Digital Cinema Destinations Corp. (Digiplex) Signs Asset Purchase Agreements to Acquire Seven West Coast-Based Theaters with 74 Screens from UltraStar Cinemas

WESTFIELD, N.J. & VISTA, Calif.--(BUSINESS WIRE)--Digital Cinema Destinations Corp. (NasdaqCM: DCIN), a fast-growing motion picture exhibitor dedicated to transforming movie theaters into digital entertainment centers, today announced that, together with its new joint venture partner, Start Media, LLC, it arranged the signing of Asset Purchase Agreements (APAs) for the proposed acquisition of seven movie theaters with an aggregate of 74 fully digital screens from UltraStar Cinemas. Six of the theaters are located in the Southern California/San Diego market and the seventh is based near Phoenix, AZ. The acquisitions are targeted to be consummated by the new joint venture (JV), Start Media/Digiplex, LLC, on December 14, 2012, subject to customary closing conditions. If the acquisitions are completed, Digiplex’s circuit would expand from 9 to 16 locations with 159 screens located in CA, PA, CT, NJ and AZ.