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Hollywood, Ca—Sep 23, 2014
Hollywood Software Purchased from Cinedigm By Private Investors Led By Original Founder, David Gajda
Gajda To Return and Serve as Executive Chairman, Setting New Strategy and Direction for Company
Cinedigm Corp. (NASDAQ: CIDM), announced today that the company has sold its digital theatrical distribution and exhibition software division, Hollywood Software, to private investors led by David Gajda, one of the company’s original founders. The dispensation of the Cinedigm Software division stock was an all-cash transaction, effective immediately, it was announced by Cinedigm Chairman of the Board and CEO, Chris McGurk.
Hollywood Software develops the tools for managing all key elements of digital theatrical distribution and exhibition and was acquired by Cinedigm (previous name AccessIT) in 2003. Hollywood Software's Theatrical Distribution System is installed in more than 30 distribution companies in the US and Canada including 20th Century Fox, Universal Pictures and Lionsgate. Their Digital Cinema Theatre Management System product was the pioneer product in the market place and is currently used to manage over 12,000 screens worldwide. With Cinedigm moving more into content aggregation, and Hollywood Software developing solutions that were being used by the entire industry, it made sense to spin off the software division as a stand-alone company once again.
“Given Cinedigm’s headlong pivot into entertainment distribution, having a software company—one that often serves our competitors—no longer made sense,” said Chris McGurk, Chairman of the Board and Chief Executive Officer of Cinedigm. “Advancing Hollywood Software’s growth as a stand-alone business, with Dave at the helm, makes abundantly more sense. Dave built Hollywood Software into one of the leaders in the field of entertainment enterprise applications and is the perfect person to take the software company to the next level. I've known and worked with Dave for a long time and couldn't feel more confident about his ability.”
“I’m delighted to be coming back to the company with a new management team and the backing of investors to develop the next generation of products and open up new markets for them,” said Gajda, Executive Chairman of Hollywood Software Inc. “It is now positioned to lead the way for the transformation of digital distribution worldwide. As one of the founders, I am extremely familiar with the industry and I look forward to working with a group of talented people and loyal clients to deliver on the strategic objectives of the business.”
Gajda went on to say, “Our clients need to be at the heart of everything we do. I want this business to be client centric, known globally for its innovation and cost effective solutions. From a solutions point of view, we will be focusing on the core offerings of theatrical distribution and exhibitor (Distributor, EMS, TCC, Enterprise Web) products, with enhancements and new offerings being developed.”
Hollywood Software’s slate of products targeted to distributors and the exhibition community includes:
- Digital Cinema Theatre Management System (TMS) was the pioneer product in the market place and is currently used to manage over 12,000 screens worldwide.
- Distributor 3.0/TDS is installed in over 30 distribution companies in the US and Canada including 20th Century Fox, CBS Films, Lionsgate, IFC Films, Open Road Films, Relativity, Universal Pictures, and The Weinstein Company. The enterprise software streamlines the process of delivering content to exhibitor partners and provides film distributors, both large and small, with an unparalleled set of features to facilitate the efficient planning, booking and distribution of digital content to virtually any theater.
- Enterprise Web allows exhibitors to oversee their entire operation from anywhere in the world on any handheld or desktop device, creating circuit-wide efficiencies. The product features include show monitoring and reporting, as well as centralized title mapping, preshow programming and keys management.
- Exhibitor Management System (EMS) provides a virtual staff of bookers and accountants working around the clock. It consolidates POS sales data, computes film rental liabilities, manages payments and updates your financial systems. EMS is installed in the home offices of some of the top U.S. theatre circuits including AMC Entertainment Inc., Carmike Cinemas and Goodrich Quality Theatres.
- Theatre Command Center (TCC3) connects theatres, centralizes digital content management and automates the transfer of features, trailers and encryption keys. TCC is the only theatre management system that builds screen playlists automatically.
ABOUT HOLLYWOOD SOFTWARE
Hollywood Software partners with Hollywood movie studios, independent movie distributors, and exhibitors by bringing enterprise software to the marketplace to run their distribution and exhibition businesses.
Cinedigm is a leading independent content distributor in the United States, with direct relationships with over 60,000 physical retail storefronts and digital platforms, including Wal-Mart, Target, iTunes, Netflix, and Amazon, as well as the national Video on Demand platform on cable television. The company’s library of over 52,000 films and TV episodes encompasses award-winning documentaries from Docurama Films®, next-gen Indies from Flatiron Film Company®, acclaimed independent films and festival picks through partnerships with the Sundance Institute and Tribeca Films and a wide range of content from brand name suppliers, including National Geographic, Discovery, Scholastic, WWE, NFL, Shout Factory, Hallmark, Jim Henson and more.
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