Morristown, N.J. - Cinedigm Digital Cinema Corp. ("Cinedigm") (NASDAQ:CIDM) (formerly AccessIT) today announced an agreement with Sony Pictures Releasing Corporation ("SPRC") supporting its "Phase Two" Digital Cinema Deployment Plan for up to 10,000 digital cinema projection systems. Over the next three years, SPRC will supply its upcoming pictures in a DCI-compliant format to Cinedigm installed theatres in the United States and Canada, when booked, and will make financial contributions for a limited time to promote DCI-compliant digital cinema technology (a new and higher quality delivery format).
This agreement extends the strong commitment to digital cinema between the parties and reinforces Sony Pictures' desire to advance the industry's transition to digital. During Cinedigm's "Phase One" deployment, which commenced in the fall of 2005 and was completed in the fall of 2007, more than 3,700 digital cinema systems were installed in the U.S. and Canada.
"Sony Pictures Releasing Corporation has been an important partner to Cinedigm. We're happy to have their commitment to our Phase Two Deployment Plan as we know it will help to create a better experience for audiences at their local theatre," commented Bud Mayo, chairman and chief executive officer of Cinedigm. "We look forward to adding other studios and exhibitors to our Phase Two plan as we broaden the digital cinema footprint in the U.S. and Canada."
"Cinedigm has been an industry leader in digital cinema and we are proud to be their partner in enhancing the theatrical experience for consumers in North America," said Rory Bruer, President of Worldwide Distribution for Sony Pictures Worldwide Marketing & Distribution.
Chuck Goldwater, president of Cinedigm's Media Services Group, added: "Sony Pictures Releasing's partnership with Cinedigm in our Phase One deployment was a key to our successful installation of our first 3,700-plus screens. We know that their renewed support will be vital to Cinedigm in helping us bring even more benefits of the technology, including 3-D and alternative content, to theatre-goers in the U.S. and Canada. Cinedigm is proud to be SPRC's trusted partner in making digital cinema happen."