Cinedigm Plans New Board Structure

Los Angeles-based digital content distribution provider Cinedigm says this morning that it is in an effort to expand and reconfigure its board of directors, and is looking to add from two to four new directors and a new Chairman. The company says it has engaged search firm Korn Ferry in the effort. Cinedigm said the company is specifically looking for board members from the areas of television, over-the-top television, social media, marketing, entertainment, capital markets, and related areas. The move comes after a complex $60M borrowing deal and record low stock prices at the publicly traded company.