Cinedigm Digital Cinema to Sell Digital Delivery Assets to Technicolor; Companies Enter Into Global Digital Delivery Software Partnership

Cinedigm Digital Cinema Corp.

and Technicolor today announced they have entered into a binding letter of intent for Technicolor to acquire the assets of Cinedigm's physical and electronic distribution business, as well as to create a strategic software design partnership between the two companies. The transaction is expected to close within 45 days, subject to the execution of definitive documentation. The arrangement is expected to provide superior service and value, with greater scale and functionality, to the combined studio distribution customers of each Company. Financial details of the deal and partnership were not released.