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Monday, Sep 25, 2023

Cinedigm Digital Sells Advertising Division

Cinedigm Digital Cinema sold its cinema advertising division to Screenvision, a move that gives Screenvision coverage in the Southern and Midwestern markets. Cindedigm Digital, based in Woodland Hills, and Screenvision did not disclose the terms of the deal for UniqueScreen Media Inc. UniqueScreen provides advertising, promotions, and public service announcements to more than 2,400 screens in 325 theaters. With the acquisition, Screenvision has a total of 15,200 screens on which to advertise to movie going audiences. The two companies also signed an agreement for Cinedigm to promote and distribute sporting events and concerts, shorts, cartoons, and branded entertainment through Screenvision. The partnership achieves two goals, said Cinedigm Chairman and CEO Chris McGurk. “First, it further focuses our resources on alternative content marketing and distribution, a core business where we can be the clear market leader,” McGurk said. “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.”

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