Cinedigm & MGM ink deal for film content & virtual print fees

MUMBAI: Metro-Goldwyn-Mayer Studios Inc. (MGM) will supply its upcoming movies in digital form to Cinedigm Digital Cinema Corp’s. network of theatres in Phase 1 of its digital cinema deployment plan and will pay virtual print fees (VPFs) under a long term agreement.

This new agreement is a continuation of a partnership between Cinedigm and MGM under which MGM has provided digital versions of most of their motion pictures over the last two years to Cinedigm’s network of exhibitors nationwide, most recently Valkyrie and looking ahead to Fame this September.

"As we continue to add more major distributors like MGM to our long term Phase 1 and Phase 2 plans, we are not only providing more higher quality digital choices for theatres and their customers, we are adding value for our shareholders," said Cinedigm CEO Bud Mayo.

"We are delighted to extend our relationship with MGM and expand our digital film library with MGM’s outstanding lineup of movies. This agreement allows exhibitor partners equipped with our digital cinema systems to access MGM’s highly-anticipated slate of titles. It also serves as another important step in furthering the theatre industry’s digital evolution and will undoubtedly drive demand for digitally-enabled screens," added Cinedigm’s Media Service Division president Chuck Goldwater.

MGM Domestic Distribution division executive vice president and general sales manager Jim Orr said, "Given the growing trend toward digital content and distribution, it is clear that digital cinema has an incredibly bright future and MGM is pleased to formalize our relationship with Cinedigm."

Its Phase 2 plan for up to an additional 10,000 screens will provide networked, turnkey Digital Cinema systems in conformance with DCI specifications, including Cinedigm’s unique Library Management Server and Theatre Command Center software.