The deal will help Screenvision expand across the country to places including Boston, Dallas, Atlanta, Washington DC, Detroit, Minneapolis, Cleveland, St Louis, Charlotte and Raleigh.
Screenvision and Cinedigm also entered into a long-term agreement to partner their alternative content businesses, with Cinedigm becoming a major provider of alternative content distribution and promotion for Screenvision.
This deal will mean Screenvision’s cinema advertising network will include 15,622 screens and a digital footprint of 10,622 screens.
“We have experienced solid success in delivering alternative content to our over 150 exhibitor partners to-date and are excited to be partnering with Cinedigm to provide an additional pipeline of alternative content,” Screenvision CEO Travis Reid said.
“We are very excited to now be partners with Screenvision, creating a win-win for both companies and our customers,” Cinedigm chairman and CEO Chris McGurk said. “This partnership accomplishes two key goals for Cinedigm: first, it further focuses our resources on alternative content marketing and distribution, a core business where we can be the clear market leader, now further enhanced by the Screenvision platform and relationships.
“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.”