Digital Cinema Destinations Raises Equity Fund

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Sun, 01/30/2011 - 19:00 -- Nick Dager

Digital Cinema Destinations has raised $1.8 million of a $5 million equity offering from eight investors according to a filing with the SEC.

Named in the filing were CEO A. Dale Mayo vice president Brett Marks and director Martin B. O'Connor II an attorney at O'Connor Morss & O'Connor. Mayo was founder and CEO of Clearview Cinemas in New York which was sold to Cablevision Cinemas in 1998. He served as CEO and president of Cablevision Cinemas then until 2000 when he founded Cinedigm Digital Cinema a technology and services integrator that converts movie theaters into digital and networked entertainment centers. He retired from Cinedigm in June 2010. Mayo was earlier the founder chairman and CEO of Clearview Leasing a lessor of computer peripherals and telecommunications equipment founded in 1976. He began his career as a computer salesman with IBM in 1965.

Westfield New Jersey-based based Digital Destinations represents the latest venture by Mayo in digital entertainment and will use Cinedigm's proprietary technology and software. The company's first project has been the conversion of the five-screen Cranford Movie Theatre a landmark in downtown Cranford New Jersey since 1927 into a digiplex interactive entertainment center. The theatre will present live sports events concerts opera fashion shows children's shows as well as top movies and 3D films as well as interactive conferences and meetings.