Cinedigm Stockholders Approve Bison Transaction

LOS ANGELES–(BUSINESS WIRE)–Cinedigm Corp. (NASDAQ: CIDM) announced today that the proposal included
in its recent proxy to issue 20,000,000 shares to sell to Bison
Entertainment Investment Limited, the wholly owned subsidiary of Bison
Holding Company Ltd. (“Bison Capital”), has been approved by the
Company’s stockholders at their annual meeting. The Company has agreed
to sell to Bison Capital 20,000,000 shares (the “Shares”) of Cinedigm’s
Class A common stock, par value $0.001 per share, for an aggregate
purchase price of up to $30,000,000, of which up to 400,000 of the
Shares may be sold to members of the Company’s management instead of
Bison Capital.

The transaction, when consummated, will result in Bison having majority
voting control of Cinedigm and 2 of 7 seats on the Cinedigm Board of
Directors.

Chris McGurk, Cinedigm Chairman and Chief Executive Officer, noted, “We
believe this transaction with Bison will be game changing for Cinedigm
as it will create multiple significant financial, strategic and
operational opportunities for the Company.”

The Bison transaction is subject to certain other approvals including
CFIUS review (Committee on Foreign Investment in the United States).

About Cinedigm:

Cinedigm powers custom content solutions to the world’s largest retail,
media and technology companies. We provide premium feature films and
series to digital platforms including iTunes, Netflix, and Amazon, cable
and satellite providers including Comcast, Dish Network and DirecTV, and
major retailers including Walmart and Target. Leveraging Cinedigm’s
unique capabilities, content and technology, the Company has emerged as
a leader in the fast-growing over-the-top (OTT) channel business, with
four channels under management that reach hundreds of millions of
devices while also providing premium content and service expertise to
the entire OTT ecosystem. Learn more about Cinedigm at www.cinedigm.com.

www.cinedigm.com.
[CIDM-E]

Contacts

Cinedigm Corporation
Jill Newhouse Calcaterra, 310-466-5135
jcalcaterra@cinedigm.com