Cinedigm Announces Agreement With Great Escape Theatres for Phase 2 Deployment Program
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MORRISTOWN, NJ, Oct 05 (MARKET WIRE) --
Cinedigm Digital Cinema Corp. (NASDAQ: CIDM) (formerly AccessIT), the
global leader in the digital cinema industry, today announced Great
Escape Theatres ("Great Escape"), an Indiana-based cinema chain, will
participate in Cinedigm's Phase 2 digital cinema deployment program.
Great Escape will purchase its own equipment and Cinedigm will manage the
Virtual Print Fees (VPFs) for a ten-year term for 200 screens at 15
locations.
In Phase 2, Cinedigm has created an Exhibitor-Buyer financing option for
exhibitors. When exhibitors choose this option, they select and purchase
their own equipment and Cinedigm manages billing and collection of VPFs
from movie distributors, receiving a fee for doing so. Exhibitors such as
Great Escape who select this option install Cinedigm Certified
fully-networked digital cinema systems using one of the digital cinema
equipment manufacturers with whom Cinedigm has agreements: Barco, Christie
or NEC.
"We're very excited to be transitioning to digital cinema and to be
working with Cinedigm. We know that their leadership of the industry and
the great success that they have had will help to ensure our smooth
transition," said Anne Ragains, CEO of Great Escape. "We're pleased that
Cinedigm's Phase 2 plan allows us to purchase and own the digital systems
thereby enabling us to invest in technology for our company that is
revolutionizing the movie-going experience."
"We are excited that Great Escape is taking advantage of the
Exhibitor-Buyer option available in our Phase 2 plan allowing them to
invest in the business they know best. It is clear that the digital cinema
conversion is gearing up again in earnest this fall, and Great Escape is
one of the forward thinking exhibitors who is kick-starting the trend,"
said Bud Mayo, chairman and CEO of Cinedigm.
"Cinedigm is pleased to be working with Great Escape, one of the most
innovative and successful independent movie chains in the country. We know
that their move to digital cinema will help them enhance their commitment
to bringing the highest quality viewing experience, a wide range of
alternative content, and live, satellite-delivered, events to movie-goers
in their markets," said Chuck Goldwater, president of Cinedigm's Media
Services Group.
Cinedigm's Digital Cinema division is the industry-leading deployment
program for Digital Cinema that facilitates the funding, installation
support and administration for the company's studio-supported Digital
Cinema rollout plans.
To date, Cinedigm has contracted for and completed the rollout of nearly
4,000 systems in forty-one states with exhibitors including Atlas
Theatres, Allen Theatres, Carmike Cinemas, Celebration! Cinema, Cinema
West, Cinetopia, Dickinson Theatres, Emagine, Galaxy Cinema, Marquee
Cinemas, Krikorian Premiere Theatres, MJR Theatres, Neighborhood Cinema
Group, Premiere Cinema Corp., Rave Motion Picture Theatres, Showplace
Cinemas, UltraStar, and Cinedigm's own Pavilion Digital Showcase Theatre.
Its Phase 2 plan aims to provide networked, turnkey Digital Cinema
systems, in conformance with DCI specifications, for up to an additional
10,000 screens.
About Cinedigm
Cinedigm is the leader in providing the services, experience, technology
and content critical to transforming movie theaters into digital and
networked entertainment centers. The company is a technology and services
integrator that works with Hollywood movie studios and exhibitors to bring
movies in digital cinema format to audiences across the country.
Cinedigm's digital cinema deployment organization, software, unique
combined satellite and hard drive digital movie delivery network; pre-show
in-theater advertising services; and distribution platform for alternative
content such as CineLive(R) 3-D and 2-D sports and concerts, thematic
programming and independent films provide a complete suite of services
required to enable the digital theater conversion. www.cinedigm.com
[CIDM-G]
About Great Escape Theatres
Great Escape Theatres was formed in 1997 and is based in New Albany, IN.
The company currently operates 277 screens at 24 sites in Georgia,
Illinois, Indiana, Kentucky, Nebraska, Missouri, Ohio, Pennsylvania,
Tennessee and West Virginia, with 92 screens in development for 2010 and
beyond. As one of the fastest growing and most successful motion picture
exhibitors in the country the corporate philosophy of Great Escape has
been simple and effective -- build a quality, cost efficient movie
theatre in underserved markets and the audience will come. Great Escape
has focused on the mid-sized markets with populations from 100,000 to
400,000.
Contacts:
Suzanne Moore
Cinedigm Digital Cinema Corp.
(973) 290-0056
Email Contact
Chance Ragains
Great Escape Theatres
812-945-4006
Email Contact
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