Under the deal, Cinedigm has all North American rights to the films, including theatrical, digital, VOD and home entertainment. The films will also be available to Cinedigm’s slate of digital networks, including its CONtv network targeted to the Comic-Con audience.
The Asylum is led by partners David Michael Latt, Paul Bales and David Rimawi and finances, produces and releases 20-25 films per year. The first “Sharknado” aired on Syfy in 2013, and the sequel was broadcast last summer.
“Cinedigm is the perfect partner because they truly understand the appeal of our brand of entertainment and how to reach this audience,” Latt said. “Given their successful release of the ‘Sharknado’ franchise and our other properties, we look forward to repeating this success with these custom-made projects.”
Some of the films in the Cinedigm deal include satires and combinations of well-known titles such as “Troy: The Odyssey,” “Little Dead Rotting Hood,” “Butch Cassidy and the Wild Bunch” and “Fortune Cookie.”
Cinedigm announced Jan. 20 that it was launching a reinvention of American International Pictures exploitation titles including “Girls in Prison” and “The Brain Eaters” in a 10-picture project within a single movie universe.
Bill Sondheim, president of Cinedigm Entertainment Group, said of the Asylum, “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 by Cinedigm’s Yolanda Macias.