EXCLUSIVE: Recently launched production company Roundtable Entertainment has received minority investment from streaming company Cinedigm.
As part of the deal the companies will co-finance and co-own the IP of original films to be distributed domestically on Cinedigm’s OTT networks and on other third-party streaming platforms.
The partnership also plans to launch streaming channels together. Erick Opeka, Cinedigm’s President and Chief Strategy Officer, will be taking a seat on Roundtable’s Board of Directors, joining President and CEO Dominic Ianno, Robert Norton and James Fields of Klingenstein Fields Advisors.
The partnership kicks off with a 10-picture, $15M thriller slate, led by All My Friends Are Dead, directed by Kevin Greutert, director and editor on multiple Saw movies. The film will tell the tale of a group of close college friends who get a great deal on a killer Airbnb for the biggest music festival of the year. A weekend of partying quickly takes a turn for the worse, as the group is murdered one by one. They soon discover that each death directly corresponds to one of the Seven Deadly Sins. The film will be produced by John Baldecchi, (Happy Death Day) and executive-produced by Dominic Ianno (Soul Surfer), with Ingenious Media providing production funding.
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The 10-picture slate deal was negotiated by Yolanda Macias, Chief Content Officer at Cinedigm, and Interim Chief Business Officer Robert Norton on behalf of Roundtable.
Cinedigm Chairman and CEO Chris McGurk stated: “Roundtable’s established creative relationships, IP development expertise and co-financing abilities are the perfect complement to Cinedigm’s core distribution strengths. This partnership will produce premium content and launch high profile branded enthusiast streaming channels to further expand Cinedigm’s high-growth and rapidly-expanding streaming business in a low cost, capital-efficient and high return manner.”
Roundtable’s Dominic Ianno commented: “In today’s competitive marketplace, Cinedigm is uniquely positioned as a cutting edge next-generation streamer focused on youth markets to bring top-tier digital distribution and monetize these exciting movies. Cinedigm’s financial strength, distribution muscle and technology leadership will allow us to efficiently and profitably make movies and launch streaming channels together for many years to come. Expect further announcements regarding our streaming channel partnership with Cinedigm soon as well as our company bringing compelling new premium formats and IP to market in the future.”
John Baldecchi, Roundtable Entertainment’s Head of Scripted, added: “We are thrilled to be partnering with Cinedigm. This well-structured slate of efficiently budgeted and high-impact films targeting specific genres were chosen for its youth and commercial appeal and packaged to find success with a global audience. Having access to the Cinedigm library to source future IP will also help build value for both companies in a cost-effective manner.”
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