SOURCE: Cinedigm Digital Cinema

Cinedigm Digital Cinema

February 02, 2011 08:00 ET

Cinedigm Digital Cinema Corporation Announces Digital Deployment for Southern Theatres

Deal Will Enable the Rollout of 283 New Digital Cinema Screens

MORRISTOWN, NJ and LOS ANGELES, CA--(Marketwire - February 2, 2011) - Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in digital cinema, today announced the deployment of 283 Cinedigm-Certified™ screens across 20 existing Southern Theatres, L.L.C. locations in Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Texas. Southern Theatres, LLC, is headquartered in New Orleans. The installations are anticipated to begin in March 2011 and be completed by the end of the year.

Southern Theatres, L.L.C., is responsible for the daily operations of The Grand Theatres and AmStar Cinemas. Southern is financing the deployment through NEC Financial. 

"Upgrading our theatres with state-of-the-art digital cinemas continues Southern's tradition of delivering the best movie-going experience possible," said George Solomon, President of Southern Theatres. "Cinedigm is a great partner and they understand our desire to offer the best, highest quality experience to our audiences."

Solomon has been in the theater business with his family for more than 50 years and launched Southern Theatres, LLC, to develop and operate state-of-the-art, multiplex stadium-seating movie theaters. One of their newest, most innovative theatres is Canal Place, exemplifying Southern's continuing commitment to revitalizing their home town of New Orleans. The fully converted to digital cinema five-plex provides upscale amenities such as gourmet food, luxury seating, and a full bar.

With Cinedigm's turnkey suite of digital cinema technologies, Southern will offer consumers all-new digital entertainment options. From 3D movie extravaganzas to live sports programming and 3D theatrical concerts to event programming, Southern will deliver enhanced digital cinema entertainment well into the future.

"We are thrilled to welcome Southern to our growing list of innovative exhibitor partners," said Chuck Goldwater, President, Cinedigm's Media Services Group. "Our team is eager to begin working with the Southern team to help them take full advantage of the operational and the programming applications made available by Cinedigm's digital cinema platform."

Since the beginning of digital conversions, Cinedigm has been the leader in digital cinema. In Phase 1, Cinedigm deployed 3724 screens at 348 sites for 18 exhibitors in the United States. In the current Phase 2, Cinedigm has signed contracts with 60 exhibitors to deploy 2,947 Screens at 261 Sites. The total number of deployed screens in the United States is 15,019 at 2635 sites, making Cinedigm responsible for the installation or contracting for over 44% of all digital screens. Such theatres are fully networked, turnkey systems -- simple and cost-efficient to operate. These screens will join the growing number of fully digital Cinedigm-Certified™ screens around the world.

Digital cinema enables theatres to program high quality live and alternative content programming. 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.

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.

About Cinedigm

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 ® 3-D and 2-D sports and concerts, thematic programming and independent movies is 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]

About Southern Theatres, LLC

Southern Theatres, L.L.C., was formed in May of 2002 by George Solomon, Chairman and CEO. George has been in the theatre business with his family for over 50 years and launched Southern Theatres, L.L.C. to develop and operate state-of-the art multiplex stadium-seating movie theatres. Southern Theatres L.L.C. is one of the top 20 largest exhibitors in the United States.

Since 2005, Veronis Suhler Stevenson (VSS) has invested over $46 million in equity in Southern Theatres, L.L.C. VSS, based in New York City, is a private equity and mezzanine capital fund management company dedicated to investing in media, communications and information industries in North America and Europe.

Southern Theatres, L.L.C. is responsible for the daily operations of The Grand Theatres and Amstar Cinemas in 20 locations with 283 screens in Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Texas. The Company is well positioned for continued expansion in key markets throughout the Southeast. Southern Theatres, L.L.C. is proud to be headquartered in New Orleans, LA.

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