Why Cinedigm Stock Jumped Thursday
Shares of Cinedigm (NASDAQ: CIDM), a provider of premium streaming content, jumped 16% on Thursday. The stock's gain followed two important deals for the company over the last few days, including a partnership to launch a new over-the-top (OTT) TV service with LiveXLive (NASDAQ: LIVX) and the debut of one of Cinedigm's TV series on Fox's (NASDAQ: FOX) (NASDAQ: FOXA) ad-supported service Tubi.
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On Tuesday, Cinedigm announced a partnership with LiveXLive to launch a new LiveXLive-branded streaming OTT channel for U.S. and international markets. "Cinedigm will secure international licensing and distribution of the channel on LiveXLive's behalf," the company said in a press release.
Source Fool.com
