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Paris (France)—Jul 27, 2011
Technicolor Expands Footprint in Digital Cinema Distribution
Technicolor expected to reach over 90% of digital cinema sites currently enabled with satellite connectivity for feature delivery in North America
Technicolor (Euronext Paris: TCH) today announces an agreement with Cinedigm Digital Cinema Corp. (NASDAQ: CIDM) to acquire the assets of Cinedigm specific to physical and electronic distribution of digital cinema content to movie theatres. This further extends Technicolor’s market position and accelerates the growth of its satellite footprint in North America.
Frederic Rose, CEO of Technicolor, commented: “This agreement underpins Technicolor’s leadership position and commitment to all forms of digital distribution. It allows us to accelerate the expansion of our market-leading satellite footprint as we continue to provide the highest level of quality and security to our studio clients.”
“Technicolor is the market leader and highly respected in the delivery business, with strong customer relationships both domestically and internationally that will allow Cinedigm to expand our software and content distribution businesses faster and more effectively,” said Chris McGurk, Chairman and CEO of Cinedigm.
Under the terms of the agreement:
- Technicolor will acquire Cinedigm’s physical and electronic distribution assets, including replication equipment and hard drive inventory as well as a minimum of 300 incremental satellite roof rights with Cinedigm’s current and future exhibitor customers as part of their North American digital cinema equipment deployment. This will result in approximately a 40% increase in Technicolor’s footprint, expanding its satellite network to over 1,100 locations in the United States and Canada.
- Technicolor will become Cinedigm’s preferred content servicing partner for post production through distribution services.
- Technicolor will work with Cinedigm to support the development by Cinedigm of next generation entertainment industry software.
- Technicolor will license Cinedigm’s CineSuite (digital delivery tools) and CineXpress (trailer distribution) software.
Technicolor will continue to seek opportunities to expand its digital cinema distribution footprint. Subject to the execution of definitive documents and satisfaction of certain closing conditions, the transaction is expected to close in September 2011. Financial terms of the transaction are not disclosed.
Technicolor, a worldwide technology leader in the media and entertainment sector, is at the forefront of digital innovation. Our world class research and innovation laboratories enable us to lead the market in delivering advanced video services to content creators and distributors. We also benefit from an extensive intellectual property portfolio focused on imaging and sound technologies, based on a thriving licensing business. Our commitment: Enhance media experience on any screen, in theaters, at home and on the go.
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