Cinedigm Corp. (NASDAQ: CIDM) rose sharply Thursday, on executing a distribution partnership agreement with. Frndly TV.
Cinedigm is the parent company of the Dove Channel, and the deal, announced Monday, brings Dove Channel's movies and iconic TV series - including favorites such as The Lucy Show, Gumby, The Little Rascals and Madeline - to Frndly TV customers.
"We are very pleased to add a great service like the Dove Channel to our lineup," said Michael McKenna, Chief Programmer Officer of Frndly TV. "Dove Channel's extensive programming is a perfect fit for our goal of bringing to market family-friendly TV at a family-friendly price."
Said Erick Opeka, President and CSO of Cinedigm Networks: "There could not be a more perfect fit than Dove Channel on Frndly TV. Both were created with the mission of providing positive, family-oriented entertainment. Cinedigm is focused on delivering enthusiast audiences with content they're passionate about and our partnership with Frndly TV underscores that notion of family safe programming."
Moreover, investors are speculating that the media company could become an NFT play. NFTs stands for non-fungible tokens and they’re a form of cryptocurrency token used by people to buy and sell art online. The tokens are unique and have the support of blockchain, allowing for them to not be duplicated. They can be used to represent both digital and real-world art.
CIDM rumbled ahead 36 cents, or 22.2%, to 1.98.
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