Cinedigm Digital Cinema Corp (NASDAQ: CIDM) announced today that Open Road Films will license Cinedigm's Theatrical Distribution System ("TDS") to serve as the platform to manage key aspects of Open Road’s theatrical distribution to its domestic territories. Cinedigm expects implementation will be completed in time to support Open Road’s first theatrical release, Killer Elite, which will be released nationwide on September 23, 2011.
Open Road Films is an innovative joint venture between the nation’s top two theatre operators, AMC Entertainment Inc. and Regal Entertainment Group. The foray into the distribution business by these top exhibitors comes at a unique time in the entertainment industry as the number of major studio releases has declined over the years and there is an increased demand for content.
“Tom Ortenberg and his entire Open Road team have been aggressive and forward-thinking since the day the company was announced,” said Chris McGurk, CEO and Chairman of Cinedigm. “Open Road, Regal and AMC are breaking new ground in the industry and we are pleased to be a part of this history.”
Cinedigm's TDS system streamlines the workflow associated with movie releases, integrates with all other key internal and vendor systems and manages all related transactions and business data, while providing real-time financial and management reporting.
“It’s important that we have the most sophisticated and efficient software to track releases and maximize productivity,” said Elliot Slutzky, Executive Vice President of Distribution for Open Road Films. “Cinedigm's TDS system is a powerful solution designed specifically for movie distributors of all sizes, making it the perfect choice for Open Road.”
“We appreciate the opportunity to work with the veteran team at Open Road Films as they bring their unique vision to the theatrical marketplace,” said Jim Miller, president of Cinedigm’s software division. “We look forward to their insight and perspective as we innovate new technologies for the industry.”