Cinedigm has agreed to acquire Gaiam Inc’s entertainment unit GVE in a $51.5m move.
The target is regarded as a leading distributor of home entertainment brands and content and plugs in home entertainment platform to Cinedigm’s multi-platform infrastructure.
Gaiam will retain its health and fitness media business.
Cinedigm, led by Chris McGurk (pictured), said the acquisition was expected to add more than $15m of annual EBITDA to its financial results.
Project is a modern take on the 1964 French film of the same name.
Film will start in New York and LA before national rollout.
Market returns to Los Angeles, runs November 11-16.
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