Cineverse secures digital rights to Highlander series

LOS ANGELES - Cineverse (NASDAQ: CNVS), an entertainment studio whose stock has surged over 360% in the past six months, has expanded its partnership with Davis-Panzer Productions, Inc., obtaining digital rights for the Highlander film and television franchise, along with other titles from the Davis-Panzer catalog.

The deal encompasses a multi-year and multi-territory agreement, granting Cineverse rights to nine titles. The collection will be available on Cineverse streaming services, including Midnight Pulp, and other digital platforms. The Highlander franchise, which began in 1986, gained a global following and spawned multiple sequels and a television series. A reboot of the original film is currently in development. According to InvestingPro, analysts expect Cineverse’s sales to grow significantly this year, potentially benefiting from such strategic content acquisitions.

Cineverse’s Chief Content Officer, Yolanda Macias, expressed excitement over the partnership, particularly with the upcoming Highlander film reboot. The agreement comes as the franchise approaches its 40th anniversary and the production of the new film, which will star Henry Cavill under the direction of Chad Stahelski.

Davis Panzer Productions’ Priscilla Panzer and Katia Vitale Davis see the collaboration as an opportunity to bring their stories to both long-time fans and new audiences, while honoring the legacy of the company’s founders, Peter Davis and Bill Panzer.

Cineverse is known for its wide array of content and innovative technology, distributing over 71,000 premium films, series, and podcasts. With a market capitalization of $68 million and annual revenue of $45 million, the company aims to connect fans with independent stories and has properties that include the highest-grossing non-rated film in U.S. history, streaming fandom channels, and a premier podcast network. InvestingPro subscribers can access 10+ additional insights about Cineverse’s financial health and growth prospects.

This expansion of Cineverse’s digital rights portfolio is based on a press release statement and aims to enhance the company’s offerings to its streaming audience.

In other recent news, Cineverse Corp. has been making significant strides in its business operations. The company’s recent pivot to film distribution has been successful, with the release of ’Terrifier 3,’ which Benchmark analyst Daniel L. Kurnos has termed "the greatest unrated horror film of all time." This shift in operations has been a transformative event for the company, potentially marking a turning point in its growth trajectory.

In addition, Cineverse’s upcoming financial results for the third fiscal quarter are eagerly anticipated. The company is expected to have a record year with significant cash flow and no debt. These financial prospects have led Benchmark to maintain a Speculative Buy rating and a $10.00 price target on Cineverse shares.

The company’s future appears promising with films such as ’Silent Night Deadly Night’ and ’Toxic Avenger’ slated for distribution in the fiscal year 2026. The growth of Cineverse’s core streaming and subscription services is also expected to contribute to a strong performance.

In other developments, Cineverse Corp. has registered the issuance of shares of Class A common stock that are issuable upon the exercise of outstanding warrants. This registration follows the company’s sale of warrants in June 2023, which included the right to purchase up to 2,666,667 shares. The registration of these shares does not represent a new offering by Cineverse Corp., but rather a legal compliance step to allow for the potential future issuance of shares when warrant holders choose to exercise their options.

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