Cinedigm Digital Cinema Corp. and Magnet Media Productions announced they have entered into partnership to distribute five feature films over the next three years using Cinedigm's expansive digital distribution and marketing capabilities.

Cinedigm and Universal Studios Home Entertainment have entered into a multi-year agreement whereby Universal will provide comprehensive supply-chain services across North America for Cinedigm's growing DVD and Blu-ray library of independent films, documentaries, TV programs and other content. Cinedigm's existing sales force will continue selling directly to customers. The arrangement encompasses Cinedigm's library of over 5,000 titles which includes award-winning documentaries from Docurama Films(R), next-gen indies from Flatiron Film Company(R) and acclaimed independent films and festival picks through partnerships with the Sundance Institute and Tribeca Film.

Cinedigm Digital Cinema Corp. announced it is revising its annual guidance for fiscal 2013. The company had estimated $91.0-97.0 million in consolidated GAAP revenues; the revised guidance is $87.0-89.0 million. The company had estimated $57.0-59.0 million in consolidated Adjusted EBITDA; revised guidance is $55.0-56.0 million. The company had estimated $6.7-7.7 million in non-deployment Adjusted EBITDA and revised guidance is $4.8-5.2 million. The revision is due to delayed delivery and customer product acceptance related to approximately $2.5 million in software revenues, with almost $2.0 million related to a contract with a major studio customer. An expanded scope has required the Company to discuss a contract amendment and expansion and pushed its delivery into late Fiscal 2014. This delay in product completion also pushed new sales and revenue recognition with other existing studio customers into fiscal year 2014. Additionally, as reported previously, virtual print fee revenues and EBITDA were reduced by approximately $2.0 million in the summer of 2012 as major studios shifted their release schedules due to the Summer Olympics and issues surrounding the Aurora shootings. In addition, based on its strong release slate, library growth and newly launched digital channels, the company expects Entertainment revenues to more than double in fiscal year 2014.