Gaiam Acquires Majority Stake In Spiritual Cinema Circle
Multichannel lifestyle media company Gaiam Inc. paid $6.9 million in cash for an approximate 63 percent ownership interest in Cinema Circle Inc.
Cinema Circle, Sante Fe, NM, is the parent company of Spiritual Cinema Circle, a subscription-based DVD film club that delivers films to members' homes that they can keep. The films seek to expand members' minds without the violence, explicit language or graphic content of mainstream Hollywood movies.
The acquisition fits Gaiam's growth strategy to leverage its 7 million-customer base to expand its media subscription base products.
Gaiam, Broomfield, CO, mails 20 million catalogs a year under the brand names Gaiam Living, Gaiam Mind Body, RealGoods and Explorations.