MGM, Cinedigm sign VPF pact
Agreement will cover studio's upcoming releasesLAS VEGAS -- Cinedigm Digital Cinema Corp. -- a d-cinema vendor formerly known as AccessIT -- said MGM has signed a so-called virtual print fee agreement covering upcoming releases.
Several studios previously announced VPFs with Cinedigm and the Digital Cinema Initiative Partners, another systems integrator. Such agreements channel to theater circuits studio contributions to costs of installing d-cinema equipment.
The MGM pact builds on its past relationship with Cinedigm.
"As we continue to add more major distributors like MGM to our long-term Phase 1 and Phase 2 plans, we are not only providing more higher quality digital choices for theatres and their customers, we are adding value for our shareholders," Cinedigm chief Bud Mayo said.
"This agreement ... serves as another important step in furthering the theater industry's digital evolution and will undoubtedly drive demand for digitally enabled screens," Cinedigm media services president Chuck Goldwater said.
MGM exec vp distribution Jim Orr called the agreement a sign of d-cinema's "incredibly bright future."
Cinedigm has participated in the rollout of almost 4,000 d-cinema systems in theaters in 41 states.