Screenvision, a leading cinema advertising sales, services and content distribution company, today announced that it has signed a definitive agreement to acquire UniqueScreen Media, Inc. (USM), the cinema advertising division of Cinedigm Digital Cinema Corp (NASDAQ: CIDM). Additionally, Screenvision and Cinedigm have entered into a long-term agreement to partner their alternative content businesses, with Cinedigm becoming a major provider of alternative content distribution and promotion for Screenvision. By fully leveraging the Screenvision platform, the deal significantly strengthens and expands Cinedigm's position as a leading supplier of alternative content to theaters across North America.
The deal further solidifies Screenvision’s vast national cinema advertising network by expanding its overall and digital footprints across the country and growing its presence in pivotal top 25 DMA markets. These include Boston, Dallas, Atlanta, Washington DC, Detroit, Minneapolis, Cleveland, St. Louis, Charlotte, and Raleigh. UniqueScreen Media’s strong presence in the South and Midwest regions will further strengthen Screenvision's robust national coverage.
With the addition of UniqueScreen Media’s assets, Screenvision's overall national cinema advertising network will now comprise 15,266 screens, and its digital footprint will now comprise 10,622 screens. This expansion will enable Screenvision to have greater success in helping advertisers connect their brands to savvy cinema audiences across the nation through its innovative marketing offerings.
“UniqueScreen Media has been a great partner with whom Screenvision has collaborated for many years. Its team is passionate about the same thing we are – presenting marketers with engaging ways to interact with consumers by creating the most captivating cinema advertising experiences,” said Travis Reid, Chief Executive Officer of Screenvision. "Additionally, we have experienced solid success in delivering alternative content to our over 150 Exhibitor partners to-date and are excited to be partnering with Cinedigm to provide an additional pipeline of alternative content.”“We are very excited to now be partners with Screenvision, creating a win-win for both companies and our customers,” said Chris McGurk, Chairman and CEO of Cinedigm. “This partnership accomplishes two key goals for Cinedigm: First, it further focuses our resources on alternative content marketing and distribution, a core business where we can be the clear market leader, now further enhanced by the Screenvision platform and relationships. Second, given Screenvision’s leadership position in cinema advertising, this agreement gives our exhibition partners a stronger advertising platform while, at the same time, Cinedigm exits a non-core business.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV