Cinedigm approves repurchase program for up to 10M shares

Cinedigm announced that the company’s board of directors has approved a stock repurchase program to purchase up to an aggregate of 10M shares of its outstanding Class A common stock. The stock repurchase program will expire on March 1, 2024, unless otherwise modified by the board. "This stock repurchase program, which is effective immediately, is a testimonial to the unwavering confidence the board and management of Cinedigm has in the future of the company and the considerably undervalued price of our common stock. We are on a strategic path that will differentiate us from all others in our industry and produce sustained profitability and growth. We see this stock repurchase program as an exceptional investment opportunity that will further enhance the value of our company in the years ahead," said Chris McGurk, Chairman and CEO of Cinedigm.