Cinedigm Signs on Initial Financing for Phase 2 Digital Cinema Conversions

Cinedigm Digital Cinema Corp. (“Cinedigm”) (NASDAQ: CIDM) today announced its Phase 2 Entity signed today on an $8.9 million credit facility. The facility will fund the launch of Cinedigm’s first 137 Phase 2 conversions of Premiere Cinemas’ theatres to the Company’s digital cinema platform, in what is expected to ultimately be a 10,000-screen digital cinema deployment plan. The first 35 systems are expected to be operational in December, bringing the total for Phase 2 to 55 by year end. To date, Cinedigm has signed almost 500 screens to its Phase 2 plan and anticipates thousands more in the months ahead

http://www.digitalcinemainfo.com/cinedigm_12_02_08.php