Cinedigm Forges Acquisition And Distribution Alliance With Demarest Films
Cinedigm Says $51.1M Deal For Gaiam’s Entertainment Unit Will Boost Its Video Distribution Clout
Los Angeles, CA, June 25, 2013 (NASDAQ: CIDM): Demarest Films and Cinedigm today announced they have entered into a co-acquisition and distribution partnership that combines Cinedigm’s full service acquisition and digital distribution and marketing capabilities with Demarest’s deep financing, development, acquisition and production resources to create a new co-acquisition and marketing arrangement that should greatly expand independent film acquisition, marketing and distribution opportunities for both parties.
Cinedigm is the global leader in digital distribution to theatres and all digital platforms. Demarest is a film and television production and financing company founded in 2011 and run by Sam Englebardt and William D. Johnson.
The parties’ first collaboration will be Destin Daniel Cretton’s 2013 SXSW Film Festival dual Grand Jury and Audience Award winner SHORT TERM 12. SHORT TERM 12 will be released theatrically August 23rd, with ancillaries following in early 2014.
“We have been looking for ways to work with Sam and William since they formed Demarest Films. We are thrilled they felt as passionate about SHORT TERM 12 as we did and are very happy to bring them in as partners on this powerful film,” said Chris McGurk, Chairman and CEO, Cinedigm. “This arrangement is truly unique as it’s not a traditional distribution or production relationship – it’s a fully-fledged partnership that allows us to share equally in the upsides of our indie films, from theatrical all the way thru the vast ancillary opportunities our distribution expertise and infrastructure provides. It’s great to be working with such an innovative team and this arrangement should expand acquisition opportunities for both parties in the future.”
“Cinedigm is on the cutting edge of the independent film renaissance and we are thrilled to be partnering with them and tapping into the vast potential that digital distribution provides,” said Sam Englebardt, Co-founder and CEO, Demarest Films. “SHORT TERM 12 is a great initial project as it’s not only a strong, award-winning film with beautiful performances, but we also believe the long tail ancillaries of this project will be significant. We expect this to be the first of many films that we co-release with Cinedigm and a model that we are excited to replicate with other distribution partners as well.”
SHORT TERM 12 is the touching and uplifting story of Grace (Brie Larson), a twenty-something social worker who has channeled the demons of her own troubled past into a passion for helping at-risk teens. Her newest ward, Jayden (Kaitlyn Dever), forces Grace to relive her own difficult upbringing just as she and her boyfriend Mason (John Gallagher Jr.) are on the cusp of making a decision that will change their lives. This is writer/director Cretton’s second feature following the 2012 Sundance Film Festival selection I AM NOT A HIPSTER. The film also features Rami Malek and newcomer, Keith Stanfield.
Bob Fiorella negotiated the deal on behalf of Cinedigm and Englebardt on behalf of Demarest.