Cinedigm entered an agreement to acquire the streaming and entertainment company Digital Media Rights.
With this latest acquisition, Cinedigm broadens its library, channel portfolio, ad 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 expects to leverage DMR’s social media division to grow its engagement.
Chris McGurk, Chairman and CEO at Cinedigm, stated, “When you consider the other key additive components from this deal, including the global reach of DMR’s expansive social media efforts, we are well-positioned to not only reach a rapidly growing new audience in the short-term but also to expand the scale of a larger Cinedigm umbrella channel strategy in the long run. We expect this acquisition to be immediately accretive, and the leverage of Cinedigm’s technological efficiencies and expansive portfolio of assets will spur significant additional growth.”
David Chu, co-founder and CEO of DMR, commented, “The strong synergy between Cinedigm and DMR is readily apparent, and by working together, we can continue to deliver and further scale our top-notch, curated streaming channels to our audiences in a way that builds a true sense of community.”
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