TORONTO, May 6 /PRNewswire/ - Cinram International Income Fund ("Cinram" or the "Fund") (TSX: CRW.UN) announced today it has signed a multi-year agreement with Relativity Media to serve as the company's exclusive replicator for DVD and Blu-ray products.
"We're excited to join forces with Relativity Media, a stellar entertainment company with a distinguished mark of excellence," said Steve Brown, Chief Executive Office, Cinram International, Inc. "Even as we direct resources to providing new digital services, this new relationship signifies there still is a demand for traditional services in the supply chain."
The agreement marks a new partnership between Cinram, one of the world's largest manufacturers and distributors of packaged media, and Relativity Media, a next-generation studio engaged in multiple aspects of entertainment including full-scale film and television production and distribution, the co-financing of major studio film slates and digital media. Thirty-six of Relativity's films have opened to # 1 at the box-office, and 55 have each generated more than $100 million in worldwide box-office receipts. Accumulated, the company's slate of films has earned $15 billion in box office revenue across the globe.
"Cinram's reputation and capabilities are well recognized across the industry," said Steve Bertram, COO & CFO of Relativity Media. "They demonstrate a strong commitment to their customers and to the quality of their work. We're pleased to be working together in this capacity and look forward to a long partnership."
Relativity currently has the box office hit Limitless in theaters. Upcoming films for Relativity include: Judy Moody and the NOT Bummer Summer, Shark Night 3-D, Anonymous, Bridesmaids, Cowboys & Aliens and Immortals. Relativity's recent films include: Hop, Battle: Los Angeles, Season of the Witch, Little Fockers, The Fighter, The Social Network, Salt, Despicable Me, Grown Ups, Dear John, It's Complicated, Couples Retreat and Zombieland, among many others.
In addition to its replication and distribution services for studios, music labels and publishers, Cinram's new Digital Media Group specializes in building enhanced consumer experiences. Through their subsidiary 1K|Studios, they provide creative and technical services to help media and technology companies release content in different venues including digital downloads, mobile and tablet apps, advanced Blu-ray discs, stereoscopic 3D and social media. With these services integrated with their existing media production and logistics business, Cinram is favorably positioned as a single point of contact and end-to-end supply chain for its customers.
About Cinram
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is one of the world's largest providers of pre-recorded multimedia products and related logistics services. With facilities in North America and Europe, Cinram International Inc. manufactures and distributes pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. Cinram now also provides distribution and logistics services to the telecommunications industry in North Americathrough its wireless subsidiaries. The Fund's units are listed on the Toronto Stock Exchange under the symbol CRW.UN. The Cinram group of companies now also incorporates 1K Studios, a digital media firm based in Los Angeles specializing in building enhanced consumer experiences for movies, TV shows, music, books and games. For more information, visit www.cinram.com .
Certain statements included in this release constitute "forward-looking statements" within the meaning of applicable securities laws. Such forward-looking statements include statements concerning the possible effects of the transactions described herein, and the likelihood of their successful completion. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund, or results of the multimedia duplication/ replication industry, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: the Fund's ability to retain major customers; general economic and business conditions, which will, among other things, impact the demand for the Fund's products and services; multimedia replication industry conditions and capacity; the ability of the Fund to implement its business strategy; the Fund's ability to invest successfully in new technologies and other factors which are described in the Fund's filings with the securities commissions. These risks may affect the achievement of the expected results of the transactions described herein. There can be no assurance that the said transactions will be successfully completed or that, if completed, the expected consequences will result in whole or in part, and the deviations from such expectations may be material.
SOURCE Cinram International Income Fund
