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Cinedigm Signs 12-Picture, 3-Year Deal With ‘Sharknado’ Creators Asylum

Deal between entertainment company and low-budget film studio involves four high-concept movies each year

Cinedigm and The Asylum signed a 12-picture, three-year deal on Thursday, with the expectation of four high-concept, market-driven films to be released annually.

As part of the deal, Cinedigm acquires all North American rights to the films, including theatrical, digital, video-on-demand and various over-the-top (“OTT”) digital networks, which include CONtv, targeted to the Comic Con audience.

The deal was negotiated on behalf of The Asylum by David Garber and Cinedigm’s Yolanda Macias.

The Asylum, lead by David Michael Latt, Paul Bales and David Rimawi, focuses on high-concept, market-driven motion pictures like the popular “Sharknado” franchise. It produces and releases 20-25 films per year, many of which debut on cable or video-on-demand.

“Cinedigm is the perfect partner because they truly understand the appeal of our brand of entertainment and how to reach this audience,” Latt said in a statement. “Given their successful release of the Sharknado franchise and our other properties, we look forward to repeating this success with these custom made projects.”

“We have worked with Asylum for many years and have always been in awe of the creative minds of the Davids and Paul,” Bill Sondheim, President of Cinedigm Entertainment Group added. “They have their fingers on the pulse of consumers, delivering fun and marketable evergreen films that work well on all platforms, from physical to digital to OTT. We know this is going to be a great partnership.”