SOURCE: Cinedigm Digital Cinema Corp.

Cinedigm Digital Cinema Corp.

October 05, 2009 08:30 ET

Cinedigm Announces Agreement With Great Escape Theatres for Phase 2 Deployment Program

Great Escape Among First to Select New Exhibitor-Buyer Financing Option

MORRISTOWN, NJ--(Marketwire - October 5, 2009) - 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® 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.

Contact Information

  • Contacts:
    Suzanne Moore
    Cinedigm Digital Cinema Corp.
    (973) 290-0056
    Email Contact

    Chance Ragains
    Great Escape Theatres
    812-945-4006
    Email Contact