Business
Cinedigm Rebrands to Cineverse
New Brand Marks the Transformation to a Pure-play Streaming Entertainment Content and Technology Company Reimagining the Entertainment Experience LOS ANGELES,
About this update from Cineverse Corp.
[{"type":"text","content":"New Brand Marks the Transformation to a Pure-play Streaming Entertainment Content and Technology Company Reimagining the Entertainment Experience\nLOS ANGELES, May 22, 2023 /PRNewswire/ -- Cinedigm Corp. (NASDAQ: CIDM) today announced it is rebranding to Cineverse, a global streaming technology and entertainment company with one of the world's largest portfolios of owned and operated streaming channels.\n\n \n \n \n \n \n \n\n \nAlong with the corporate name change to Cineverse Corp., the Company's stock symbol will also change from CIDM to CNVS; its shares will commence trading on the NASDAQ Capital Market under the new stock symbol \"CNVS\" at the market opening on May 23, 2023. All stock trading, filings and market-related information will be reported under the new stock symbol going forward.\nThe corporate name change is an important step forward in the Company's evolution into a streaming content and technology company – focused on transforming the way people discover and interact with a universe of films, television series and other streamed content all bound together by compelling and innovative storytelling.\nChris McGurk, Chairman and CEO of Cineverse, stated, \"We have come a very long way from the Cinedigm of 10 years ago, which specialized in digital innovation within the cinema industry. Today we officially turn the page to become Cineverse, a pure-play business in the exciting and dynamic streaming content and technology space. Our mission is to give audiences a level of access like never before to the vast universe of film and television entertainment through the power of our proprietary technology and the breadth of our content offerings. We plan to continue expanding our media library, currently at over 60,000 titles and growing rapidly, so that we have more compelling content and streaming channels to offer audiences than any other player in the entertainment business. Our recent investments and acquisitions have enabled us to become a leader across multiple entertainment genres, spanning Anime and Asian entertainment, to faith & family, horror, independent film and many other genres.\"\nMcGurk continued, \"Having now fully moved beyond our legacy digital cinema business at the end of our last fiscal year ended March 31, 2023, we believe a new company name more accurately reflects our business and brand as it s...