LOS ANGELES, CA--(Marketwire -01/25/12)- Cinedigm Entertainment Group, a division of Cinedigm Digital Cinema Corp. (NASDAQ: CIDM - News), has acquired "Like Water," the documentary exploring the life of UFC champion Anderson Silva, for release in North America. The deal was negotiated by Christine D'Souza and Kevin Iwashina of Preferred Content on behalf of the producer.
Leveraging Cinedigm's unique position as a digital exhibitor of independent film and alternative content, the project will be released theatrically in early summer. Lionsgate (NYSE: LGF - News) will handle domestic ancillary distribution. Cinemavault is handling all international rights for "Like Water" outside of North America.
"Like Water" premiered at the 2011 Tribeca Film Festival where the film won the "Best New Documentary Director" award for first-time filmmaker Pablo Croce. Produced by Jared Freedman of Flow With The Go Films, the documentary focuses on Anderson Silva's life leading up to his UFC 117 win over Chael Sonnen. Silva is the longest-reigning UFC Middleweight Champion and one of the greatest mixed martial arts fighters of all time. This behind-the-scenes documentary gives a surprising look at the man behind the fighter and the dedication and commitment it takes to stay at the top. From Silva's life in Brazil with his wife, three sons, and two daughters, to training with his team in Los Angeles, Croce peels back the layers of an ultimate fighter to reveal the heart of a champion.
"It was clear that Cinedigm's platform and distribution strategy was the best way to showcase the film for audiences," said Kevin Iwashina, Managing Partner of Preferred Content. "I am excited that there is not only a new, active buyer in the marketplace, but one that understands the changing ways in which consumers digest their content."
Cinedigm Digital Cinema Corp. (NASDAQ: CIDM - News) is the leader in providing services, experience, technology & content critical to transforming movie theaters into digital entertainment centers. Founded in 2000, Cinedigm was the first to develop and implement what has now become the "industry standard" Virtual Print Fee financing model to facilitate digital conversion. Having deployed over 10,000 screens, Cinedigm is a pioneer & leader in the digital cinema transformation, focused on innovations in digital cinema deployment & servicing, distribution and exhibition software, and marketing & distribution for alternative content and independent films. Cinedigm is currently strategically evaluating accretive M&A opportunities both in North America and internationally in the high growth/high multiple software and content distribution businesses that can accelerate growth plans and/or expand product offerings. For more information please visit http://investor.cinedigm.com. [CIDM-G]
- Anderson Silva