Cinedigm Announces Key New Executive Hires in China
November 02 2018 - 11:00AM
Executives focused on Film/TV acquisitions
and distribution to further China/North America content
strategy
Cinedigm (NASDAQ: CIDM) announced today they have created two new
full-time positions based in China to further the Company’s efforts
to increase the bilateral distribution of content and OTT streaming
channels to China and North America. Kenny Miao, and Chun Chen,
Cinedigm’s China Representatives, both played important consulting
roles with Cinedigm over the past year as the Company began its
aggressive expansion into China/North America content distribution.
The China focus follows a significant investment in Cinedigm from
leading Chinese private equity firm Bison Capitol and a subsequent
strategic partnership with Starrise Media, an important Chinese
content distribution player. With these two key players now on
board as full-time executives, Cinedigm will have the complete
benefit of Miao and Chen’s important input and expertise with
content acquisitions, business processes, high level relationships
and deal making in China.
Chun Chen has over two decades of experience
working in the entertainment and communications fields, including
at China's State Council Information Office, Chinadaily.com.cn, and
China Center for International Communication Studies. Kenny Miao
attended McGill University and the New York Film Academy, has been
project manager with a major consumer electronics firm and has been
involved in Chinese film and TV production for several years. Both
executives have worked closely with Starrise Media and Bison
Capital in China.
“It is no mystery that China represents the fastest
growing media market in the world, but it is also often complicated
to effectively navigate the unique business traditions and
regulatory process there,” said Bill Sondheim, President of
Cinedigm Entertainment Group. “Cinedigm has accomplished a great
deal in China over the past year in large part due to the business
expertise and understanding of key content attributes and
requirements that we have gained through working with these local,
experienced, connected and talented executives. We are thrilled to
have them both join Cinedigm as full time executives.”
Cinedigm has already had success forging strategic
relationships with China’s leading content producers and
distributors, and the Company has already closed several key deals,
with these hires expected to expedite additional efforts.
Following a majority investment by leading Chinese
private equity firm Bison Capital in late 2017, Cinedigm announced
a strategic alliance with leading Chinese entertainment company
Starrise Media Holdings Limited (“Starrise Media”) to release films
in China theatrically and to digital platforms there. Reciprocally,
that alliance also paved the way for Cinedigm distribution of
Chinese films in the North American marketplace. In addition to
selectively releasing quality films theatrically, the Starrise
strategic venture contemplates the release of hundreds of films
into the home entertainment marketplaces in China and North
America, with particular focus on digital platforms. In addition,
the two companies are evaluating opportunities to jointly produce
Chinese/American film co-productions to take further advantage of
this groundbreaking alliance. Miao and Chun will be based in the
Starrise offices in Beijing.
Last week, Cinedigm announced a partnership with
Youku to distribute 30 original Chinese feature films in North
America on all platforms including digital, physical DVD’s and
BluRays, and across all OTT platforms, with a primary focus on
major streaming platforms and niche outlets. The films will also be
included in the recently announced China-focused North American OTT
channel, Bambu, which Cinedigm is launching next year.
Earlier this year, the Company announced that it
has partnered with Mark Yellen Productions and Rosenbloom
Entertainment to produce a multi-season, programmatic series about
renowned feminist and adventurer Emily Hahn, the prolific literary
author who introduced exotic Shanghai and greater China to US
audiences through her articles published in the New Yorker Magazine
in the 1930s. The production will be available to US, International
and China outlets and reinforces Cinedigm’s strong and expanding
relationships in China. Currently, the group is bringing the series
to showrunners, writers, and directors and expects to be in
production in 2019. With plans to shoot on location in Shanghai and
Hong Kong, the producers will take full advantage of Shanghai’s
iconic Bund waterfront, which has one the richest collections of
Art Deco architecture in the world.
Other deals that Cinedigm is finalizing include the
broad license of current hit TV shows and movies from CITVC, the
International Licensing arm of CCTV, China’s largest broadcaster.
The Company is also finalizing deals with Shanghai Media Group, the
largest Regional Production and Broadcaster in China, as well as
CICC (China Intercontinental Communication Center) and expects to
provide details of those agreements over the next several
weeks.
Additionally, during the Beijing International Film
Festival earlier this year, Cinedigm announced Chinese
entertainment business cooperation agreements between Cinedigm and
several new Chinese partners, including V1.CN, Ling He Culture
Media (Shanghai) Co., Ltd., Youth Studio, and Emei Studio Group Co.
Ltd. Following the festival, Cinedigm also signed a “Belt and
Road Media” Cooperation Union with CICC whereby
the companies agreed to work together to encourage film and
television productions, to build a “belt and road”
broadcasting network and to improve the quality and prosperity of
the media industry in both our countries. Bambu is expected to be a
key component of that effort.
About Cinedigm
For twenty years, Cinedigm has been at the
forefront of the digital transformation of entertainment. Today,
Cinedigm continues that mission by providing content, channels and
services to the world’s largest media, technology and retail
companies. Our content aggregation and distribution services power
the world’s leading digital platforms and retailers. Cinedigm’s
Digital Networks group provides channels and services that
entertain consumers globally across hundreds of millions of
devices. For more information about our content, channels and
services, visit www.cinedigm.com.
Cinedigm™ and Cinedigm Digital Cinema Corp™ are
trademarks of Cinedigm
Corp. www.cinedigm.com.
Press Contact for CIDM:
Jill Newhouse Calcaterra
310-466-5135
jcalcaterra@cinedigm.com
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