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Los Angeles, CA—Sep 28, 2012

Cinedigm Announces Digital Deployment Pact with Metropolitan Theatres Corporation

Deal Will Enable The Rollout Of 82 New Digital Cinema Screens at 16 sites
Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in digital cinema, today announced a long-term VPF deployment agreement with Metropolitan Theatres Corporation (“Metropolitan”).  

This Cinedigm-financed conversion will deploy 82 Cinedigm-Certified™ screens, with installation expected to be completed later this Fall.  Metropolitan will utilize systems from Barco.

Metropolitan currently operates 16 theatres in California, Colorado, Idaho, Utah and British Columbia.

The transition from 35mm film projection, which has been used for 110 years, to digital projection systems is a worldwide motion picture industry effort and the costs to deploy this new technology are covered primarily through the payment of virtual print fees (VPF) from studios to implementation companies. Cinedigm's digital cinema division facilitates funding, installation and operations support, along with ongoing VPF administration, for the company's digital cinema rollout plans. Cinedigm has signed long-term VPF agreements with all the major studios and interim agreements with over one hundred independent distributors.

“Metropolitan has been very diligent in evaluating their conversion options and we are thrilled they have chosen to work with us,” said Gary Loffredo, Cinedigm’s President of Digital Cinema Services.  “We know David and his team will immediately benefit from the many enhancements digital cinema offers, both from the operational side as well as the consumer viewing experience.”

Metropolitan’s President, David Corwin, stated, “We are excited to complete our transition to digital cinema with the support of experienced industry leaders Cinedigm and Barco.  They will be great partners in the continuously changing landscape of theatrical exhibition and the many new opportunities presented.” 

In its combined Phase One and Phase Two digital cinema deployment program, Cinedigm has:
  • Signed 11,474 screens overall
  • Installed 10,787 digital screens (as of 9/14)
  • Signed digital screens deals with 259 exhibitors 
Cinedigm digital theaters are fully networked, turnkey systems – simple and cost-efficient to operate.

About Cinedigm: Cinedigm Digital Cinema Corp. is a leader in providing the services, experience, technology and content critical to transforming movie theaters into digital and networked entertainment centers. The Company partners with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm's digital cinema deployment organization, state of the art distributor and exhibition software, and marketing and distribution platform for alternative content and independent films are a cornerstone of the industry's digital cinema transformation. With the April acquisition of New Video, the world's largest aggregator of independent digital content and leading distributor of quality entertainment, CIDM has created a new full service end-to-end digital studio, enabling the Company to acquire and distribute independent films and specialty content both theatrically and via digital, mobile and home media platforms. Cinedigm Directory page About Metropolitan Theatres Corporation: Los Angeles based Metropolitan Theatres Corporation has been a privately held company owned by the Corwin family since 1923. Metropolitan currently operates 23 theatres with 117 screens in California, Colorado, Idaho, Utah, and British Columbia. Bruce C. Corwin is the Company's Chairman and CEO. Bruce's son, David, is Metropolitan's President and represents the fourth generation of the Corwin family to run the company Metropolitan Theatres Corporation Directory page

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