Morristown, N.J. - Cinedigm Digital Media Corp. (NASD: CIDM) (formerly AccessIT) announced on Wednesday that it has secured a new eight-year, $8.9 million credit facility, which will be used to fund the deployment of its digital cinema projection systems in Premiere Cinemas theaters.

The company installed over 3,700 digital cinema systems over the past two years during the first phase of its rollout, and ultimately expects to deploy a total of 10,000.

The first 35 systems of its second phase of rollout are expected to be operational in December.

"We are extremely pleased but not surprised to have closed on this initial financing," said Cinedigm chairman and CEO Bud Mayo.

"While the credit markets overall remain largely closed, Cinedigm is a proven business with a strong track record thanks to its Phase 1 plan and was able to secure credit to initiate our next-stage plans."

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