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CIDM Stock Alert: 12 Things to Know About Cinedigm as Shares Stream Higher

Cinedigm (NASDAQ:CIDM) stock is heading higher on Wednesday following acquisition news for the media streaming company.

a hand pointing a remote control at a tv with a streaming service on the screen

Source: Shutterstock

Here’s everything investors in CIDM need to know about the company and the recent acquisition.

  • Cinedigm announced today that it has acquired Fandor.
  • This is a streaming company that focuses on independent films with roughly 4,6000 tiles.
  • Its offerings include a wide array of classic films, film festival winners, and acclaimed foreign films.
  • It also has apps available on iOS, Android, Roku, Chromecast, as well as other devices and services.
  • Chris McGurk, chairman and CEO of Cinedigm, says the acquisition will be accretive to its EBITDA, revenue, and profit.
  • The company’s goal is to relaunch the Fandor streaming service and use it to expand its own offerings to customers.
  • Cinedigm also plans to relaunch Keyframe, which was Fandor’s video publication covering cinema.
  • Phil Hopkins, the president of CIDM’s Film Detective division, will lead this effort.
  • Cinedigm media offerings include a collection of channels each with a different focus.
  • It has nine in total with some of them being COMBAT GO, Docurama, Dove and Gatherer.
  • The media company also offers digital cinema as well that has it working with major players in the field.
  • That includes 20th Century Fox, Disney (NYSE:DIS), DreamWorks, Lionsgate (NYSE:LGF.A,NYSE:LGF.B), Paramount, Sony (NYSE:SNE), Universal, Warner Brothers, and Weinstein.

CIDM stock was up 13.5% as of Wednesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


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