Chris Macgurk: Last News

Cinedigm CEO Chris McGurk says the company plans to buy back up to 10 million shares of its beleaguered stock over the next 12 months as it looks to avoid getting delisted from the Nasdaq.

William Earl Art the Clown is ready to cause more mayhem. Cineverse Corp. announced that it has secured North American rights to slasher sequel “Terrifier 3,” from series writer and director Damien Leone and producer Phil Falcone. The film is scheduled to have a wide theatrical release next year in North America, followed by its exclusive debut on Cineverse’s streaming service Screambox. Produced for less than $250,000, “Terrifier 2” went on to make $15 million at the worldwide box office. It also became a much-discussed viral sensation, as fans took to social media to share the parts that disgusted them most.

McKinley Franklin editor Cineverse and Sid & Marty Krofft Pictures are teaming up to launch the Sid & Marty Krofft Channel, Variety can exclusively reveal. Cineverse, formerly Cinedigm, will manage and operate the channel that will home selections of live-action Krofft shows. Episodes from iconic children’s and fantasy series will stream on the channel, including “H.R. Pufnstuf,” “The Bugaloos,” “Lidsville,” “Sigmund and the Sea Monsters,” “Land of the Lost,” “The Lost Saucer” and “Far Out Space Nuts.”  The deal comes as Cineverse lands rights to distribute Krofft shows across multiple digital platforms as part of a new overall deal. Cineverse will remasterthe library, making it the first time the Krofft shows will be available on digital platforms.

Todd Spangler NY Digital Editor After 10 years as Cinedigm, the streaming and content distribution company is adopting a new moniker: Cineverse. According to the company, which announced the name change Monday, the Cineverse rebranding “is an important step forward” in its “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.” Along with the corporate name change to Cineverse Corp., the company’s stock symbol will also change from CIDM to CNVS. The shares will begin trading on the NASDAQ Capital Market under the “CNVS” ticker at the market opening on May 23.

EXCLUSIVE: As its stock price continues to languish, Cinedigm is following through on its stated plan to rebrand the company, emerging with the new name Cineverse in a bid to convey a long-under-way pivot to streaming.

EXCLUSIVE: Cinedigm and producer Tony DeRosa-Grund (The Conjuring) have partnered to develop a new paranormal horror franchise titled The Haunted.

EXCLUSIVE: Recently launched production company Roundtable Entertainment has received minority investment from streaming company Cinedigm.

Digital media company Cinedigm Corp. is to acquire the Fandor indie film streaming service as it expands its presence in the online space.

By Jill Goldsmith