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
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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.

 


Article printed from InvestorPlace Media, https://investorplace.com/2021/01/cidm-stock-alert-12-things-to-know-about-cinedigm-as-shares-stream-higher/.

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