Cinedigm to acquire digital media rights – VideoAge International
Cinedigm acquires the rights to digital media
Cinedigm has reached an agreement to acquire the streaming and entertainment company Digital Media Rights.
With this latest acquisition, Cinedigm expands its library, channel portfolio, advertising business and social footprint. DMR distributes 7,500 titles and operates 10 channels, including AsianCrush and Midnight Pulp, among others. Cinedigm plans to expand DMR’s advertising network with its programmatic ad sales infrastructure, and the company plans to leverage DMR’s social media division to increase engagement.
Chris McGurk, Chief Executive Officer of Cinedigm, said: “When you consider the other key add-on elements of this agreement, including the global reach of DMR’s extensive social media efforts, we are well positioned to not only achieve a new rapidly growing audience in the short term, but also to expand the scale of a broader long-term Cinedigm umbrella channel strategy. We expect this acquisition to be immediately accretive, and the leverage of Cinedigm’s technological efficiencies and large portfolio of assets will drive significant additional growth.
David Chu, Co-Founder and CEO of DMR, commented, “The strong synergy between Cinedigm and DMR is evident, and by working together we can continue to deliver and evolve our premier streaming channels to our audiences in a way that creates a real sense of community.
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