Cinema Corp.(NASDAQ: CIDM), the global leader in digital cinema, today announced a
long-term VPF deployment agreement with Malco Theatres, Inc. The
agreement will enable the conversion of Malco Theatres to digital cinema under the terms of Cinedigm’s
long-term agreements with all the major studios. Malco will be providing its own financing in
the Cinedigm exhibitor-buyer deal structure.
The rollout, featuring Barco digital projectors and Dolby media players,
comprises 278 screens in 24 sites, and is expected to be completed by early
Malco Theatres, Inc. is a fourth generation movie theatre chain
that has remained family owned and operated for over nine decades. The company
operates 323 screens at 30 locations in five states including
Arkansas, Kentucky, Mississippi, Missouri, and Tennessee.
“After considering all of our
options, we are confident that we have made the best choice for Malco Theatres
to move forward with Cinedigm for our digital cinema deployment program,” said
Bobby Levy, Executive Vice President.
“We are looking forward to taking full advantage of everything Cinedigm
has to offer to continue to provide the finest in motion picture entertainment,
the highest quality digital cinema presentation and most of all Malco’s
exceptional service to our loyal customers.”
"Malco is one of the
finest movie theatre operations in the country, second to none," said
Chuck Goldwater, President, Media Services Group. “Their reputation for outstanding performance
both technically and operationally as well as their decades of commitment to
the communities in which they operate exemplifies the best the exhibition
industry has to offer. With their
commitment now to digital cinema Malco will further enhance the quality of
their theatres for decades more to come."
“It has been a pleasure
working with the Malco team throughout the deal process," said Gary
Loffredo, Cinedigm's General Counsel and corporate Senior Vice President
Business Affairs. "Cinedigm takes
great pride in working with our exhibitor partners to develop a digital cinema
deal program that meets their requirements.
We look forward to developing even more opportunities with Malco
utilizing the full menu of Cinedigm digital applications featuring our software
and alternative content programming."
Cinedigm offers a new business model to exhibitors by enabling theaters
to present engaging alternative programming including live 2D and 3D sporting
events and concerts, shorts, cartoons, live Q&A’s, as well as branded
entertainment. Recent releases by
Cinedigm include the ground-breaking, worldwide LIVE 3D broadcast of the FIFA
World Cup Championship, the BCS Championship in LIVE 3D, the Dave Matthews Band
3D concerts, and the sold out 3D PHISH concerts. Cinedigm has also released the
KIDTOONS series for the past six years, a weekly family friendly matinee series
that runs in over 165 theatres across the country.
combined Phase One and Phase Two digital cinema deployment program, Cinedigm
- Signed over 8,300 screens
- Signed 124 exhibitor
- Installed over 6,500
screens account for over 33% of the total 19,500+ digital screens in the United
States and Canada*.
Such theatres are fully networked, turnkey systems – simple and
cost-efficient to operate.
Cinedigm's Digital Cinema division is the industry-leading
deployment program for Digital Cinema. It facilitates the funding, installation
support and administration for the company's studio-supported Digital Cinema
rollout plans. Cinedigm is also the
digital cinema integrator of choice for the CBG, a buying program of the
National Association of Theatre Owners (NATO) for small and independent theatre
operators in United States and Canada.
figures do not include IMAX screens.