Los Angeles, CA -- Cinedigm (NADSAQ: CIDM) and Magnet Media Productions today announced they have entered into partnership to distribute five feature films over the next three years using Cinedigm's expansive digital distribution and marketing capabilities.
"In Cinedigm, we have found a partner who can help us bring our films to best possible audiences and to guide the marketing efforts behind those releases," said Michele Ohayon, Chief Executive Officer of Magnet. "A smart theatrical release for independent projects is invaluable in terms of enhancing awareness and interest, and Cinedigm has created the perfect model for getting films to theatres in a financially responsible manner, creating tremendous upside for the entire industry."
Magnet Media Productions' slate have Academy Award®-winning talent in front of and behind the camera and are defined by high-concept commercial and cast-driven projects with authentic characters and compelling stories. The company is currently in pre-production on MARRIED AND CHEATING starring Sarah Jessica Parker, Eva Longoria and Brendan Frasier. Other recent films include THIRTEEN, starring Sam Riley, 50 Cent and Mickey Rourke, THE EXPERIMENT starring Academy Award® winners Adrien Brody and Forrest Whitaker, and DARK TIDE starring Academy Award® winner Halle Berry and Olivier Martinez.
"We are thrilled to bring Magnet's commercially-minded projects to the big screen," said Vincent Scordino, Vice President of Acquisitions for Cinedigm. "It's vital to the entire industry that the independent film community stay strong and vibrant, and this type of smart theatrical release with targeted marketing is bound to do just that."
Scordino negotiated the deal on behalf of Cinedigm.
Iron Man 3 was the only film to break the $1 million mark over the weekend, winning the top spot at the box office for the third consecutive week on its path to an $18.9 million cume. Hansel and Gretel: Witch Hunters dropped 37% and held on to the number two spot, reaching a $2.4 million total in Italy. Evil Dead opened in third place with the highest per-screen average of the weekend, scoring $2,425 per-theater in 268 locations.
Box office results for Italy. May 10-12, 2013
Star Trek Into Darkness edged out Iron Man 3 in Germany to claim the top spot at the box office. The sci-fi sequel scored a $6.3 million opening weekend, stalling the progress of Iron Man 3 during the superhero film's second week in release. The Robert Downey Jr. action film grossed $4.9 million over the weekend to take its German total to $17.4 million. Further down the chart, Scary Movie 5 kept strong numbers in its third week in release, adding $1.1 million to its $6.2 million German cume.
Box office results for Germany. May 10-12, 2013
The success of Iron Man 3 has not prevented Les Profs from becoming one of the major hits of 2013 in France. The French film held at number two last weekend after grossing $4 million, falling only 3% from the previous weekend's take. Les Profs has grossed $25.7 million in France over four weeks and shows no sign of slowing down. Iron Man 3 kept its strong run with a $5.1 million weekend and a $33.2 million cume. Mud kept afloat in its second week and reached a $2.8 million cume after a $1.1 million weekend gross.
Box office results for France. May 10-12, 2013.
Star Trek Into Darkness topped the Australian box office last weekend, grossing $5.2 million to put an end to the reign of Iron Man 3 as the highest grossing movie in the country. Iron Man 3 saw its gross fall 51% from the previous weekend, taking in $3.1 million to reach a $32.8 million cume.
The Big Wedding received more good news in its second week, grossing $1 million to make a sturdy $3 million cume that comes as a breath of fresh air after its woes in the U.S. box office. The Place Beyond the Pines opened in limited release and nearly beat Star Trek's per-screen average with $9,832 across each of its 64 locations. Spring Breakers opened in 48 screens but was unable to drum up as much interest, averaging $3,852 per location.
Box Office Results for Australia. May 10-12, 2013