Exhib licenses TDS technology
Cinedigm Digital Cinema Corp. has licensed its Theatrical Distribution System (TDS) — programming software that aptly uses the company’s digital network — to startup distrib Open Road Films.Open Road, founded earlier this year as a joint venture between AMC Entertainment and Regal Entertainment Group, plans to use the “software to track releases and maximize productivity,” said its exec VP of distribution Elliot Slutzky. “Cinedigm’s TDS system is a powerful solution designed specifically for movie distributors of all sizes, making it the perfect choice for Open Road,” Slutzky said. Distrib plans to implement the system in time for its first Stateside release, “Killer Elite,” on Sept. 23. Cinedigm inked a similar deal with Warner Bros. in May. The studio also plans to use Cinedigm’s TDS to streamline such distribution aspects as booking theaters, print management, revenue accruals, settlements, payments and reporting grosses. In other Cinedigm news, the digital provider has finalized the syndication of its Phase 2 financing with bookers Societe Generale Securities America, and Natixis Corporate and Investment Bank Americas, totaling a minimum of $100 million. The facility, which is earmarked to help exhibs convert theaters to digital, could expand to $130 million depending on exhibitor demand.