Reading Signs VPF Agreement with Cinedigm to Convert Arthouses

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Wed, 11/14/2012 - 19:00 -- Nick Dager

Reading International which runs some of the nations most prestigious and successful independent arthouses has signed a long-term virtual print fee deployment agreement with Cinedigm.   Under the terms of the agreement contemplates that Reading through its affiliates will deploy up to 253 digital systems with installation expected to be completed by the end of 2012. The agreement will enable the conversion of theatres to digital cinema under the terms of Cinedigm’s long-term agreements with all the major studios as well as ongoing interim agreements with over one hundred independent distributors.   Reading through its affiliates owns and/or operates cinemas throughout North America including the Angelika Film Center City Cinemas' Paris Theatre in NYC Consolidated Theatres in Hawaii and Reading Cinemas in California and New Jersey.  In addition to owning and/or operating cinemas in Australia and New Zealand Reading is also engaged in real estate development in North America New Zealand and Australia and operates Off-Broadway live theaters in New York and Chicago. “We feel exceptionally fortunate to play such an important role as Reading transforms their prominent theatres to digital ” said Gary Loffredo Cinedigm’s president of digital cinema services.  “Reading’s theatres are truly the cream of the crop in the markets they serve and we are certain they will immediately benefit from digital cinema technology.”    Bob Smerling the president of Reading’s U.S. cinema group said that “After a long due diligence process we are very happy to be working with Cinedigm on our digital conversion.  They will be great partners in the rapidly changing digital cinema environment.”