Cinedigm Checks into The Asylum
I remember the days when we were the only website paying attention to The Ayslum. From their mockbusters to their original films, we’ve covered it all for better and for worse. Seeing how far they’ve come is pretty gratifying in a lot of respects. News has just come that they’re about to go even further.
From the Press Release:
Cinedigm Corp. (NASDAQ: CIDM) and The Asylum announced today they have entered into a multi-year, multi-picture deal for high concept films. The deal provides for a minimum of 12 films over three years, with Cinedigm acquiring all North American rights to the films, including theatrical, digital, video-on-demand, and physical home. The films will also be available to Cinedigm’s growing slate of “OTT” digital networks, including CONtv, targeted to the Comic-Con audience.
The Asylum, led by partners David Michael Latt, Paul Bales, and David Rimawi, is one of the world’s leading brand-oriented motion picture and television studios. With a focus on high-concept, market-driven entertainment like the cult hit SHARKNADO, The Asylum finances, produces, and releases 20-25 films per year through its direct pipeline to the nation’s top retailers and its network of international partners.
”Cinedigm is the perfect partner because they truly understand the appeal of our brand of entertainment and how to reach this audience,” said The Asylum’s David Latt. “Given their successful release of the Sharknado franchise and our other properties, we look forward to repeating this success with these custom made projects.”
The films in the Cinedigm pact will have “drafting opportunities” off of well-known releases, including Troy: The Odyssey (Action Fantasy), Little Dead Rotting Hood (Horror), Butch Cassidy and The Wild Bunch (Western), and Fortune Cookie (Horror).
“We have worked with Asylum for many years and have always been in awe of the creative minds of the Davids and Paul,” commented Bill Sondheim, President of Cinedigm Entertainment Group. “They have their fingers on the pulse of consumers, delivering fun and marketable evergreen films that work well on all platforms, from physical to digital to OTT. We know this is going to be a great partnership.”
The deal was negotiated on behalf of The Asylum by David Garber and Cinedigm’s Yolanda Macias.