Morristown, NJ and Woodland Hills, CA—Oct 6, 2011
Cinedigm Digital Cinema Corp. Signs Definitive Documentation to Sell Digital Delivery Assets to Technicolor
Deal expected to close in November
Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), its wholly-owned subsidiary Access Digital Media, Inc., and Technicolor USA, Inc. have signed an agreement for Technicolor to acquire certain assets of Cinedigm’s physical and electronic distribution business, as well as global, software license agreements related to Cinedigm’s digital theatrical movie and trailer distribution business.
Initially announced on July 27, 2011, the deal is expected to close in November 2011and is subject to customary and limited closing conditions. During the next month, the companies plan to work together to ensure a smooth transition for customers and employees.