This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Cinedigm Digital Cinema Corp. Announces First Large Scale International Digital Deployment With Caribbean Cinemas

Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in digital cinema, today announced their first large scale exhibitor deployment outside the continental US and Canada via a long-term VPF deployment agreement with Caribbean Cinemas. Following a concentrated international expansion effort, Cinedigm has made significant inroads internationally in the last months, including selection as the digital cinema integrator for independent cinemas in Australia and New Zealand (ICAA), as well as providing negotiation and technical services for a consortium of Brazilian theatres; Caribbean Cinemas marks the first full scale international deployment.

Caribbean Cinemas will provide its own financing in the Cinedigm exhibitor-buyer deal structure and will deploy up to 290 Cinedigm-Certified™ screens, with installation expected to be completed later this Fall. The agreement will enable the conversion of theatres to digital cinema utilizing Cinedigm’s long-term agreements with all the major studios, as well as ongoing interim agreements with over one hundred independent distributors.

Caribbean Cinemas is the largest motion picture exhibitor in the Caribbean Islands, operating 53 theatres with a total of 437 screens throughout the Islands, including Puerto Rico, the Dominican Republic, Aruba, St. Lucia, St. Maarten, Antigua, St. Kitts, St. Thomas and Trinidad.

“We are thrilled to bring digital cinema to Caribbean Cinemas and we are certain that all their constituents, from employees to customers, will immediately enjoy its many benefits,” said Gary Loffredo, Cinedigm’s President of Digital Cinema Services. “This marks the first of what we expect will be a continuing worldwide expansion of our industry-leading digital cinema deployments.”

“Caribbean Cinemas has a long and successful history of providing our customers with state of the art movie going experiences, and being able to conclude this agreement with Cinedigm and our Studio partners to bring the enhanced digital cinema experience to our customers further demonstrates this promise and is very gratifying to us,” said Robert Carrady, President and CEO of Caribbean Cinemas. “We are confident, after our lengthy discussions and extensive evaluation process, that Cinedigm provides the outstanding service we expect, and we look forward to a long and mutually beneficial relationship.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs