Cinedigm to Sell Movie Distribution Business to TechnicolorJuly 28, 2011 at 6:32 pm | Posted in Bonds Beyond Time, Other Stuff, Yu-Gi-Oh! | Leave a comment
Cinedigm, a developer of digital cinema products and services and the theatrical distributor of Yu-Gi-Oh! 3D: Bonds Beyond Time earlier this year, announced yesterday that is selling its movie distribution business to Technicolor.
While Cinedigm is best known for using its technology to convert traditional movie theaters to digital cinemas, it also operates a “non-core” business distributing independent and alternative films and screening live events. Cinedigm had been the go-to company for Funimation to distribute many of its anime films, including Dragon Ball Z: Fusion Reborn, Basilisk: The Beginning, Trinity Blood: Genesis, and Fullmetal Alchemist the Movie: Conqueror of Shamballa. And of course, the company was also selected by 4Kids to distribute Yu-Gi-Oh! 3D across 300 U.S. theaters in February and March earlier this year.
Cinedigm Chairman and CEO Chris McGurk tells The Hollywood Reporter that leaving the physical movie delivery business will allow the company to focus on developing its digital cinema software, which Technicolor will be licensing as part of their deal, and organizing more alternative content in theaters. In the coming months, the company plans to announce its arrangements with theaters to offer TV-channel-like programming, such an action sports night, kids night, Broadway night, and independent films series.
The deal between Cinedigm and Technicolor is expected to close in September.