Cinedigm Corp. (NASDAQ: CIDM) and The Asylum announced today they have entered into a multi-year, multi-picture deal for high concept films. The deal provides for a minimum of 12 films over three years, with Cinedigm acquiring all North American rights to the films, including theatrical, digital, video-on-demand, and physical home. The films will also be available to Cinedigm's growing slate of "OTT" digital networks, including CONtv, targeted to the Comic Con audience. The Asylum, led by partners David Michael Latt, Paul Bales and David Rimawi, is one of the world's leading brand-oriented motion picture and television studios. With a focus on high-concept, market-driven entertainment, like the cult hit SHARKNADO, The Asylum finances, produces and releases 20-25 films per year through its direct pipeline to the nation's top retailers and its network of international partners. "Cinedigm is the perfect partner because they truly understand the appeal of our brand of entertainment and how to reach this audience," said The Asylum's David Latt. "Given their successful release of the Sharknado Franchise and our other properties we look forward to repeating this success with these custom made projects." The films in the Cinedigm pact will have "drafting opportunities" off of well-known releases, including Troy: The Odyssey (Action Fantasy), Little Dead Rotting Hood (Horror), Butch Cassidy and The Wild Bunch (Western) and Fortune Cookie (Horror). "We have worked with Asylum for many years and have always been in awe of the creative minds of the Davids and Paul," commented Bill Sondheim, President of Cinedigm Entertainment Group. "They have their fingers on the pulse of consumers, delivering fun and marketable evergreen films that work well on all platforms, from physical to digital to OTT. We know this is going to be a great partnership." The deal was negotiated on behalf of The Asylum by David Garber and Cinedigm's Yolanda Macias.
About CinedigmCinedigm is a leading independent content distributor in the United States, with direct relationships with over 60,000 physical retail storefronts and digital platforms, including Wal-Mart, Target, iTunes, Netflix, and Amazon, as well as the national Video on Demand platform on cable television. The company's library of films and TV episodes encompasses award-winning documentaries from Docurama Films®, next-gen Indies from Flatiron Film Company®, acclaimed independent films and festival picks through partnerships with the Sundance Institute and Tribeca Films and a wide range of content from brand name suppliers, including National Geographic, Discovery, Scholastic, NFL, Shout Factory, Hallmark, Jim Henson and more. Additionally, given Cinedigm's infrastructure, technology, content and distribution expertise, the company has rapidly become a leader in the quickly evolving over-the-top digital network business. Cinedigm's first channel, DOCURAMA, launched in May 2014, and is currently available on millions of consumer devices including ioS, Roku, Xbox and Samsung, with additional platforms currently being rolled out. Earlier this year, Cinedigm also announced plans for CONtv, a Comic Con branded channel, in partnership with WIZARD WORLD, for launch in Q1 2015. The Company also announced its third OTT channel via a partnership with The Dove Foundation. DOVE MOVIE CHANNEL will be a digital streaming subscription service targeted to families and kids seeking high quality and family friendly content approved by Dove. Cinedigm™ and Cinedigm Digital Cinema Corp™ are trademarks of Cinedigm Digital Cinema Corp www.cinedigm.com. [CIDM-G] About The Asylum The Asylum is one of the world's leading brand-oriented motion picture and television studios. With a focus on high-concept, market-driven entertainment, like the SHARKNADO franchise, The Asylum finances, produces and releases 25 films per year through its direct pipeline to the nation's top retailers and its network of international partners. Since its founding in 1997, The Asylum has released more than 500 films and has built a library of over 200 original productions, including top-rated movie premieres for Syfy, Lifetime, and Animal Planet networks. In 2014, The Asylum made its first foray into series television with Z NATION, a critically acclaimed 13-episode action-horror series on Syfy. Z NATION drew high ratings and will return for a second season in 2015.