our exhibitor partners to develop a digital cinema deal program that meets their requirements. We look forward to developing even more opportunities with Malco utilizing the full menu of Cinedigm digital applications featuring our software and alternative content programming."
Cinedigm offers a new business model to exhibitors by enabling theaters to present engaging alternative programming including live 2D and 3D sporting events and concerts, shorts, cartoons, live Q&As, as well as branded entertainment. Recent releases by Cinedigm include the ground-breaking, 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.
In the combined Phase One and Phase Two digital cinema deployment program, Cinedigm has:
- Signed over 8,300 screens
- Signed 124 exhibitor partners
- Installed over 6,500 digital screens
Cinedigm-installed screens account for over 33% of the total 19,500+ digital screens in the United States and Canada*.
Such theatres are fully networked, 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.
* These figures do not include IMAX screens.
Cinedigm is a leader in providing the services, experience, technology and content critical to transforming movie theaters into digital and networked entertainment centers. The Company partners with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm's digital cinema deployment organization, software, satellite and hard drive digital movie delivery network; pre-show in-theater advertising services; and marketing and distribution platform for alternative content such as CineLive® 3D and 2D sports and concerts, thematic programming and independent movies are a cornerstone of the digital cinema transformation. Cinedigm™ and Cinedigm Digital Cinema Corp.™ are trademarks of Cinedigm Digital Cinema Corp. www.cinedigm.com [CIDM-G]
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Jill Newhouse Calcaterra
Source: Cinedigm Digital Cinema
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