MORRISTOWN, NJ -- Cinedigm Digital Cinema Corp. (NASDAQ: CIDM) (formerly AccessIT), the global leader in the digital cinema industry, today announced Georgia Theatre Company ("Georgia"), a Georgia -based cinema chain, will participate in Cinedigm's Phase 2 digital cinema deployment program. Georgia will purchase its own equipment and Cinedigm will manage the Virtual Print Fees (VPFs) for a ten-year term for 257 screens at 23 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 Georgia 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. Georgia will use Christie Digital Systems and Christie's Managed Services Division.
"Georgia Theatre Company has always prided itself on providing state-of-the-art facilities," said Bill Stembler, Chairman and CEO of Georgia Theatre Company. "We are excited to be partnering with Cinedigm and Christie to bring the highest quality digital experience to our customers."
Bud Mayo, chairman and CEO of Cinedigm, commented, "As the transition to digital cinema evolves, Cinedigm evolves. The Exhibitor-Buyer option within the Phase 2 deployment plan is a fine example. Georgia Theatre Company's enthusiasm for providing an excellent experience for its patrons is one of the many reasons we are confident that this conversion will continue to gain momentum."
"Georgia Theatre Company is one of the most respected companies in the greatest traditions of the exhibition industry," said Chuck Goldwater, president of Cinedigm's Media Services Group. "We are excited and proud to be working with Bill and Aubrey and their team to help them make the transition to digital cinema and achieve all the benefits and goals they want for their customers."
Cinedigm's Digital Cinema division is the industry's leading deployment program for Digital Cinema. It 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.