
Peter C. Brown Nominated to Cinedigm Digital Cinema
Corp. Board of Directors
July 29, 2010
Source: Cinedigm
Former Chairman and
CEO of AMC Entertainment to Stand for Election at September
2010 Annual Meeting; Plans to Make Significant Investment
in Company
Cinedigm Digital Cinema Corp. announced
that the Board of Directors has nominated Peter C. Brown to
stand for election as a member of the Company's Board.
Mr. Brown is listed as a nominee as a Director in the Company's
2010 Proxy Statement, and if elected will commence his term
as of the Company's Annual Meeting of Shareholders, scheduled
for September 14, 2010.
Mr. Brown, 51, is the founder and Chairman of Grassmere Partners,
LLC, a private investment firm. From 1990 through his retirement
in 2009, Mr. Brown was employed by AMC Entertainment, Inc.,
one of the world's leading theatrical exhibition and entertainment
companies, and served as Chairman of the Board, Chief Executive
Officer and President from July 1999 through 2009.
Mr. Brown also founded Entertainment Properties Trust, a NYSE-listed
real estate investment trust, in 1997 and served as its Chairman
of the Board of Trustees until 2003 and is currently a member
of the Board.
"We are thrilled to nominate Peter Brown to our Board
of Directors," said Bud Mayo, Chairman of the Board of
Cinedigm and recently retired CEO. "Peter will bring
exceptional industry experience, knowledge and relations to
Cinedigm. Our Company is devoted to broadening relationships
with existing and prospective exhibition and entertainment
partners, by creating new and rewarding strategies in the
rapidly growing digital cinema industry."
"We are excited by Peter's interest in joining our Board,
as demonstrated by his insight and counsel to date, his passion
for our business, and his intention to make a substantial
investment in our Company. His reputation and relationships
within the movie and entertainment industry are exceptional.
Peter has a strong belief in the content opportunities created
by digital cinema and his input will accelerate our already
strong momentum as a Company," added Adam M. Mizel and
Gary S. Loffredo, interim co-CEOs.
As a further reflection of his support of Cinedigm and to
align his interests with shareholders, Mr. Brown has committed
through Grassmere Partners, LLC to purchase $500,000 in Class
A common stock of Cinedigm, at the trailing 20 day average
share price of $1.44 per share.
Mr. Brown currently serves as a director of CenturyLink, a
Fortune 500 provider of voice, broadband and video services
in 33 states. He is also on the board of Entertainment Properties
Trust (NYSE: EPR) a real estate investment trust (REIT) that
develops, owns, leases and finances properties for consumer-preferred,
high-quality businesses.
Past additional public company boards include: National CineMedia,
Inc. and Midway Games, Inc. He currently serves and has served
on numerous community and civic boards. Mr. Brown is a graduate
of the University of Kansas.
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