Benzinga | Apr 5, 2021 11:35AM EDT

Cinedigm Acquires Rights To Film STEPS For Undisclosed Sum

* Cinedigm Corp (NASDAQ: CIDM) has acquired North American rights to the inspiring film STEPS to provide healthy and satisfying content to its viewers despite its struggle and loss storyline.

* STEPS, written by Eddie Harris and directed by Rock Davis and Jay Rodriguez, offered a balanced angle at alcoholism, family conflict, peer pressure, and gun violence issues.

* Cinedigm remained focused on consolidating family-friendly content investment, uplifting films on its streaming network Dove Channel.

* The financial terms of the transaction were not disclosed.

* Cinedigm held cash and equivalents of $26.2 million as of Dec. 31, 2020.

* Price action: CIDM shares traded lower by 3.32% at $1.575 on the last check Monday.