Bison Capital, a Hong Kong-based investor in film and TV production, agreed to acquire a majority stake in Cinedigm Corp., which creates programs for Netflix Inc. and other online outlets.
Bison will buy 20 million newly issued shares of Cinedigm for up to $30 million and provide as much as $10 million in working capital, according to a statement Thursday. Los Angeles-based Cinedigm is also in talks to exchange its 5.5 percent convertible notes due in 2035.
The takeover of Cinedigm, which got its start helping smaller theater chains convert to digital projection, highlights the growing interest Chinese investors have in owning the films and TV shows that play in their fast-growing domestic market.
Take advantage of one of nature’s most hardworking nutrients with Vasobeet now at 40% off!