Film-Tech Forum ARCHIVE: AccessIT changes name to Cinedigm

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Posted by Todd McCracken (Member # 4718) on 11-25-2008, 06:46 PM:

Hi,
In the hopes of making this an easy transition I thought I would post about the name change. If you contact the NOC and we answer Cinedigm (pronounced Cine-dime) or your staff recives a call about content or equipment from Cinedigm please be aware that we have changed our moniker.
All prior emails and contact information will work just fine durring the transition. [Smile]

MORRISTOWN, NJ -- (Marketwire) -- 11/25/08 -- Access Integrated Technologies, Inc. (the "Company") (NASDAQ: AIXD) announced today that it will be changing its name to Cinedigm Digital Cinema Corp. (Cinedigm). The Company is the global leader in providing the technology and services that enable movie theaters to convert to digital cinema exhibition. This conversion allows for significantly expanded possibilities for big-screen theater-based entertainment, including live performances and events in 3-D.

The Company's new name and identity is designed to better represent the Company's leading position in the new paradigm in cinema entertainment made possible by its technology and services. The change also corresponds to the Company's leading industry role in digital cinema and continued expansion of its footprint with the next 10,000 screens that the Company expects to bring online with its unique nationwide satellite platform.

"It's time that we had a brand that more accurately captures the real promise of what we offer," said Bud Mayo, the Company's Chairman and CEO. "Our platform takes the movie-going experience beyond cinema, allowing studios, theatres and content-creators to enhance and expand the kinds of content they can provide to consumers."

Mayo continued, "We have successfully brought true digital cinema to over 3,700 screens in the U.S. and are preparing to almost triple that number over the coming few years. Digital cinema is a terrific opportunity for the industry and enables a wonderfully improved experience for consumers, so we are very excited about what's ahead for our business and industry."

Posted by Chris Slycord (Member # 4239) on 11-25-2008, 08:53 PM:

quote: Todd McCracken
Mayo continued, "We have successfully brought true digital cinema to over 3,700 screens in the U.S.

Opposed to successfully bringing "fake digital cinema"?

Posted by Ken Lackner (Member # 1002) on 11-25-2008, 09:08 PM:

Only if you're a fake Dream Theater fan.

[Big Grin]

Posted by Chris Slycord (Member # 4239) on 11-25-2008, 09:30 PM:

[Smile]

Touché

Posted by Mike Blakesley (Member # 26) on 11-25-2008, 09:41 PM:

So they decided to go from one name that people kept mispronouncing (I don't know how many times I heard "Access It") to a new name that requires a phonetic pronunciation guide? I would think in this bad financial era they wouldn't want to go to all the expense of name change.

Posted by Tristan Lane (Member # 1169) on 11-25-2008, 10:28 PM:

Access It changes name to Cine dig em'. [Wink]

Reminds me of when I hear people pronounce paradigm in the same way above.

I'm glad to see that they want to associate their name with cinema, but wouldn't it have been easier to just add "cinema" to the end of their current name? Doremi, Sony, and Dolby all use a variation of that to maintain brand recognition. I would think that Cinedigm would be starting off at the bottom again in regards to brand recognition.

Posted by Ken Lackner (Member # 1002) on 11-26-2008, 04:52 AM:

quote: Mike Blakesley
I don't know how many times I heard "Access It"

Are you serious? I can't say I have ever heard that. That's funny.

Posted by Scott Norwood (Member # 30) on 11-26-2008, 05:06 AM:

Maybe this will help the stock price. (Sorry...had to.)

Posted by Steve Guttag (Member # 268) on 11-26-2008, 07:16 AM:

Nope...it is down to $.67...One normally doesn't see stocks below $1.

Posted by Mark Gulbrandsen (Member # 72) on 11-26-2008, 09:26 AM:

Yea, someone else in this industry recently changed their name to "make things all better" just like these guys did. The name is certainly pretty stupid though... kinda reminds me of that scene in Get Smart where none of the agents could pronounce the spy's name properly... Of course our billionaire friend in Ohmaha would be telling us all to buy now (GM and Ford too) while it's cheap!

Mark

Posted by Bobby Henderson (Member # 840) on 11-26-2008, 10:06 AM:

Does this mean we'll soon start seeing that "Cinedigm" name in those commercials on HDNet?

I don't really understand why AccessIT was running commercials on HDNet in the first place. It's not like any average consumers out in TV land could buy any consumer electronics or networking gear from AccessIT. And the digital cinema system they're selling doesn't exactly have a memorable brand name unifying the whole system. Texas Instruments and DLP are the main things regular people could identify at the theater, although the Christie Projection trailer is kind of cool.

Posted by Louis Bornwasser (Member # 3063) on 11-26-2008, 04:39 PM:

With stock at 67 cents, it may not matter much longer. (A name change would be irrevalent.) Louis

Posted by James Westbrook (Member # 3690) on 11-26-2008, 04:59 PM:

"Cine-Dim."

Posted by Frank Angel (Member # 248) on 11-27-2008, 07:18 AM:

quote: Todd McCracken
Mayo continued, "We have successfully brought true digital cinema to over 3,700 screens in the U.S. and are preparing to almost triple that number over the coming few years.

It always seemed a bit presumptious when a manufacturer predicts how many units they are going to sell. This always struck me as odd language which had been used with each of the digital rollouts (all of them) -- manufactures can "rollout" as much product as they want, but it's the buyer who determins if they are going to "roll in" any of the product or not. These rollouts all depend on customer demand, not equipment sellers' product availability. Tripling the number of units they hope to sell is only that -- wishfull thinking.

It really depends if there will be that many more theatres out there, especially in these uncertain economic times, willing to buy that many more digital installs and more importantly, able to find banks willing to finance them. The manufacturer can "prepare to almost triple that number over the coming years" all they want, but if theatres decide they don't want to buy digital over the coming few years, there isn't much AccessIt...er...Cin-dig-it-ty-dig-it-ty can do about it. Sales are always determined buy the consumer, not by the manufacturer's sales dreams. Just ask Ford or GM.

And I agree with Mike, these suits are just idiots if they are going to do a name change now in these very uncertain economic times -- it's a VERY costly expense when the company stocks are selling under a $1 -- sheer stupidity. Stockholders should fire the bunch of them. A name change gets them nothing of tangible benefit only another huge cost for a company that looks like it can barely can afford donuts and coffee service for the conference room. It's a vanity move designed to makes people think it's a "happening" company. Yah, happening right into the toilet.

Posted by Louis Bornwasser (Member # 3063) on 11-27-2008, 11:08 AM:

Doughnuts, coffee, raises, bonuses are never cut for executives; only for the worker-bees. (If you look at a business structure you only have: sales, counters-of-money, production, and management.)You maximize sales and production and MINIMIZE the cost of management and financial. Those who fail to do so pass quietly in the night. Louis

Posted by Tim Reed (Member # 137) on 11-28-2008, 10:15 AM:

Well, let's not slam them too much and run another corporate off the forum.

Since I am probably the only one here who has ever used "paradigm" to describe the change to Digital Cinema, I think it's a cool name.

I don't know about the timing and costs involved with a name change. It's probably because of the financial situation that they're going forth with this - for better recognition. It's not like they've got signage at 3,000 drive-thru windows to replace. Maybe some letterhead. After all, as with so many other IT outfits, they had a name that didn't mean anything, like "Amalgamated General." I've always thought those kinds of nonsense names were merely ego strokes to the principals, who want to sound important and "corporate." At least this name hints at what they do. With stock under a dollar they run the risk of being delisted, so it was probably a good move.

Posted by Mark Gulbrandsen (Member # 72) on 11-28-2008, 01:25 PM:

quote: Tim Reed
It's not like they've got signage at 3,000 drive-thru windows to replace.

What name they use doesn't matter to me! But they do have to change the sinage on over 7000 theaters screens... AND its up to the dummies running those booths to actually understand they've changed their name and discontinue the use of Access-IT and insert the new one. That part will be far far more difficult!

I still say its a good time to buy their stock. At least it does have a chance of going back up over the next several years... and you wouldn't be out very much if they lost!

Mark

Posted by Frank Angel (Member # 248) on 11-28-2008, 01:43 PM:

The "gas company" here in Brooklyn has changed its name three times in the past decade, and for no good reason. Every time they changed, it costed the customers $$. They had to change the signage on their fleet of trucks, all the letterheads and bills and who knows what else, and for what? We can't buy our gas from any other vendor, it's a monopoly so recognition is irrelevant. The maddening thing is, each successive name got more obtuse. Originally it was Brooklyn Union Gas. You knew exactly what that was and what they sold. Then for some mysterious reason, they changed it to Keyspan. Which means nothing. And just recently they decided they needed to call themselves National Grid. Every one of these costly changes is paid for by the customers who have no choice but to buy from this one company, regardless of what they call themselves.

Posted by Tim Reed (Member # 137) on 11-28-2008, 03:57 PM:

quote: Mark Gulbrandsen
they do have to change the sinage on over 7000 theaters screens

They DO? They have signage in the theatres?! Well, then... they should just take them down, as that makes no difference to audiences and generates no income.

Posted by Kat Baggett (Member # 1154) on 11-28-2008, 04:00 PM:

Way to go for the planning department. I just got the new DVD's for the Unique Screen Media stuff AKA Preflix on Monday....so I guess I should be looking for another package soon.

Kat

Posted by John Hawkinson (Member # 1135) on 11-29-2008, 03:41 PM:

I also think Cinedigm is a much better name than AccessIT. AccessIT always made me think of a bad corporate IT department set loose on the world.

Frank, your gas company's behavior is actually not so unreasonable. Keyspan was formed by the merger of Brooklyn Union Gas and the Long Island Lighting Company. Companies that merge do like to pick a single name and stick with it, because branding is important to them, and also because having a call center that answers the phone two different ways causes complications, as does sending out two different kinds of bills, etc., etc.

Keyspan was bought by National Grid, which of course resulted in more name changes. But really, these costs are a drop in the bucket. It's like a patron complaining about your theatre showing too many Studio X movies because Studio X takes a higher percentage of the gross [Smile]

--jhawk

Posted by Bobby Henderson (Member # 840) on 11-29-2008, 07:17 PM:

I visited the Cinedigm website. If the company's logo is really going to be no more than the name set all capitals in Helvetica Black then they might as well not bother with any freaking signs. It's just freaking generic to a very plain vanilla extreme.

I'll give them points for getting rid of the previous logo and the very out of date graphical motif of a "swoosh". Nike is about the only company I can think of that has any business using a "swoosh" in its logo.

Cinedigm really needs to do something. And it would be nice if the logo wasn't a goofy looking, way too sci-fi looking cliché either.

Dolby is not beyond criticism with its new logo scheme. At least they're not getting rid of the "double d" icon -that would be very crazy. Although I really don't like them filling in the vertical line between the blocks holding inverse "D" characters.

Posted by Mark Gulbrandsen (Member # 72) on 11-29-2008, 08:38 PM:

Guys,

The sinage consists of headers run before the film.... not a sign in the theater proper. Geez!

Posted by Adam Martin (Member # 641) on 11-29-2008, 09:42 PM:

OMG they're going to spend sooooooo much money changing 7000 video files!

Posted by Steve Guttag (Member # 268) on 11-30-2008, 11:05 AM:

Alas...with the name change...they are down to $.66

So here is where Access IT finsihed up:

And now after the name change...

They are down to 50-cents as of 12/10/08.

[edited to update stocks]

[ 12-10-2008, 04:02 PM: Message edited by: Steve Guttag ]

Posted by Steven J Hart (Member # 2340) on 12-11-2008, 06:41 PM:

quote: Steve Guttag
They are down to 50-cents as of 12/10/08.

Yowza! makes me a little nervous that this is the company that is supposed to be bringing my theater into the world of DC through their deal with the CBG!!!!

Posted by Bobby Henderson (Member # 840) on 12-11-2008, 07:29 PM:

I'm wondering if the really crappy situation in the broader economy and overall frozen credit market is partly to blame for the Cinedigm/AccessIT stock slide. Granted, I don't know how the company's books look. They may have a debt to earnings ratio that is a complete disaster. At any rate, a lot of very good, well run companies have seen their stock plummet to very over-sold levels.

If the stock market could just establish some kind of "bottom" everyone feels like they could trust we would have a major rebound. I'm trying to decide whether I'm going to increase the amount of money I'm throwing into stocks and my mutual fund.

quote:
The sinage consists of headers run before the film.... not a sign in the theater proper. Geez!

Actually, AccessIT did install a lot of plaques on auditorium doors at many Carmike locations. Don't know if they did the same at other circuits like Rave.

Posted by Mark Gulbrandsen (Member # 72) on 12-12-2008, 08:38 AM:

quote: Bobby Henderson
At any rate, a lot of very good, well run companies have seen their stock plummet to very over-sold levels.

Yes! And when the economy is down it is the best time to buy stocks. Buy low but carefully and in 5 to 10 years reap the benefits....Buy...Buy...Buy!

Posted by Steve Guttag (Member # 268) on 12-12-2008, 10:14 AM:

I don't think Access IT's problem was this economy though it certainly is hurting, as all companies are, from it now.

Here is their last three years. You'd be hard pressed to see where their trend changed due to the more recent economic problems happened.

There just isn't going to be any more ticket sales because of a digital projector unless artificial means are used (restrict movie availability to theatres so equipped)...but again, that hurts the industry as a whole. Like with red-readers, exhibitors pay the bill for someone else to save money....with DCinema...it is a much bigger bill.

Steve

Posted by Bill Enos (Member # 440) on 12-18-2008, 04:25 PM:

Once the stock price drops below $1.00 most exchanges will delist a stock after a specified period of time. NYSE has given Circuit City till April to get back to a dollar or it will be dropped.

Posted by Dustin Mitchell (Member # 372) on 12-18-2008, 04:43 PM:

quote:
Guys,

The sinage consists of headers run before the film.... not a sign in the theater proper. Geez!

We actually have plaques outside the auditoriums featuring the Christie, DLP, and AccessIT logos (on one sing, not three). I'm not holding my breath while we wait for replacements.

Posted by Steve Guttag (Member # 268) on 12-21-2008, 09:18 AM:

AccessIT...er Cinedigm stock prices are now down to 39-cents. Just think, if you invested at the name change at the low-low price of 67-cents or so...you'd have already lost nearly 42% of your investment.

And remember, these guys are the biggest deployment company in DCinema.

Steve

[ 12-21-2008, 11:14 AM: Message edited by: Steve Guttag ]

Posted by Tim Reed (Member # 137) on 12-21-2008, 11:40 AM:

quote: Mark G.
Guys,

The sinage consists of headers run before the film.... not a sign in the theater proper. Geez!

Do you have Oppositional Defiance Disorder?

Why did you chime-in with "they have signage to change at x-amount of theatres" when I said, "It's not like they have to change signage at 3,000 drive-thru windows"? You just made my point in this last post - the one you originally tried to contradict.

Changing a logo snipe could involve re-rendering ONE jpeg file and replicating it on the next drive going to the theatre! [uhoh]

Posted by Mark Gulbrandsen (Member # 72) on 12-24-2008, 07:05 AM:

Tim, Actually changing sinage at 3000 drive throughs might be easier... All you do is take the sign down and re-arrange the letters and put it back up! The Access-IT signs literally have to be changed out or taken down to "make the change legal"... and there ARE way more than 3000 of them!

Mark

Posted by Steve Guttag (Member # 268) on 01-01-2009, 07:43 PM:

Cinedigm rallied on the last day of 2008...going from an all time low of 32-cents to finish the year at 37-cents!

Posted by Robert LaValley (Member # 4319) on 01-03-2009, 07:45 PM:

Box office person said I had a phone call from "cinebag". I couldn't stop laughing. [Big Grin]

Posted by Steve Guttag (Member # 268) on 01-14-2009, 05:14 PM:

CIDM update...this week has been good for them (relatively speaking)...they hit a high of around 91-cents and at this writing, are at 71-cents. So, if you bought when they were at their low of near 30-cents...you could have doubled your money by now in just a week or two's time.

Steve