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Technology Stocks : CIDM - Cinedigm Digital Cinema Corp.
CIDM 0.930-11.4%Jan 19 3:55 PM EST

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From: xcentral14/16/2010 7:15:42 AM
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MORRISTOWN, NJ and LOS ANGELES, CA, Apr 07, 2010--Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in the digital cinema industry, today announced Rave Motion Pictures, a Texas-based cinema chain, has signed an agreement to participate in Cinedigm's Phase 2 digital cinema deployment program. Three hundred fifty-six Rave screens across 20 U.S. states will participate in the Phase 2 program including some that have previously installed digital cinema equipment and 277 that will be converted using Barco Series II projection equipment. All will become Cinedigm Certified(TM) digital cinema theatres using Cinedigm technology solutions.

Tom Stephenson, President of Rave Motion Pictures, said, "Our experience working with Cinedigm over the past few years has been excellent. They provide the technology that makes running our theatres in the digital cinema age successful, and the alternative content programming that helps make our customers recognize Rave as a superior entertainment provider. We're excited to extend our working relationship with them and to bring more entertainment to our new locations across the country."

"Tom Stephenson and the entire management team at Rave have been visionary partners with Cinedigm since joining our Phase 1 digital cinema deployment in 2006. We are thrilled to have them join our Phase 2 deployment with Barco," said Bud Mayo, Chairman and CEO of Cinedigm. "Rave has been ahead of the curve in using digital cinema to change the exhibition model. As more 3D and alternative content becomes available from Cinedigm Entertainment Group and studios, Rave has positioned itself to enjoy all of the incremental benefits."

Chuck Goldwater, President of Cinedigm's Media Services Group, said, "Rave is an ideal exhibition partner. They were an early industry leader with their commitment to digital cinema and their embrace of all the programming benefits that are enabled by the technology. We are proud of our expanding partnership with the Rave team and pleased to be working with the Barco team on this next stage of digital cinema with Rave."

Cinedigm's Digital Cinema division is the industry-leading deployment program for Digital Cinema that facilitates the funding, installation support and administration for the company's studio-supported Digital Cinema rollout plans. All theatres that participate in their Phase 1 and Phase 2 plans become Cinedigm Certified(TM) with Cinedigm's proven technology to provide the very best experience possible along with choices of programming never before available. In April 2008, the CBG, a buying program of the National Association of Theatre Owners (NATO) for small and independent theatre operators, announced the selection of Cinedigm as the digital cinema integrator of choice for the CBG's 600+ members in the United States and Canada.

To date, Cinedigm has contracted for and completed the rollout of nearly 4,000 systems in forty-one states with multiple exhibitors. Its Phase 2 plan for up to an additional 10,000 screens will provide networked, turnkey Digital Cinema systems in conformance with DCI specifications.

About Rave Motion Pictures Rave Motion Pictures owns or manages 63 theaters and approximately 1,000 screens in twenty states across the country and in seven of the top ten Designated Market Areas (DMAs). Rave is currently the fifth largest domestic circuit by box office gross and number of screens.

Since its founding by Thomas W. Stephenson, Jr. in 1999, Rave Motion Pictures has been dedicated to enriching the movie-going experience for audiences across the country. Rave Motion Pictures has set the industry standard for customer service and comfort and is a pioneer in the adoption of current digital and 3-D technology and a leader in alternative content programming from live sports to concerts to opera.
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