Brief: Cinedigm Agrees To Purchase 29% Stake In Leading Chinese Entertainment Company Starrise Media

A Metaverse Co

19/12/2019 14:37

Dec 19 (Reuters) - Cinedigm Corp  CIDM.O :
    * CINEDIGM AGREES TO PURCHASE 29% STAKE IN LEADING CHINESE
ENTERTAINMENT COMPANY STARRISE MEDIA
    * CINEDIGM CORP - ALL-STOCK PURCHASE IS EXPECTED TO CLOSE IN
Q1 OF
CALENDAR 2020
    * CINEDIGM - WILL PURCHASE ABOUT 29% OF STARRISE'S SHARES
FROM TWO
MAJOR SHAREHOLDERS IN EXCHANGE FOR SHARES OF CINEDIGM'S CLASS A
COMMON STOCK
    * CINEDIGM - THROUGH DEAL, CINEDIGM WILL INCREASE ITS
PRESENCE AND
LEVERAGE IN BOTH CHINESE AND NORTH AMERICAN ENTERTAINMENT
MARKETS
    * CINEDIGM CORP - BISON CAPITAL AND RELATED ENTITIES WILL
INCREASE
THEIR INVESTMENT AND OWNERSHIP LEVELS IN CINEDIGM.

Source text for Eikon:  ID:nGNXj8ndf 
Further company coverage:  CIDM.O 

 ((Reuters.Briefs@thomsonreuters.com;))