Cineverse (CNVS) 10-Q 9 Nov 15 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2015	Nov. 04, 2015
Document and Entity Information [Abstract]
Entity Central Index Key	1,173,204
Entity Registrant Name	CINEDIGM CORP.
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Current Fiscal Year End Date	--03-31
Amendment Flag	false
Entity Common Stock, Shares Outstanding		75,085,433
Entity Filer Category	Accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015
Current assets
Cash and cash equivalents	$ 18,963	$ 18,999
Accounts receivable, net of allowance for doubtful accounts of $936 and $597, respectively	64,867	59,591
Inventory	2,938	3,210
Unbilled revenue	4,096	5,065
Prepaid and other current assets	18,714	20,078
Total current assets	109,578	106,943
Restricted cash	8,983	6,751
Property and equipment, net	80,826	98,561
Intangible assets, net	28,865	31,784
Goodwill	8,701	26,701
Other assets	1,953	2,277
Total assets	238,906	273,017
Current liabilities
Accounts payable and accrued expenses	75,817	77,147
Current portion of notes payable, non-recourse	30,840	32,973
Current portion of notes payable	0	24,294
Current portion of capital leases	673	640
Current portion of deferred revenue	2,629	2,760
Total current liabilities	109,959	137,814
Notes payable, non-recourse, net of current portion	101,555	118,387
Notes payable, net of current portion	79,667	21,000
Capital leases, net of current portion	4,520	4,855
Deferred revenue, net of current portion	9,274	10,098
Total liabilities	304,975	292,154
Stockholders’ deficit
Additional paid-in capital	267,660	277,984
Treasury stock, at cost	(2,839)	(172)
Accumulated deficit	(333,746)	(300,350)
Accumulated other comprehensive loss	(27)	(57)
Total stockholders’ deficit of Cinedigm Corp.	(65,315)	(18,959)
Deficit attributable to noncontrolling interest	(754)	(178)
Total deficit	(66,069)	(19,137)
Total liabilities and deficit	238,906	273,017
Series A preferred stock
Stockholders’ deficit
Preferred stock	3,559	3,559
Class A common stock
Stockholders’ deficit
Common stock	$ 78	$ 77

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2015	Mar. 31, 2015
Allowance for doubtful accounts receivable	$ 936,000	$ 597,000
Unamortized debt issuance expense	$ 3,392,000	$ 750,000
Preferred stock, shares authorized (shares)	15,000,000	15,000,000
Secured Debt
Unamortized debt issuance expense	$ 5,164,000	$ 5,938,000
Series A preferred stock
Preferred stock, shares authorized (shares)	20	20
Preferred stock, dividend rate (percentage)	10.00%	10.00%
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares issued (shares)	7	7
Preferred stock, shares outstanding (shares)	7	7
Preferred stock, liquidation preference	$ 3,648	$ 3,648
Class A common stock
Common stock, shares authorized (shares)	210,000,000	210,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (shares)	77,857,873	77,178,494
Common stock, shares outstanding (shares)	75,085,433	77,075,614
Treasury stock, Class A shares (shares)	2,772,440	51,440
Class B common stock
Common stock, shares authorized (shares)	1,241,000	1,241,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (shares)	1,241,000	1,241,000
Common stock, shares outstanding (shares)	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Revenues	$ 27,704	$ 23,721	$ 50,532	$ 46,578
Costs and expenses:
Direct operating (excludes depreciation and amortization shown below)	8,388	3,311	15,680	11,815
Selling, general and administrative	9,509	8,213	18,327	15,811
Provision for doubtful accounts	0	78	339	172
Restructuring, transition and acquisition expenses, net	63	817	196	1,763
Goodwill impairment	18,000	0	18,000	0
Litigation settlement recovery, net of expenses	(1,208)	91	(410)	202
Depreciation and amortization of property and equipment	9,427	9,391	18,784	18,767
Amortization of intangible assets	1,463	1,464	2,922	3,349
Total operating expenses	45,642	23,365	73,838	51,879
Income (loss) from operations	(17,938)	356	(23,306)	(5,301)
Interest expense, net	(5,192)	(4,993)	(10,322)	(10,028)
Loss on extinguishment of debt	0	0	(931)	0
Other income (expense), net	124	(39)	232	100
Change in fair value of interest rate derivatives	(68)	84	(66)	(175)
Loss from continuing operations	(23,074)	(4,592)	(34,393)	(15,404)
Income from discontinued operations	0	293	0	442
Loss on sale of discontinued operations	0	(3,045)	0	(3,045)
Net loss	(23,074)	(7,344)	(34,393)	(18,007)
Net loss attributable to noncontrolling interest	741	0	1,175	0
Net loss attributable to controlling interests	(22,333)	(7,344)	(33,218)	(18,007)
Preferred stock dividends	(89)	(89)	(178)	(178)
Net loss attributable to common stockholders	$ (22,422)	$ (7,433)	$ (33,396)	$ (18,185)
Net loss per Class A and Class B common stock attributable to common stockholders - basic and diluted:
Loss from continuing operations (in dollars per share)	$ (0.35)	$ (0.06)	$ (0.51)	$ (0.20)
Loss from discontinued operations (in dollars per share)	0	(0.04)	0	(0.03)
Net loss attributable to common stockholders (in dollars per share)	$ (0.35)	$ (0.10)	$ (0.51)	$ (0.23)
Weighted average number of Class A and Class B common shares outstanding: basic and diluted (shares)	63,236,908	76,748,753	65,200,093	76,659,162

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (23,074)	$ (7,344)	$ (34,393)	$ (18,007)
Other comprehensive income (loss): foreign exchange translation	32	(54)	30	2
Comprehensive loss	(23,042)	(7,398)	(34,363)	(18,005)
Less: comprehensive loss attributable to noncontrolling interest	(741)	0	(1,175)	0
Comprehensive loss attributable to controlling interests	$ (22,301)	$ (7,398)	$ (33,188)	$ (18,005)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net loss	$ (34,393)	$ (18,007)
Adjustments to reconcile net loss to net cash provided by operating activities:
Loss on disposal of business	0	3,045
Depreciation and amortization of property and equipment and amortization of intangible assets	21,706	22,116
Goodwill impairment	18,000	0
Amortization of debt issuance costs included in interest expense	1,203	886
Provision for doubtful accounts	339	172
Provision for inventory reserve	500	900
Stock-based compensation and expenses	1,073	1,073
Change in fair value of interest rate derivatives	66	175
Accretion and PIK interest expense added to note payable	1,124	1,222
Loss on extinguishment of debt	931	0
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	(5,562)	(17,743)
Inventory	(228)	(921)
Unbilled revenue	969	2,072
Prepaid expenses and other assets	1,287	(8,853)
Accounts payable, accrued expenses and other liabilities	(1,434)	17,667
Deferred revenue	(955)	(1,257)
Net cash provided by operating activities	4,626	2,547
Cash flows from investing activities:
Contributions from noncontrolling interest	599	0
Purchases of property and equipment	(1,049)	(620)
Purchases of intangible assets	(3)	(6)
Restricted cash	(2,232)	0
Proceeds from sale of business	0	2,950
Additions to capitalized software costs	0	(855)
Net cash (used in) provided by investing activities	(453)	1,469
Cash flows from financing activities:
Payment of notes payable	(38,820)	(29,115)
Payment for structured stock repurchase forward contract	(11,440)	0
Principal payments on capital leases	(302)	(298)
Payments of debt issuance costs	(3,581)	0
Costs associated with issuance of Class A common stock	0	(72)
Net cash used in financing activities	(4,209)	(24,485)
Net change in cash and cash equivalents	(36)	(20,469)
Cash and cash equivalents at beginning of period	18,999	50,215
Cash and cash equivalents at end of period	18,963	29,746
Class A common stock
Cash flows from financing activities:
Repurchase of Class A common stock	(2,667)	0
Revolving Credit Agreement
Cash flows from financing activities:
Net (repayments) borrowings under revolving credit agreement	(9,167)	5,000
5.5% Convertible Notes | Convertible Debt [Member]
Cash flows from financing activities:
Proceeds from issuance of 5.5% Convertible Notes	$ 64,000	$ 0

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows (parenthetical)	Sep. 30, 2015	Sep. 30, 2014
5.5% Convertible Notes | Convertible Debt [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.50%	5.50%

NATURE OF OPERATIONS

NATURE OF OPERATIONS	6 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Cinedigm Corp. was incorporated in Delaware on March 31, 2000 (“Cinedigm”, and collectively with its subsidiaries, the “Company,” "we," "us," or similar pronouns). We are (i) a leading distributor and aggregator of independent movie, television and other short form content, managing a distribution rights library of close to 50,000 titles and episodes released across digital, physical, theatrical, home and mobile entertainment platforms and (ii) a leading servicer of digital cinema assets on more than 12,000 movie screens in both North America, Australia and New Zealand. We report our financial results in the following reportable segments: (1) the first digital cinema deployment (“Phase I Deployment”), (2) the second digital cinema deployment (“Phase II Deployment”), (3) digital cinema services (“Services”) and (4) media content and entertainment group (“Content & Entertainment” or "CEG"). The Phase I Deployment and Phase II Deployment segments are the financing vehicles and administrators for our digital cinema equipment (the “Systems”) installed in movie theatres throughout the United States, and in Australia and New Zealand, which are non-recourse to the other segments of our business. Our Services segment provides fee based support to more than 12,000 movie screens in our Phase I Deployment and Phase II Deployment segments as well as directly to exhibitors and other third party customers in the form of monitoring, billing, collections and verification services. Our Content & Entertainment segment is focused on: (1) ancillary market aggregation and distribution of entertainment content, and (2) branded and curated over-the-top ("OTT") digital network business providing entertainment channels and applications. We are structured so that our digital cinema business (collectively, the Phase I Deployment, Phase II Deployment and Services segments) operates independently from our Content & Entertainment segment. Investments in which we do not have a controlling interest or are not the primary beneficiary but have the ability to exert significant influence, are accounted for under the equity method of accounting. Noncontrolling interests for which we have been determined to have a controlling financial interest are consolidated and recorded net of tax as net income (loss) attributable to noncontrolling interest. See Note 4 - Other Interests to the Condensed Consolidated Financial Statements for a discussion of our noncontrolling interests.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND CONSOLIDATION We have incurred net losses historically and have an accumulated deficit of $333.7 million as of September 30, 2015 . We also have significant contractual obligations related to our recourse and non-recourse debt for the remainder of the fiscal year ending March 31, 2016 and beyond. We may continue to generate net losses for the foreseeable future. We believe the combination of: (i) our cash and restricted cash balances at September 30, 2015 , (ii) the remaining availability under our revolving line of credit, (iii) planned cost reduction initiatives, and (iv) expected cash flows from operations will be sufficient to satisfy our liquidity and capital requirements for the next twelve months. Our capital requirements will depend on many factors, and we may need to use available capital resources and raise additional capital. As a result of our ongoing process of exploring and evaluating potential significant strategic and capital raising opportunities with the help of our financial advisor, we are in discussions with a potential investor to help meet our ongoing capital raising requirements. There can be no assurance that the transaction under discussion will be consummated. Failure to generate additional revenues, raise additional capital or manage discretionary spending could have an adverse effect on our financial position, results of operations or liquidity. The accompanying Condensed Consolidated Financial Statements are unaudited and include the accounts of the Company, its wholly owned subsidiaries and subsidiaries in which it has a controlling interest, and reflect all normal and recurring adjustments necessary for the fair presentation of its financial position, results of operations and cash flows. All material inter-company accounts and transactions have been eliminated in consolidation. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation. Effective September 30, 2015, we elected to change our method of presentation relating to debt issuance costs in accordance with Financial Accounting Standards Board ("FASB") ASU 2015-03 - Simplifying the Presentation of Debt Issuance Costs . Prior to September 30, 2015, our policy was to present debt issuance costs in Other Assets on the Condensed Consolidated Balance Sheets, net of accumulated amortization. Beginning with the period ended September 30, 2015, we have presented these costs as a direct deduction to notes payable. Unamortized debt issuance costs of $6.7 million previously reported as assets on our Consolidated Balance Sheet as of March 31, 2015 have been reclassified as a direct deduction to notes payable. USE OF ESTIMATES The preparation of these Condensed Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under GAAP, interim accounting for certain expenses, such as the adequacy of accounts receivable reserves, return reserves, inventory reserves, recoupment of advances, minimum guarantees, assessment of goodwill and intangible asset impairment and valuation reserve for income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), although we believe that the disclosures are adequate to make the information presented not misleading. The results of operations for the respective interim periods are not necessarily indicative of the results expected for the full year. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with our annual consolidated financial statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2015 . CASH AND CASH EQUIVALENTS We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. We maintain bank accounts with major banks, which from time to time may exceed the Federal Deposit Insurance Corporation’s insured limits. We periodically assess the financial condition of the institutions and believe that the risk of any loss is minimal. ACCOUNTS RECEIVABLE We maintain reserves for potential credit losses on accounts receivable. We review the composition of accounts receivable and analyze historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. Reserves are recorded primarily on a specific identification basis. Our Content & Entertainment segment recognizes accounts receivable, net of an estimated allowance for product returns and customer chargebacks, at the time that it recognizes revenue from a sale. We base the amount of the returns allowance and customer chargebacks upon historical experience and future expectations. We record accounts receivable, long-term in connection with activation fees that we earn from Systems deployments that have extended payment terms. Such accounts receivable are discounted to their present value at prevailing market rates and are recorded as other assets in the Condensed Consolidated Balance Sheets. ADVANCES Advances are recorded within prepaid and other current assets within the Condensed Consolidated Balance Sheets and represent amounts prepaid to studios or content producers for which we provide content distribution services. We evaluate advances regularly for recoverability and record charges for amounts that we expect may not be recoverable as of the balance sheet date. INVENTORY Inventory consists of finished goods of Company owned, physical DVD and Blu-ray Disc titles and is stated at the lower of cost (determined based on weighted average cost) or market. We identify inventory items to be written down for obsolescence based on their sales status and condition. We write down discontinued or slow moving inventories based on an estimate of the markdown to retail price needed to sell through our current stock level of the inventories. RESTRICTED CASH Our 2013 Term Loans, Prospect Loan and Cinedigm Credit Agreement require that we maintain specified cash balances that are restricted to repayment of interest (see Note 5 - Notes Payable ). PROPERTY AND EQUIPMENT Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows: Computer equipment and software 3 - 5 years Digital cinema projection systems 10 years Machinery and equipment 3 - 10 years Furniture and fixtures 3 - 6 years Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the leasehold improvements. Repair and maintenance costs are charged to expense as incurred. Major renewals, improvements and additions are capitalized. Upon the sale or other disposition of any property and equipment, the cost and related accumulated depreciation and amortization are removed from the accounts and the gain or loss on disposal is included in the Condensed Consolidated Statements of Operations. ACCOUNTING FOR DERIVATIVE ACTIVITIES Derivative financial instruments are recorded at fair value. Changes in the fair value of derivative financial instruments are either recognized in accumulated other comprehensive loss (a component of stockholders' deficit) or in the Condensed Consolidated Statements of Operations depending on whether the derivative qualifies for hedge accounting. We have entered into two separate interest rate cap transactions to limit our exposure to interest rates related to our 2013 Term Loans and Prospect Loan. The interest rate caps on the 2013 Term Loans and Prospect Loan mature in March of 2016 and 2018, respectively. We have not sought hedge accounting treatment for these instruments and therefore, changes in the value of our interest rate derivatives were recorded in the Condensed Consolidated Statements of Operations. FAIR VALUE MEASUREMENTS The fair value measurement disclosures are grouped into three levels based on valuation factors: • Level 1 – quoted prices in active markets for identical investments • Level 2 – other significant observable inputs (including quoted prices for similar investments and market corroborated inputs) • Level 3 – significant unobservable inputs (including our own assumptions in determining the fair value of investments) Assets and liabilities measured at fair value on a recurring basis use the market approach, where prices and other relevant information are generated by market transactions involving identical or comparable assets or liabilities. The following tables summarize the levels of fair value measurements of our financial assets and liabilities: As of September 30, 2015 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 8,983 $ — $ — $ 8,983 Interest rate derivatives — 172 — 172 $ 8,983 $ 172 $ — $ 9,155 As of March 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 6,751 $ — $ — $ 6,751 Interest rate derivatives — 208 — 208 $ 6,751 $ 208 $ — $ 6,959 Our cash and cash equivalents, accounts receivable, unbilled revenue and accounts payable and accrued expenses are financial instruments and are recorded at cost in the Condensed Consolidated Balance Sheets. The estimated fair values of these financial instruments approximate their carrying amounts because of their short-term nature. The carrying amount of accounts receivable, long-term and notes receivable approximates fair value based on the discounted cash flows of such instruments using current assumptions at the balance sheet date. At September 30, 2015 and March 31, 2015 , the estimated fair value of our fixed rate debt approximated its carrying amounts. We estimated the fair value of debt based upon current interest rates available to us at the respective balance sheet dates for arrangements with similar terms and conditions. Based on borrowing rates currently available to us for loans with similar terms, the carrying value of notes payable and capital lease obligations approximates fair value. IMPAIRMENT OF LONG-LIVED AND FINITE-LIVED ASSETS We review the recoverability of our long-lived assets and finite-lived intangible assets, when events or conditions occur that indicate a possible impairment exists. The assessment for recoverability is based primarily on our ability to recover the carrying value of our long-lived and finite-lived assets from expected future undiscounted net cash flows. If the total of expected future undiscounted net cash flows is less than the total carrying value of the asset, the asset is deemed not to be recoverable and possibly impaired. We then estimate the fair value of the asset to determine whether an impairment loss should be recognized. An impairment loss will be recognized if the asset's fair value is determined to be less than its carrying value. Fair value is determined by computing the expected future discounted cash flows. During the six months ended September 30, 2015 and 2014 , no impairment charge was recorded from continuing operations for long-lived assets or finite-lived assets. GOODWILL Goodwill is the excess of the purchase price paid over the fair value of the net assets of an acquired business. Goodwill is tested for impairment on an annual basis at the end of the fourth quarter of each fiscal year, or more often if warranted by events or changes in circumstances indicating that the carrying value of a reporting unit may exceed fair value, also known as impairment indicators. Our process of evaluating goodwill for impairment involves the determination of fair value of goodwill compared to its carrying value. Our only reporting unit with goodwill is our Content & Entertainment reporting unit, which had a goodwill carrying value that was materially derived from our October 2013 acquisition of a division of Gaiam, Inc. and Gaiam Americas, Inc. (the "GVE acquisition"). Inherent in the fair value determination for each reporting unit are certain judgments and estimates relating to future cash flows, including management’s interpretation of current economic indicators and market conditions, and assumptions about our strategic plans with regard to its operations. To the extent additional information arises, market conditions change or our strategies change, it is possible that the conclusion regarding whether our remaining goodwill is impaired could change and result in future goodwill impairment charges that will have a material effect on our consolidated financial position or results of operations. As a result of factors discussed in detail below, we performed a quantitative fair value assessment for our CEG reporting unit as of September 30, 2015 , and determined that the reporting unit had a fair value less than its carrying amount. As a result, we recorded a goodwill impairment charge of $18.0 million for the three months and six months ended September 30, 2015 . In determining fair value we used various assumptions, including expectations of future cash flows based on projections or forecasts derived from analysis of business prospects, economic or market trends and any regulatory changes that may occur. We estimated the fair value of the reporting unit using a net present value methodology, which is dependent on significant assumptions related to estimated future discounted cash flows, discount rates and tax rates. The assumptions used in our goodwill impairment tests should not be construed as earnings guidance or long-term projections. Our cash flow assumptions are based on a 5-year internal projection of adjusted EBITDA for the Content & Entertainment reporting unit. We assumed a market-based weighted average cost of capital of 17% to discount cash flows for our CEG segment and used a blended federal and state tax rate of 40% . We reassessed the fair value of our CEG reporting unit in the second quarter of 2015 because the reporting unit is expected to perform below the fiscal year 2016 forecast that we had established during our annual testing of goodwill at March 31, 2015. The Company faced challenges in the first half of fiscal 2016 that significantly impacted our ability to establish the new contracts, customer relationships and OTT channels that we had originally anticipated and shifted a portion of management's focus away from business operations. As a result, our fiscal 2016 projections for revenue and adjusted EBITDA are expected to fall materially below our original estimates, particularly those for the second half of the fiscal year. Future decreases in the fair value of our CEG reporting unit may require us to record additional goodwill impairment, particularly if our expectations of future cash flows are not achieved. Information related to the goodwill allocated to our Content & Entertainment segment is as follows: (In thousands) Goodwill As of March 31, 2015 $ 26,701 Goodwill impairment (18,000 ) As of September 30, 2015 $ 8,701 Gross amounts of goodwill and accumulated impairment charges that we have recorded are as follows: (In thousands) Goodwill Goodwill $ 32,701 Accumulated impairment losses (24,000 ) Net goodwill at September 30, 2015 $ 8,701 No goodwill impairment charge was recorded in the six months ended September 30, 2014 . PARTICIPATIONS AND ROYALTIES PAYABLE We record liabilities within accounts payable and accrued expenses on the Condensed Consolidated Balance Sheet, that represent amounts owed to studios or content producers for royalties owed under licensing arrangements when we provide content distribution services. We identify and record as a reduction to the liability any expenses that are to be reimbursed to us by such studios or content producers. DEBT ISSUANCE COSTS We incur debt issuance costs in connection with long-term debt financings. Such costs are recorded as a direct deduction to notes payable and amortized over the terms of the respective debt obligations using the effective interest rate method (see Note 5 - Notes Payable ). Debt issuance costs recorded in connection with revolving debt arrangements are presented in other assets on the Condensed Consolidated Balance Sheets and are amortized over the term of the revolving debt agreements using the effective interest rate method. REVENUE RECOGNITION Phase I Deployment and Phase II Deployment Virtual print fees (“VPFs”) are earned, net of administrative fees, pursuant to contracts with movie studios and distributors, whereby amounts are payable by a studio to Phase 1 DC and to Phase 2 DC when movies distributed by the studio are displayed on screens utilizing our Systems installed in movie theatres. VPFs are earned and payable to Phase 1 DC based on a defined fee schedule with a reduced VPF rate year over year until the sixth year at which point the VPF rate remains unchanged through the tenth year, at which point the VPFs phase out. One VPF is payable for every digital title displayed per System. The amount of VPF revenue is dependent on the number of movie titles released and displayed using the Systems in any given accounting period. VPF revenue is recognized in the period in which the digital title first plays on a System for general audience viewing in a digitally-equipped movie theatre, as Phase 1 DC’s and Phase 2 DC’s performance obligations have been substantially met at that time. Beginning in December 2015, certain Phase 1 DC Systems will have reached the conclusion of their deployment payment period. In accordance with existing agreements with distributors, a substantial portion of VPF revenues will cease to be recognized on such Systems. Because the Phase I deployment installation period ended in November 2007, a majority of the VPF revenue associated with the Phase I systems will end by November 2017. While the absence of such revenue is not expected to be material to the Condensed Consolidated Statements of Operations during the fiscal year ending March 31, 2016 , it is expected to have a material cumulative impact in subsequent periods. Phase 2 DC’s agreements with distributors require the payment of VPFs, according to a defined fee schedule, for ten years from the date each system is installed; however, Phase 2 DC may no longer collect VPFs once “cost recoupment,” as defined in the agreements, is achieved. Cost recoupment will occur once the cumulative VPFs and other cash receipts collected by Phase 2 DC have equaled the total of all cash outflows, including the purchase price of all Systems, all financing costs, all “overhead and ongoing costs”, as defined, and including service fees, subject to maximum agreed upon amounts during the three-year rollout period and thereafter. Further, if cost recoupment occurs before the end of the eighth contract year, the studio will pay us a one-time “cost recoupment bonus”. Any other cash flows, net of expenses, received by Phase 2 DC following the achievement of cost recoupment are required to be returned to the distributors on a pro-rata basis. At this time, the Company cannot estimate the timing or probability of the achievement of cost recoupment. Beginning in December 2018, certain Phase 2 DC Systems will have reached the conclusion of their deployment payment period, subject to earlier achievement of cost recoupment. In accordance with existing agreements with distributors, VPF revenues will cease to be recognized on such Systems. Because the Phase II deployment installation period ended in December 2012, a majority of the VPF revenue associated with the Phase I systems will end by December 2022 or earlier if cost recoupment is achieved. Alternative content fees (“ACFs”) are earned pursuant to contracts with movie exhibitors, whereby amounts are payable to Phase 1 DC and to Phase 2 DC, generally either a fixed amount or as a percentage of the applicable box office revenue derived from the exhibitor’s showing of content other than feature movies, such as concerts and sporting events (typically referred to as “alternative content”). ACF revenue is recognized in the period in which the alternative content first opens for audience viewing. Revenues earned in connection with up front exhibitor contributions are deferred and recognized over the expected cost recoupment period. Services Exhibitors who purchased and own Systems using their own financing in the Phase II Deployment paid us an upfront activation fee that is generally $2.0 thousand per screen (the “Exhibitor-Buyer Structure”). These upfront activation fees are recognized in the period in which these Systems were delivered and are ready for content, as we had no further obligations to the customer after that time and collection was reasonably assured. In addition, we recognize activation fee revenue of between $1.0 thousand and $2.0 thousand on Phase 2 DC Systems and for Systems installed by CDF2 Holdings (See Note 4 - Other Interests ) upon installation and such fees are generally collected upfront upon installation. Our services segment manages and collects VPFs on behalf of exhibitors, for which it earns an administrative fee equal to 10% of the VPFs collected. Our Services segment earns an administrative fee of approximately 5% of VPFs collected and, in addition, earns an incentive service fee equal to 2.5% of the VPFs earned by Phase 1 DC. This administrative fee is recognized in the period in which the billing of VPFs occurs, as performance obligations have been substantially met at that time. Content & Entertainment CEG earns fees for the distribution of content in the home entertainment markets via several distribution channels, including digital, VOD, and physical goods (e.g., DVD and Blu-ray Discs). Fees earned are typically based on the gross amounts billed to our customers less the amounts owed to the media studios or content producers under distribution agreements, and gross media sales of owned or licensed content. Depending upon the nature of the agreements with the platform and content providers, the fee rate that we earn varies. Generally, revenues are recognized when content is available for subscription on the digital platform, at the time of shipment for physical goods, or point-of-sale for transactional and VOD services. Reserves for sales returns and other allowances are recorded based upon historical experience. If actual future returns and allowances differ from past experience, adjustments to our allowances may be required. Sales returns and allowances are reported as a reduction of revenues. CEG also has contracts for the theatrical distribution of third party feature movies and alternative content. CEG’s distribution fee revenue and CEG's participation in box office receipts is recognized at the time a feature movie and alternative content are viewed. CEG has the right to receive or bill a portion of the theatrical distribution fee in advance of the exhibition date, and therefore such amount is recorded as a receivable at the time of execution, and all related distribution revenue is deferred until the theatrical release date of the third party feature movie or alternative content. DIRECT OPERATING COSTS Direct operating costs primarily consist of operating costs such as cost of goods sold, fulfillment expenses, shipping costs, royalty expenses, participation expenses, marketing and direct personnel costs. STOCK-BASED COMPENSATION Employee and director stock-based compensation expense from continuing operations related to our stock-based awards was as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, (In thousands) 2015 2014 2015 2014 Direct operating $ 4 $ 3 $ 10 $ 6 Selling, general and administrative 397 404 1,063 1,019 $ 401 $ 407 $ 1,073 $ 1,025 The weighted-average grant-date fair value of options granted during the three months ended September 30, 2015 and 2014 was $0.35 and $1.09 , respectively, and $0.52 and $1.27 for the six months ended September 30, 2015 and 2014 , respectively. There were zero and 6,673 stock options exercised during the three months ended September 30, 2015 and September 30, 2014 , respectively, and 25,000 and 41,066 stock options exercised for the six months ended September 30, 2015 and 2014 , respectively. We estimated the fair value of stock options at the date of each grant using a Black-Scholes option valuation model with the following assumptions: For the Three Months Ended September 30, For the Six Months Ended September 30, Assumptions for Option Grants 2015 2014 2015 2014 Range of risk-free interest rates 1.5% - 1.6% 1.6 - 1.8% 1.4% - 1.7% 1.6 - 1.8% Dividend yield — — — — Expected life (years) 5 5 5 5 Range of expected volatilities 70.7 - 70.7% 71.4 - 71.5% 70.6 - 70.9% 71.4 - 72.3% The risk-free interest rate used in the Black-Scholes option pricing model for options granted under our stock option plan awards is the historical yield on U.S. Treasury securities with equivalent remaining lives. We do not currently anticipate paying any cash dividends on common stock in the foreseeable future. Consequently, an expected dividend yield of zero is used in the Black-Scholes option pricing model. We estimate the expected life of options granted under our stock option plans using both exercise behavior and post-vesting termination behavior, as well as consideration of outstanding options. We estimate expected volatility for options granted under our stock option plans based on a measure of our Class A common stock's historical volatility in the trading market. NET LOSS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS Basic and diluted net loss per common share has been calculated as follows: Basic and diluted net loss per common share attributable to common stockholders = Net loss attributable to common stockholders Weighted average number of common stock outstanding during the period Stock issued and treasury stock repurchased during the period are weighted for the portion of the period that they are outstanding. The shares to be repurchased in connection with the forward stock purchase transaction discussed in Note 6 - Stockholders' Deficit are considered repurchased for the purposes of calculating earnings per share and therefore the calculation of weighted average shares outstanding as of September 30, 2015 excludes approximately 11.8 million shares that will be repurchased as a result of the forward stock purchase transaction. Loss per share from continuing operations is calculated similarly to basic and diluted loss per common share attributable to common shareholders, except that it uses loss from continuing operations in the numerator and takes into account the net loss attributable to noncontrolling interest. We incurred net losses for each of the three months and six months ended September 30, 2015 and 2014 , and therefore the impact of potentially dilutive common shares from outstanding stock options and warrants, totaling 29,135,181 shares and 29,113,797 shares as of September 30, 2015 and 2014, respectively, were excluded from the computation of earnings per share as their impact would have been anti-dilutive. RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued new accounting guidance on revenue recognition. The new standard provides for a single five-step model to be applied to all revenue contracts with customers as well as requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. The guidance will be effective during our fiscal year ending March 31, 2019 with early adoption permitted. We are evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. In June 2014, the FASB issued an accounting standards update, which provides additional guidance on how to account for share-based payments where the terms of an award may provide that the performance target could be achieved after an employee completes the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite period is treated as a performance condition. The guidance will be effective during our fiscal year ending March 31, 2017. We are currently evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. The standards update may be applied (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on our consolidated financial statements. In August 2014, the FASB amended accounting guidance pertaining to going concern considerations by company management. The amendments in this update state that in connection with preparing financial statements for each annual and interim reporting period, an entity's management should evaluate whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued, when applicable). The guidance will be effective during our fiscal year ending March 31, 2018. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on our consolidated financial statements. In February 2015, the FASB issued an accounting standards update, which amended accounting guidance on consolidation. The amendments affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The update will be effective during our fiscal year ending March 31, 2017. We are evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. In April 2015, the FASB issued new guidance related to the customer’s accounting for fees paid in a cloud computing arrangement, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2015. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on our consolidated financial statements. In July 2015, the FASB issued an accounting standards update that requires an entity to measure inventory balances at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. We are evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. In September 2015, the FASB issued new guidance with respect to Business Combinations. The new guidance requires the acquirer in a Business Combination to recognize provisional amounts that are identified during the measurement period in the reporting period in which the adju

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS During the fiscal year ended March 31, 2014, we made the strategic decision to discontinue and exit our software business and therefore executed a plan of sale for Hollywood Software, Inc. d/b/a Cinedigm Software (“Software”), our direct, wholly owned subsidiary, in order to focus on physical and digital distribution of entertainment content and servicing our existing digital cinema business. Furthermore, we believed that Software, which was previously included in our Services segment, no longer complemented our businesses. On September 23, 2014, we completed the sale of Software to a third party and recognized a $3.0 million loss on the sale of the business for the three and six months ended September 30, 2014. As a result, Software has been reclassified as discontinued operations for the three and six months ended September 30, 2014 . Details of income from discontinued operations are as follows: (In thousands) For the Three Months Ended September 30, 2014 For the Six Months Ended September 30, 2014 Revenues $ 919 $ 1,968 Costs and Expenses: Direct operating 151 326 Selling, general and administrative 561 1,093 Research and development 5 14 Total operating expenses 717 1,433 Income from operations 202 535 Other expense, net (8 ) (93 ) Income before provision for income taxes 194 442 Provision for income taxes 99 — Income from discontinued operations, net of taxes $ 293 $ 442

OTHER INTERESTS

OTHER INTERESTS	6 Months Ended
	Sep. 30, 2015
Noncontrolling Interest [Abstract]
Other Interests	OTHER INTERESTS Investment in CDF2 Holdings We indirectly own 100% of the common equity of CDF2 Holdings, LLC ("CDF2 Holdings"), which was created for the purpose of capitalizing on the conversion of the exhibition industry from film to digital technology. CDF2 Holdings assists its customers in procuring the equipment necessary to convert their Systems to digital technology by providing financing, equipment, installation and related ongoing services. CDF2 Holdings is a Variable Interest Entity (“VIE”), as defined in Accounting Standards Codification Topic 810 ("ASC 810"), “Consolidation." ASC 810 requires the consolidation of VIEs by an entity that has a controlling financial interest in the VIE which entity is thereby defined as the primary beneficiary of the VIE. To be a primary beneficiary, an entity must have the power to direct the activities of a VIE that most significantly impact the VIE's economic performance, among other factors. Although we indirectly, wholly own CDF2 Holdings, we, a third party that also has a variable interest in CDF2 Holdings, and an independent third party manager must mutually approve all business activities and transactions that significantly impact CDF2 Holdings' economic performance. We have therefore assessed our variable interests in CDF2 Holdings and determined that we are not the primary beneficiary of CDF2 Holdings. As a result, CDF2 Holdings' financial position and results of operations are not consolidated in our financial position and results of operations. In completing our assessment, we identified the activities that we consider most significant to the economic performance of CDF2 Holdings and determined that we do not have the power to direct those activities, and therefore we account for our investment in CDF2 Holdings under the equity method of accounting. As of September 30, 2015 and March 31, 2015 , our maximum exposure to loss, as it relates to the non-consolidated CDF2 Holdings entity, represents accounts receivable for service fees under a master service agreement with CDF2 Holdings. Such accounts receivable were $0.4 million and $ $0.3 million as of September 30, 2015 and March 31, 2015 , which are included in accounts receivable, net on the accompanying Condensed Consolidated Balance Sheets. During each of the three months and six months ended September 30, 2015 and 2014, we received $0.3 million and $0.6 million , respectively, in aggregate revenues through digital cinema servicing fees from CDF2 Holdings, which are included in our revenues on the accompanying Condensed Consolidated Statements of Operations. Total Stockholder's Deficit of CDF2 Holdings at September 30, 2015 and March 31, 2015 was $9.7 million and $6.7 million , respectively. We have no obligation to fund the operating loss or the stockholder's deficit beyond our initial investment of $2.0 million and, accordingly, our in investment in CDF2 Holdings as of September 30, 2015 and March 31, 2015 is carried at $0 . Noncontrolling Interest in CONtv In June 2014, we and Wizard World, Inc. formed CON TV, LLC (“CONtv”) to fund, design, create, launch, and operate a worldwide digital network that creates original content, and sells and distributes on-demand digital content via the Internet and other consumer digital distribution platforms, such as gaming consoles, set-top boxes, handsets, and tablets. We have determined that we have a controlling financial interest in CONtv. As a result, and in accordance with ASC 810, we have consolidated the financial position and results of operations of CONtv as of and for the six months ended September 30, 2015 . During the six months ended September 30, 2015 , we made total contributions of $0.6 million in CONtv. Wizard World Inc.'s share of stockholders' deficit in CONtv is reflected as noncontrolling interest in our Condensed Consolidated Balance Sheets and was $0.8 million and $0.2 million as of September 30, 2015 and March 31, 2015 , respectively. The noncontrolling interest's share of net loss was $1.2 million for the six months ended September 30, 2015 .

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE Notes payable consisted of the following: September 30, 2015 March 31, 2015 (In thousands) Current Portion Long Term Portion Current Portion Long Term Portion 2013 Term Loans, net of debt discount $ 22,976 $ 23,471 $ 25,125 $ 36,418 Prospect Loan — 67,204 — 67,967 KBC Facilities 7,646 15,541 7,649 19,361 P2 Vendor Note 141 356 125 393 P2 Exhibitor Notes 77 147 74 186 Total non-recourse notes payable 30,840 106,719 32,973 124,325 Less: Unamortized debt issuance costs — (5,164 ) — (5,938 ) Total non-recourse notes payable, net of unamortized debt issuance costs $ 30,840 $ 101,555 $ 32,973 $ 118,387 5.5% Convertible Notes Due 2035 $ — $ 64,000 $ — $ — Cinedigm Term Loans — — — 17,965 Cinedigm Revolving Loans — 15,127 24,294 — 2013 Notes — 3,932 — 3,785 Total recourse notes payable — 83,059 24,294 21,750 Less: Unamortized debt issuance costs — (3,392 ) — (750 ) Total recourse notes payable, net of unamortized debt issuance costs $ — $ 79,667 $ 24,294 $ 21,000 Total notes payable, net of unamortized debt issuance costs $ 30,840 $ 181,222 $ 57,267 $ 139,387 Non-recourse debt is generally defined as debt whereby the lenders’ sole recourse with respect to defaults, is limited to the value of the asset, which is collateral for the debt. Certain of our subsidiaries are liable with respect to, and their assets serve as collateral for, certain indebtedness for which our assets and the assets of our other subsidiaries that are not parties to the transaction are generally not liable. We have referred to this indebtedness as "non-recourse debt" because the recourse of the lenders is limited to the assets of specific subsidiaries. Such indebtedness includes the Prospect Loan, the KBC Facilities, the 2013 Term Loans, the P2 Vendor Note and the P2 Exhibitor Note. 2013 Term Loans In February 2013, CDF I, our wholly owned subsidiary, entered into an amended and restated credit agreement (the “2013 Credit Agreement”) with Société Générale and other lenders. Under the terms of the 2013 Credit Agreement, CDF I may borrow an aggregate principal amount of $130.0 million , $5.0 million of which was allowed to be assigned to an affiliate of CDF I. Under the 2013 Credit Agreement, each of the 2013 Term loans bear interest, at the option of CDF I, based on a base rate (generally, the bank prime rate) or the one-month LIBOR rate set at a minimum of 1.00% , plus a margin of 1.75% (in the case of base rate loans) or 2.75% (in the case of LIBOR rate loans). The 2013 Term Loans mature and must be paid in full by February 28, 2018. In addition, CDF I may prepay the 2013 Term Loans, in whole or in part, subject to paying certain breakage costs, if applicable. The one-month LIBOR rate at September 30, 2015 was 0.19% . The 2013 Credit Agreement also requires each of CDF I’s existing and future direct and indirect domestic subsidiaries (the "Guarantors") to guarantee the obligations under the 2013 Credit Agreement with a first priority perfected security interest in all of the collective assets of CDF I and the Guarantors, including real estate owned or leased, and all capital stock or other equity interests in C/AIX, our wholly owned subsidiary and the direct holder of CDF I’s equity. The 2013 Credit Agreement contains customary representations, warranties, affirmative covenants, negative covenants and events of default. Collections of CDF I accounts receivable are deposited into accounts designated to pay certain operating expenses, principal, interest, fees, costs and expenses relating to the 2013 Credit Agreement. Amounts designated for these purposes totaled $3.8 million and $3.9 million as of September 30, 2015 and March 31, 2015 , respectively, and are included in cash and cash equivalents on our Condensed Consolidated Balance Sheets. We also maintain a debt service fund under the 2013 Credit Agreement for future principal and interest payments. As of September 30, 2015 and March 31, 2015 , the debt service fund had a balance of $5.8 million , which is classified as restricted cash on our Condensed Consolidated Balance Sheets. The balance of the 2013 Term Loans, net of the original issue discount, was as follows: (In thousands) September 30, 2015 March 31, 2015 2013 Term Loans, at issuance, net $ 125,087 $ 125,087 Payments to date (78,476 ) (63,348 ) Discount on 2013 Term Loans (164 ) (196 ) 2013 Term Loans, net 46,447 61,543 Less current portion (22,976 ) (25,125 ) Total long term portion $ 23,471 $ 36,418 Prospect Loan In February 2013, our DC Holdings, AccessDM and Phase 2 DC subsidiaries entered into a term loan agreement (the “Prospect Loan”) with Prospect Capital Corporation (“Prospect”), pursuant to which DC Holdings borrowed $70.0 million . The Prospect Loan bears interest at LIBOR plus 9.0% (with a 2.0% LIBOR floor), which is payable in cash, and at an additional 2.50% to be accrued as an increase to the aggregate principal amount of the Prospect Loan until the 2013 Credit Agreement is paid off, at which time all accrued interest will be payable in cash. Collections of DC Holdings accounts receivable are deposited into accounts designated to pay certain operating expenses, principal, interest, fees, costs and expenses relating to the Prospect Loan. On a quarterly basis, if funds remain after the payment of all such amounts, they are applied to prepay the Prospect Loan. Amounts designated for these purposes, included in cash and cash equivalents on the Condensed Consolidated Balance Sheets, totaled $1.9 million and $6.5 million as of September 30, 2015 and March 31, 2015 , respectively. We also maintain a debt service fund under the Prospect Loan for future principal and interest payments. As of September 30, 2015 and March 31, 2015 , the debt service fund had a balance of $1.0 million , which is classified as restricted cash on our Condensed Consolidated Balance Sheets. The Prospect Loan matures on March 31, 2021 and may be accelerated upon a change in control (as defined in the agreement) or other events of default as set forth therein and would be subject to mandatory acceleration upon insolvency of DC Holdings. We are permitted to pay the full outstanding balance of the Prospect Loan at any time after the second anniversary of the initial borrowing, subject to the following prepayment penalties: • 5.0% of the principal amount prepaid between the second and third anniversaries of issuance; • 4.0% of the principal amount prepaid between the third and fourth anniversaries of issuance; • 3.0% of the principal amount prepaid between the fourth and fifth anniversaries of issuance; • 2.0% of the principal amount prepaid between the fifth and sixth anniversary of issuance; • 1.0% of the principal amount prepaid between the sixth and seventh anniversaries of issuance; and • No penalty if the balance of the Prospect Loan, including accrued interest, is prepaid thereafter. The Prospect Loan is primarily secured by a first priority pledge of the stock of CDF2 Holdings, our wholly owned unconsolidated subsidiary, the stock of AccessDM, which is owned by DC Holdings, and the stock of our Phase 2 DC subsidiary. The Prospect Loan is also guaranteed by our AccessDM and Phase 2 DC subsidiaries. We provide limited financial support to the Prospect Loan not to exceed $1.5 million per year in the event financial performance does not meet certain defined benchmarks. The Prospect Loan contains customary representations, warranties, affirmative covenants, negative covenants and events of default. The following table summarizes the activity related to the Prospect Loan: (In thousands) September 30, 2015 March 31, 2015 Prospect Loan, at issuance $ 70,000 $ 70,000 PIK Interest 4,495 3,640 Payments to date (7,291 ) (5,673 ) Prospect Loan, net 67,204 67,967 Less current portion — — Total long term portion $ 67,204 $ 67,967 KBC Facilities In December 2008 we began entering into multiple credit facilities to fund the purchase of Systems to be installed in movie theatres as part of our Phase II Deployment. There were no borrowings under the KBC Facilities during the six months ended September 30, 2015 . The following table presents a summary of the KBC Facilities (dollar amounts in thousands): Outstanding Principal Balance Facility 1 Credit Facility Interest Rate 2 Maturity Date September 30, 2015 March 31, 2015 1 22,336 3.75 % September 2018 8,776 10,371 2 13,312 3.75 % March 2018 5,705 6,656 3 11,425 3.75 % March 2019 5,712 6,528 4 6,450 3.75 % September 2018 2,994 3,455 $ 53,523 23,187 27,010 1. For each facility, principal is to be repaid in twenty-eight quarterly installments. 2. Each of the facilities bears interest at the three-month LIBOR rate, which was 0.33% at September 30, 2015 , plus the interest rate noted above. 5.5% Convertible Notes Due April 2035 On April 29, 2015, we issued $64.0 million aggregate principal amount of unsecured senior convertible notes payable (the "Convertible Notes") that bear interest at a rate of 5.5% per year, payable semiannually. The Convertible Notes will mature on April 15, 2035, unless repurchased earlier, redeemed or converted and will be convertible at the option of the holders at any time until the close of business on the business day immediately preceding the maturity date. Upon conversion, we will deliver to holders in respect of each $1,000 principal amount of Convertible Notes being converted a number of shares of our Class A common stock equal to the conversion rate, together with a cash payment in lieu of delivering any fractional share of Class A common stock. The conversion rate applicable to the Convertible Notes on the offering date was 824.5723 shares of Class A common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $1.21 per share of Class A common stock), which is subject to adjustment if certain events occur. Holders of the Convertible Notes may require us to repurchase all or a portion of the Convertible Notes on April 20, 2020, April 20, 2025 and April 20, 2030 and upon the occurrence of certain fundamental changes at a repurchase price in cash equal to 100% of the principal amount of the Convertible Notes to be repurchased plus accrued and unpaid interest, if any. The Convertible Notes will be redeemable by us at our option on or after April 20, 2018 upon the satisfaction of a sale price condition with respect to our Class A common stock and on or after April 20, 2020 without regard to the sale price condition, in each case, at a redemption price in cash equal to 100% of the principal amount of the notes to be repurchased plus accrued and unpaid interest, if any. The net proceeds from the Convertible Note offering was $60.9 million , after deducting offering expenses. We used $18.6 million of the net proceeds from the offering to repay borrowings under and terminate one of our term loans under our 2013 Credit Agreement, of which $18.2 million was used to pay the remaining principal balance. Concurrently with the closing of the Convertible Notes transaction, we repurchased 2.7 million shares of our Class A common stock from certain purchasers of Convertible Notes in privately negotiated transactions for $2.7 million . In addition, $11.4 million of the net proceeds was used to fund the cost of repurchasing 11.8 million shares of our Class A common stock pursuant to the forward stock purchase agreement described in Note 6 - Stockholders' Deficit . We recorded interest expense of $0.9 million and $1.5 million during the three months and six months ended September 30, 2015 , respectively, related to the Convertible Notes. We recorded debt issuance costs of $3.6 million related to the issuance of the Convertible Notes during the six months ended September 30, 2015 . Cinedigm Credit Agreement On October 17, 2013, we entered into a credit agreement (the “Cinedigm Credit Agreement”) with Société Générale. Under the Cinedigm Credit Agreement, as amended in February 2015 and April 2015, we were permitted to borrow an aggregate principal amount of up to $55.0 million , including term loans of $25.0 million (the “Cinedigm Term Loans”) and revolving loans of up to $30.0 million (the “Cinedigm Revolving Loans”). Interest under the Cinedigm Term Loans was charged at a base rate plus 5.0% , or the Eurodollar rate plus 6.0% until the Cinedigm Term Loan was repaid on April 29, 2015 in connection with the Convertible Notes offering. The Cinedigm Revolving Loans bear interest at the base rate plus 4.0% or the Eurodollar rate plus 5.0% . The Base rate, per annum, is equal to the highest of (a) the rate quoted by the Wall Street Journal as the “base rate on corporate loans by at least 75% of the nation’s largest banks,” (b) 0.50% plus the federal funds rate, and (c) the Eurodollar rate plus 1.0% . We repaid the entire outstanding balance of the Cinedigm Term Loans and amended the terms of the Cinedigm Revolving Loans in connection with our issuance of the Convertible Notes. In connection with the repayment of the Cinedigm Term Loans, we wrote-off certain unamortized debt issuance costs and the discount that remained on the balance of the note payable. As a result, we recorded $0.9 million as a loss on extinguishment of debt for the six months ended September 30, 2015 . The April 2015 amendment to the Cinedigm Revolving Loans extended the term of the agreement to March 31, 2018, provided for the release of the equity interests in the subsidiaries that we had previously pledged as collateral, changed the interest rate and replaced all financial covenants with a single debt service coverage ratio test commencing at June 30, 2016 and a $5.0 million minimum liquidity covenant. The Cinedigm Revolving Loans, as amended, bear interest at Base Rate (as defined in the amendment) plus 3% or LIBOR plus 4% , at our election, but in no event may the elected Base Rate or LIBOR rate be less than 1% . Availability under the Cinedigm Revolving Loans was $17.5 million , of which we borrowed $15.1 million as of September 30, 2015 . We are permitted to repay the Cinedigm Revolving Loans, at our option, in whole or in part. In accordance with the April 2015 amendment to the Cinedigm Revolving Loans, we maintain a debt service reserve account for the aggregate amount of scheduled interest and principal payments due on the Cinedigm Revolving Loans and Convertible notes over the next six months. As of September 30, 2015 , we recorded restricted cash of $2.2 million related to the debt service reserve account. No such debt service account was maintained as of March 31, 2015 . 2013 Notes In October 2013, we entered into securities purchase agreements with certain investors, pursuant to which we sold notes in the aggregate principal amount of $5.0 million (the “2013 Notes”) and warrants to purchase an aggregate of 1,500,000 shares of Class A Common Stock (the “2013 Warrants”) to such investors. The proceeds of the sales of the 2013 Notes and 2013 Warrants were primarily used for working capital and general corporate purposes, including financing an acquisition. We allocated a proportional value of $1.6 million to the 2013 Warrants using a Black-Scholes option valuation model with the following assumptions: Risk free interest rate 1.38 % Dividend yield — Expected life (years) 5 Expected volatility 76.25 % We have treated the implied fair value of the 2013 Warrants as a discount to the debt that was issued. The debt discount associated with the 2013 Notes is being amortized as interest expense, using the effective interest method, through the maturity of the 2013 Notes. The principal amount outstanding under the 2013 Notes is due on October 21, 2018. The 2013 Notes bear interest at 9.0% per annum, payable in quarterly installments over the term of the 2013 Notes. The 2013 Notes may be redeemed at any time on or after October 21, 2015, subject to certain premiums. At September 30, 2015 , we were in compliance with all of our debt covenants.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Sep. 30, 2015
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ DEFICIT COMMON STOCK During the six months ended September 30, 2015 , we issued 679,379 shares of Class A common stock as payment for services rendered by our Board of Directors and certain other third-party advisory services, payment of preferred stock dividends and the exercise of employee stock options. PREFERRED STOCK Cumulative dividends in arrears on preferred stock at September 30, 2015 and March 31, 2015 were $0.1 million . In October 2015, we paid preferred stock dividends accrued at September 30, 2015 in the form of 114,644 shares of Class A Common Stock. TREASURY STOCK In connection with the offering of Convertible Notes, on April 29, 2015, we repurchased 2,721,000 shares of our Class A common stock from certain purchasers of Convertible Notes in privately negotiated transactions for $2.7 million , which is reflected as treasury stock in our Condensed Consolidated Balance Sheet as of September 30, 2015 . In addition, we entered into a privately negotiated forward stock purchase transaction with a financial institution, which is one of the lenders under our credit agreement (the "Forward Counterparty"), pursuant to which we paid $11.4 million to purchase 11,791,384 shares of our Class A common stock for settlement that may be settled at any time prior to the fifth year anniversary of the issuance date of the notes. The payment for the forward contract has been reflected as a reduction of Additional Paid-in Capital on our Condensed Consolidated Balance Sheet until such time that the forward contract is settled and the shares are legally delivered to and owned by us. Upon settlement of the forward contract and delivery of the stock, we will reclassify such amount to treasury stock. CINEDIGM’S EQUITY INCENTIVE PLAN Stock Options Awards issued under our equity incentive plan (the "Plan") may be in any of the following forms (or a combination thereof) (i) stock option awards; (ii) stock appreciation rights; (iii) stock or restricted stock or restricted stock units; or (iv) performance awards. The Plan provides for the granting of incentive stock options (“ISOs”) with exercise prices not less than the fair market value of our Class A Common Stock on the date of grant. ISOs granted to shareholders having more than 10% of the total combined voting power of the Company must have exercise prices of at least 110% of the fair market value of our Class A Common Stock on the date of grant. ISOs and non-statutory stock options granted under the Plan are subject to vesting provisions, and exercise is subject to the continuous service of the participant. The exercise prices and vesting periods (if any) for non-statutory options are set at the discretion of our compensation committee. Upon a change of control of the Company, all stock options (incentive and non-statutory) that have not previously vested will vest immediately and become fully exercisable. In connection with the grants of stock options under the Plan, we and the participants have executed stock option agreements setting forth the terms of the grants. The Plan provides for the issuance of up to 14,300,000 shares of Class A Common Stock to employees, outside directors and consultants. The following table summarizes the activity of the Plan related to shares issuable pursuant to outstanding options: Shares Under Option Weighted Average Exercise Price Per Share Balance at March 31, 2015 5,908,670 $ 1.72 Granted 130,000 1.51 Exercised (25,000 ) 0.89 Canceled/forfeited (364,438 ) 1.92 Balance at September 30, 2015 5,649,232 1.69 Stock options granted under the Plan during the six months ended September 30, 2015 vest and become exercisable in 25% increments over four years from their grant dates. The weighted average remaining contractual life for stock options outstanding as of September 30, 2015 was 6.78 years. OPTIONS GRANTED OUTSIDE CINEDIGM’S EQUITY INCENTIVE PLAN In October 2013, we issued options outside of the Plan to 10 individuals that became employees as a result of a business combination. The employees received options to purchase an aggregate of 620,000 shares of our Class A Common Stock at an exercise price of $1.75 per share. The options vest and become exercisable in 25% increments over four years from their grant dates and expire 10 years from the date of grant, if unexercised. As of September 30, 2015 , there were 348,750 unvested options outstanding. In December 2010, we issued options to purchase 4,500,000 shares of Class A Common Stock outside of the Plan as part of our Chief Executive Officer's initial employment agreement with the Company. Such options have exercise prices per share between $1.50 and $5.00 , all of which were vested as of December 2013 and will expire in December 2020. As of September 30, 2015 , all such options remained outstanding. WARRANTS The following table presents information about outstanding warrants to purchase shares of our Class A common stock as of September 30, 2015 . All of the outstanding warrants are fully vested and exercisable. Recipient Amount outstanding Expiration Exercise price per share Sageview Capital, L.P 16,732,824 August 2016 $1.31 Strategic management service provider 525,000 July 2021 $1.72 - $3.00 Warrants issued to creditors in connection with the 2013 Notes (the "2013 Warrants") 1,250,625 October 2018 $1.85 Outstanding warrants held by Sageview Capital, L.P. ("Sageview") contain customary provisions for cashless exercises and anti-dilution adjustments. In addition, the warrants' expiration date may be extended in limited circumstances. On April 29, 2015, the number of shares underlying the warrants issued to Sageview and their related exercise price were adjusted from 16,000,000 and $1.37 to 16,732,824 and $1.31 , respectively, to give effect to an anti-dilution adjustment that resulted from the issuance of the Convertible Notes. Outstanding warrants held by the strategic management service provider were issued in connection with a consulting management services agreement ("MSA"). The warrants may be terminated with 90 days' notice in the event of termination of the MSA. The 2013 Warrants and related 2013 Notes are subject to certain transfer restrictions.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES LEASES We have capital lease obligations covering a facility and computer equipment. In May 2011, we completed the sale of certain assets and liabilities of the Pavilion Theatre and ceased to operate it at that time. We have remained the primary obligor on the Pavilion capital lease and therefore, the capital lease obligation and the related assets under the capital lease continue to be reflected on our Consolidated Balance Sheets as of September 30, 2015 and March 31, 2015 . We have entered into a sub-lease agreement with an unrelated third party purchaser who makes all payments related to the lease and therefore, we have no continuing involvement in the operation of the Pavilion Theatre. We also operate from leased properties under non-cancelable operating lease agreements, certain of which contain escalating lease clauses. LITIGATION Gaiam Dispute On September 30, 2015, we entered into a Confidential Settlement Agreement and Release (the “Settlement”) with Gaiam, Inc. and Gaiam Americas, Inc. (together, “Gaiam”) relating to disputes arising from our October 2013 acquisition of a division of Gaiam that maintained exclusive distribution rights agreements with large independent studios/content providers, and distributed entertainment content through home video, digital and television distribution channels (the “GVE Acquisition”). As previously disclosed, we initiated mediation with Gaiam in August 2014 with respect to certain claims resulting from the GVE Acquisition in accordance with the requirements of the Membership Interest Purchase Agreement (the “MIPA”). In January 2015, we participated in a two -day mediation with Gaiam to determine whether the parties’ disputes could be resolved informally without arbitration. The mediation was not successful, and, therefore, the parties pursued their claims and counterclaims against each other through arbitration. After certain procedural disputes, the parties proceeded with two arbitrations, one before a nationally recognized accounting firm to determine the value of the working capital in accordance with the relevant procedures set forth in the MIPA and the other before the American Arbitration Association to resolve the parties’ non-working capital disputes. The Settlement resolved the claims and counterclaims in both arbitrations and Gaiam agreed to an initial Settlement payment of $2.3 million and a subsequent Settlement payment in an amount to be determined in arbitration. The Settlement sets a schedule for the arbitration that contemplates its conclusion within approximately 90 days, subject to either party’s right to file a petition to vacate and/or modify the final award determined by the arbitrator. As a result, for the three months and six months ended September 30, 2015, we have recorded the initial Settlement payment as litigation recovery, net of expenses in the Condensed Consolidated Statement of Operations. The initial settlement payment was received in October 2015. We are subject to certain legal proceedings in the ordinary course of business. We do not expect any such items to have a significant impact on our financial position and results of operations and liquidity.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURE	SUPPLEMENTAL CASH FLOW INFORMATION For the Six Months Ended September 30, (in thousands) 2015 2014 Cash interest paid $ 6,571 $ 8,474 Accrued dividends on preferred stock $ 89 $ 178 Issuance of common stock for payment of preferred stock dividends $ 178 $ 178 Deferred consideration recorded in connection with sale of business $ — $ 1,050

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We operate in four reportable segments: Phase I Deployment, Phase II Deployment, Services and Content & Entertainment or CEG. Our segments were determined based on the economic characteristics of our products and services, our internal organizational structure, the manner in which our operations are managed and the criteria used by our Chief Operating Decision Maker to evaluate performance, which is generally the segment’s income (loss) from continuing operations before interest, taxes, depreciation and amortization. Certain C orporate assets, liabilities and operating expenses are not allocated to our reportable segments. Operations of: Products and services provided: Phase I Deployment Financing vehicles and administrators for our 3,724 Systems installed nationwide, for which we retain ownership of the Systems and the residual cash flows related to the Systems after the repayment of all non-recourse debt at the expiration of exhibitor master license agreements. Phase II Deployment Financing vehicles and administrators for our 8,904 Systems installed domestically and internationally, for which we retain no ownership of the residual cash flows and digital cinema equipment after the completion of cost recoupment and at the expiration of the exhibitor master license agreements. Services Provides monitoring, collection, verification and other management services to our Phase I Deployment, Phase II Deployment, CDF2 Holdings, as well as to exhibitors who purchase their own equipment. Services also collects and disburses VPFs from motion picture studios, distributors and ACFs from alternative content providers, movie exhibitors and theatrical exhibitors. Content & Entertainment Leading distributor of independent content, and collaborates with producers and other content owners to market, source, curate and distribute independent content to targeted and profitable audiences in theatres and homes, and via mobile and emerging platforms. The following tables present certain financial information related to our reportable segments and Corporate: As of September 30, 2015 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 233 $ — $ 60,682 $ 108,979 $ — $ — Phase II Deployment — — 58,483 23,416 — — Services — — 1,597 — — — Content & Entertainment 28,620 8,701 99,916 — — 86 Corporate 12 — 18,228 — 79,667 5,107 Total $ 28,865 $ 8,701 $ 238,906 $ 132,395 $ 79,667 $ 5,193 As of March 31, 2015 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 252 $ — $ 74,595 $ 123,722 $ — $ — Phase II Deployment — — 61,350 27,638 — — Services — — 1,084 — — — Content & Entertainment 31,520 26,701 122,610 — — 84 Corporate 12 — 13,378 — 45,294 5,411 Total $ 31,784 $ 26,701 $ 273,017 $ 151,360 $ 45,294 $ 5,495 Statements of Operations For the Three Months Ended September 30, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 9,721 $ 3,173 $ 3,109 $ 11,701 $ — $ 27,704 Direct operating (exclusive of depreciation and amortization shown below) 333 109 3 7,943 — 8,388 Selling, general and administrative 85 23 225 5,768 3,408 9,509 Allocation of Corporate overhead — — 405 1,354 (1,759 ) — Provision for doubtful accounts — — — — — — Restructuring, transition and acquisition expenses, net — — — — 63 63 Goodwill impairment — — — 18,000 — 18,000 Litigation settlement recovery, net of expenses — — — (1,208 ) — (1,208 ) Depreciation and amortization of property and equipment 7,151 1,881 — 111 284 9,427 Amortization of intangible assets 11 — — 1,449 3 1,463 Total operating expenses 7,580 2,013 633 33,417 1,999 45,642 Income (loss) from operations $ 2,141 $ 1,160 $ 2,476 $ (21,716 ) $ (1,999 ) $ (17,938 ) The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 3 $ 1 $ — $ 4 Selling, general and administrative — — 1 68 328 397 Total stock-based compensation $ — $ — $ 4 $ 69 $ 328 $ 401 Statements of Operations For the Three Months Ended September 30, 2014 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 8,812 $ 3,038 $ 2,863 $ 9,008 $ — $ 23,721 Direct operating (exclusive of depreciation and amortization shown below) 221 137 1 2,952 — 3,311 Selling, general and administrative 183 34 212 4,717 3,067 8,213 Allocation of Corporate overhead — — 459 1,336 (1,795 ) — Provision for doubtful accounts 36 34 8 — — 78 Restructuring, transition and acquisition expenses, net — — — 576 241 817 Litigation and related expenses — — — 91 — 91 Depreciation and amortization of property and equipment 7,138 1,881 53 51 268 9,391 Amortization of intangible assets 12 — — 1,451 1 1,464 Total operating expenses 7,590 2,086 733 11,174 1,782 23,365 Income (loss) from operations $ 1,222 $ 952 $ 2,130 $ (2,166 ) $ (1,782 ) $ 356 The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ — $ 3 $ — $ 3 Selling, general and administrative — — 6 65 333 404 Total stock-based compensation $ — $ — $ 6 $ 68 $ 333 $ 407 Statements of Operations For the Six Months Ended September 30, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues 17,863 6,068 5,802 20,799 — 50,532 Direct operating (exclusive of depreciation and amortization shown below) 558 200 7 14,915 — 15,680 Selling, general and administrative 338 64 435 10,996 6,494 18,327 Allocation of Corporate overhead — — 807 2,701 (3,508 ) — Provision for doubtful accounts 241 98 — — — 339 Restructuring, transition and acquisition expenses, net — — — — 196 196 Litigation settlement recovery, net of expenses — — — (410 ) — (410 ) Goodwill impairment — — — 18,000 — 18,000 Depreciation and amortization of property and equipment 14,304 3,762 — 151 567 18,784 Amortization of intangible assets 19 — — 2,899 4 2,922 Total operating expenses 15,460 4,124 1,249 49,252 3,753 73,838 Income (loss) from operations $ 2,403 $ 1,944 $ 4,553 $ (28,453 ) $ (3,753 ) $ (23,306 ) The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating — — 7 3 — 10 Selling, general and administrative — — 1 136 926 1,063 Total stock-based compensation — — 8 139 926 1,073 Statements of Operations For the Six Months Ended September 30, 2014 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues 18,296 6,209 5,923 16,150 — 46,578 Direct operating (exclusive of depreciation and amortization shown below) 465 274 52 11,024 — 11,815 Selling, general and administrative 278 73 412 9,100 5,948 15,811 Allocation of Corporate overhead — — 925 2,689 (3,614 ) — Provision for doubtful accounts 96 55 21 — — 172 Restructuring, transition and acquisition expenses, net — — — 1,418 345 1,763 Litigation and related expenses — — — 202 — 202 Depreciation and amortization of property and equipment 14,275 3,762 106 92 532 18,767 Amortization of intangible assets 23 — — 3,324 2 3,349 Total operating expenses 15,137 4,164 1,516 27,849 3,213 51,879 Income (loss) from operations 3,159 2,045 4,407 (11,699 ) (3,213 ) (5,301 ) The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating — — — 6 — 6 Selling, general and administrative — — 10 129 880 1,019 Total stock-based compensation — — 10 135 880 1,025

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND CONSOLIDATION	BASIS OF PRESENTATION AND CONSOLIDATION We have incurred net losses historically and have an accumulated deficit of $333.7 million as of September 30, 2015 . We also have significant contractual obligations related to our recourse and non-recourse debt for the remainder of the fiscal year ending March 31, 2016 and beyond. We may continue to generate net losses for the foreseeable future. We believe the combination of: (i) our cash and restricted cash balances at September 30, 2015 , (ii) the remaining availability under our revolving line of credit, (iii) planned cost reduction initiatives, and (iv) expected cash flows from operations will be sufficient to satisfy our liquidity and capital requirements for the next twelve months. Our capital requirements will depend on many factors, and we may need to use available capital resources and raise additional capital. As a result of our ongoing process of exploring and evaluating potential significant strategic and capital raising opportunities with the help of our financial advisor, we are in discussions with a potential investor to help meet our ongoing capital raising requirements. There can be no assurance that the transaction under discussion will be consummated. Failure to generate additional revenues, raise additional capital or manage discretionary spending could have an adverse effect on our financial position, results of operations or liquidity. The accompanying Condensed Consolidated Financial Statements are unaudited and include the accounts of the Company, its wholly owned subsidiaries and subsidiaries in which it has a controlling interest, and reflect all normal and recurring adjustments necessary for the fair presentation of its financial position, results of operations and cash flows. All material inter-company accounts and transactions have been eliminated in consolidation. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation. Effective September 30, 2015, we elected to change our method of presentation relating to debt issuance costs in accordance with Financial Accounting Standards Board ("FASB") ASU 2015-03 - Simplifying the Presentation of Debt Issuance Costs . Prior to September 30, 2015, our policy was to present debt issuance costs in Other Assets on the Condensed Consolidated Balance Sheets, net of accumulated amortization. Beginning with the period ended September 30, 2015, we have presented these costs as a direct deduction to notes payable.
USE OF ESTIMATES	USE OF ESTIMATES The preparation of these Condensed Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under GAAP, interim accounting for certain expenses, such as the adequacy of accounts receivable reserves, return reserves, inventory reserves, recoupment of advances, minimum guarantees, assessment of goodwill and intangible asset impairment and valuation reserve for income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), although we believe that the disclosures are adequate to make the information presented not misleading. The results of operations for the respective interim periods are not necessarily indicative of the results expected for the full year. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with our annual consolidated financial statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2015 .
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. We maintain bank accounts with major banks, which from time to time may exceed the Federal Deposit Insurance Corporation’s insured limits. We periodically assess the financial condition of the institutions and believe that the risk of any loss is minimal.
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE We maintain reserves for potential credit losses on accounts receivable. We review the composition of accounts receivable and analyze historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. Reserves are recorded primarily on a specific identification basis. Our Content & Entertainment segment recognizes accounts receivable, net of an estimated allowance for product returns and customer chargebacks, at the time that it recognizes revenue from a sale. We base the amount of the returns allowance and customer chargebacks upon historical experience and future expectations. We record accounts receivable, long-term in connection with activation fees that we earn from Systems deployments that have extended payment terms. Such accounts receivable are discounted to their present value at prevailing market rates and are recorded as other assets in the Condensed Consolidated Balance Sheets.
ADVANCES	ADVANCES Advances are recorded within prepaid and other current assets within the Condensed Consolidated Balance Sheets and represent amounts prepaid to studios or content producers for which we provide content distribution services. We evaluate advances regularly for recoverability and record charges for amounts that we expect may not be recoverable as of the balance sheet date.
INVENTORY	INVENTORY Inventory consists of finished goods of Company owned, physical DVD and Blu-ray Disc titles and is stated at the lower of cost (determined based on weighted average cost) or market. We identify inventory items to be written down for obsolescence based on their sales status and condition. We write down discontinued or slow moving inventories based on an estimate of the markdown to retail price needed to sell through our current stock level of the inventories.
RESTRICTED CASH	RESTRICTED CASH Our 2013 Term Loans, Prospect Loan and Cinedigm Credit Agreement require that we maintain specified cash balances that are restricted to repayment of interest (see Note 5 - Notes Payable ).
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows: Computer equipment and software 3 - 5 years Digital cinema projection systems 10 years Machinery and equipment 3 - 10 years Furniture and fixtures 3 - 6 years Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the leasehold improvements. Repair and maintenance costs are charged to expense as incurred. Major renewals, improvements and additions are capitalized. Upon the sale or other disposition of any property and equipment, the cost and related accumulated depreciation and amortization are removed from the accounts and the gain or loss on disposal is included in the Condensed Consolidated Statements of Operations.
ACCOUNTING FOR DERIVATIVE ACTIVITIES	ACCOUNTING FOR DERIVATIVE ACTIVITIES Derivative financial instruments are recorded at fair value. Changes in the fair value of derivative financial instruments are either recognized in accumulated other comprehensive loss (a component of stockholders' deficit) or in the Condensed Consolidated Statements of Operations depending on whether the derivative qualifies for hedge accounting. We have entered into two separate interest rate cap transactions to limit our exposure to interest rates related to our 2013 Term Loans and Prospect Loan. The interest rate caps on the 2013 Term Loans and Prospect Loan mature in March of 2016 and 2018, respectively. We have not sought hedge accounting treatment for these instruments and therefore, changes in the value of our interest rate derivatives were recorded in the Condensed Consolidated Statements of Operations.
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The fair value measurement disclosures are grouped into three levels based on valuation factors: • Level 1 – quoted prices in active markets for identical investments • Level 2 – other significant observable inputs (including quoted prices for similar investments and market corroborated inputs) • Level 3 – significant unobservable inputs (including our own assumptions in determining the fair value of investments) Assets and liabilities measured at fair value on a recurring basis use the market approach, where prices and other relevant information are generated by market transactions involving identical or comparable assets or liabilities. The following tables summarize the levels of fair value measurements of our financial assets and liabilities: As of September 30, 2015 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 8,983 $ — $ — $ 8,983 Interest rate derivatives — 172 — 172 $ 8,983 $ 172 $ — $ 9,155 As of March 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 6,751 $ — $ — $ 6,751 Interest rate derivatives — 208 — 208 $ 6,751 $ 208 $ — $ 6,959 Our cash and cash equivalents, accounts receivable, unbilled revenue and accounts payable and accrued expenses are financial instruments and are recorded at cost in the Condensed Consolidated Balance Sheets. The estimated fair values of these financial instruments approximate their carrying amounts because of their short-term nature. The carrying amount of accounts receivable, long-term and notes receivable approximates fair value based on the discounted cash flows of such instruments using current assumptions at the balance sheet date. At September 30, 2015 and March 31, 2015 , the estimated fair value of our fixed rate debt approximated its carrying amounts. We estimated the fair value of debt based upon current interest rates available to us at the respective balance sheet dates for arrangements with similar terms and conditions. Based on borrowing rates currently available to us for loans with similar terms, the carrying value of notes payable and capital lease obligations approximates fair value.
IMPAIRMENT OF LONG-LIVED AND FINITE-LIVED ASSETS	IMPAIRMENT OF LONG-LIVED AND FINITE-LIVED ASSETS We review the recoverability of our long-lived assets and finite-lived intangible assets, when events or conditions occur that indicate a possible impairment exists. The assessment for recoverability is based primarily on our ability to recover the carrying value of our long-lived and finite-lived assets from expected future undiscounted net cash flows. If the total of expected future undiscounted net cash flows is less than the total carrying value of the asset, the asset is deemed not to be recoverable and possibly impaired. We then estimate the fair value of the asset to determine whether an impairment loss should be recognized. An impairment loss will be recognized if the asset's fair value is determined to be less than its carrying value. Fair value is determined by computing the expected future discounted cash flows. During the six months ended September 30, 2015 and 2014 , no impairment charge was recorded from continuing operations for long-lived assets or finite-lived assets.
GOODWILL AND INDEFINITE-LIVED INTANGIBLE ASSETS	GOODWILL Goodwill is the excess of the purchase price paid over the fair value of the net assets of an acquired business. Goodwill is tested for impairment on an annual basis at the end of the fourth quarter of each fiscal year, or more often if warranted by events or changes in circumstances indicating that the carrying value of a reporting unit may exceed fair value, also known as impairment indicators. Our process of evaluating goodwill for impairment involves the determination of fair value of goodwill compared to its carrying value. Our only reporting unit with goodwill is our Content & Entertainment reporting unit, which had a goodwill carrying value that was materially derived from our October 2013 acquisition of a division of Gaiam, Inc. and Gaiam Americas, Inc. (the "GVE acquisition"). Inherent in the fair value determination for each reporting unit are certain judgments and estimates relating to future cash flows, including management’s interpretation of current economic indicators and market conditions, and assumptions about our strategic plans with regard to its operations. To the extent additional information arises, market conditions change or our strategies change, it is possible that the conclusion regarding whether our remaining goodwill is impaired could change and result in future goodwill impairment charges that will have a material effect on our consolidated financial position or results of operations. As a result of factors discussed in detail below, we performed a quantitative fair value assessment for our CEG reporting unit as of September 30, 2015 , and determined that the reporting unit had a fair value less than its carrying amount. As a result, we recorded a goodwill impairment charge of $18.0 million for the three months and six months ended September 30, 2015 . In determining fair value we used various assumptions, including expectations of future cash flows based on projections or forecasts derived from analysis of business prospects, economic or market trends and any regulatory changes that may occur. We estimated the fair value of the reporting unit using a net present value methodology, which is dependent on significant assumptions related to estimated future discounted cash flows, discount rates and tax rates. The assumptions used in our goodwill impairment tests should not be construed as earnings guidance or long-term projections. Our cash flow assumptions are based on a 5-year internal projection of adjusted EBITDA for the Content & Entertainment reporting unit. We assumed a market-based weighted average cost of capital of 17% to discount cash flows for our CEG segment and used a blended federal and state tax rate of 40% . We reassessed the fair value of our CEG reporting unit in the second quarter of 2015 because the reporting unit is expected to perform below the fiscal year 2016 forecast that we had established during our annual testing of goodwill at March 31, 2015. The Company faced challenges in the first half of fiscal 2016 that significantly impacted our ability to establish the new contracts, customer relationships and OTT channels that we had originally anticipated and shifted a portion of management's focus away from business operations. As a result, our fiscal 2016 projections for revenue and adjusted EBITDA are expected to fall materially below our original estimates, particularly those for the second half of the fiscal year. Future decreases in the fair value of our CEG reporting unit may require us to record additional goodwill impairment, particularly if our expectations of future cash flows are not achieved.
REVENUE RECOGNITION	REVENUE RECOGNITION Phase I Deployment and Phase II Deployment Virtual print fees (“VPFs”) are earned, net of administrative fees, pursuant to contracts with movie studios and distributors, whereby amounts are payable by a studio to Phase 1 DC and to Phase 2 DC when movies distributed by the studio are displayed on screens utilizing our Systems installed in movie theatres. VPFs are earned and payable to Phase 1 DC based on a defined fee schedule with a reduced VPF rate year over year until the sixth year at which point the VPF rate remains unchanged through the tenth year, at which point the VPFs phase out. One VPF is payable for every digital title displayed per System. The amount of VPF revenue is dependent on the number of movie titles released and displayed using the Systems in any given accounting period. VPF revenue is recognized in the period in which the digital title first plays on a System for general audience viewing in a digitally-equipped movie theatre, as Phase 1 DC’s and Phase 2 DC’s performance obligations have been substantially met at that time. Beginning in December 2015, certain Phase 1 DC Systems will have reached the conclusion of their deployment payment period. In accordance with existing agreements with distributors, a substantial portion of VPF revenues will cease to be recognized on such Systems. Because the Phase I deployment installation period ended in November 2007, a majority of the VPF revenue associated with the Phase I systems will end by November 2017. While the absence of such revenue is not expected to be material to the Condensed Consolidated Statements of Operations during the fiscal year ending March 31, 2016 , it is expected to have a material cumulative impact in subsequent periods. Phase 2 DC’s agreements with distributors require the payment of VPFs, according to a defined fee schedule, for ten years from the date each system is installed; however, Phase 2 DC may no longer collect VPFs once “cost recoupment,” as defined in the agreements, is achieved. Cost recoupment will occur once the cumulative VPFs and other cash receipts collected by Phase 2 DC have equaled the total of all cash outflows, including the purchase price of all Systems, all financing costs, all “overhead and ongoing costs”, as defined, and including service fees, subject to maximum agreed upon amounts during the three-year rollout period and thereafter. Further, if cost recoupment occurs before the end of the eighth contract year, the studio will pay us a one-time “cost recoupment bonus”. Any other cash flows, net of expenses, received by Phase 2 DC following the achievement of cost recoupment are required to be returned to the distributors on a pro-rata basis. At this time, the Company cannot estimate the timing or probability of the achievement of cost recoupment. Beginning in December 2018, certain Phase 2 DC Systems will have reached the conclusion of their deployment payment period, subject to earlier achievement of cost recoupment. In accordance with existing agreements with distributors, VPF revenues will cease to be recognized on such Systems. Because the Phase II deployment installation period ended in December 2012, a majority of the VPF revenue associated with the Phase I systems will end by December 2022 or earlier if cost recoupment is achieved. Alternative content fees (“ACFs”) are earned pursuant to contracts with movie exhibitors, whereby amounts are payable to Phase 1 DC and to Phase 2 DC, generally either a fixed amount or as a percentage of the applicable box office revenue derived from the exhibitor’s showing of content other than feature movies, such as concerts and sporting events (typically referred to as “alternative content”). ACF revenue is recognized in the period in which the alternative content first opens for audience viewing. Revenues earned in connection with up front exhibitor contributions are deferred and recognized over the expected cost recoupment period. Services Exhibitors who purchased and own Systems using their own financing in the Phase II Deployment paid us an upfront activation fee that is generally $2.0 thousand per screen (the “Exhibitor-Buyer Structure”). These upfront activation fees are recognized in the period in which these Systems were delivered and are ready for content, as we had no further obligations to the customer after that time and collection was reasonably assured. In addition, we recognize activation fee revenue of between $1.0 thousand and $2.0 thousand on Phase 2 DC Systems and for Systems installed by CDF2 Holdings (See Note 4 - Other Interests ) upon installation and such fees are generally collected upfront upon installation. Our services segment manages and collects VPFs on behalf of exhibitors, for which it earns an administrative fee equal to 10% of the VPFs collected. Our Services segment earns an administrative fee of approximately 5% of VPFs collected and, in addition, earns an incentive service fee equal to 2.5% of the VPFs earned by Phase 1 DC. This administrative fee is recognized in the period in which the billing of VPFs occurs, as performance obligations have been substantially met at that time. Content & Entertainment CEG earns fees for the distribution of content in the home entertainment markets via several distribution channels, including digital, VOD, and physical goods (e.g., DVD and Blu-ray Discs). Fees earned are typically based on the gross amounts billed to our customers less the amounts owed to the media studios or content producers under distribution agreements, and gross media sales of owned or licensed content. Depending upon the nature of the agreements with the platform and content providers, the fee rate that we earn varies. Generally, revenues are recognized when content is available for subscription on the digital platform, at the time of shipment for physical goods, or point-of-sale for transactional and VOD services. Reserves for sales returns and other allowances are recorded based upon historical experience. If actual future returns and allowances differ from past experience, adjustments to our allowances may be required. Sales returns and allowances are reported as a reduction of revenues. CEG also has contracts for the theatrical distribution of third party feature movies and alternative content. CEG’s distribution fee revenue and CEG's participation in box office receipts is recognized at the time a feature movie and alternative content are viewed. CEG has the right to receive or bill a portion of the theatrical distribution fee in advance of the exhibition date, and therefore such amount is recorded as a receivable at the time of execution, and all related distribution revenue is deferred until the theatrical release date of the third party feature movie or alternative content.
DIRECT OPERATING COSTS	DIRECT OPERATING COSTS Direct operating costs primarily consist of operating costs such as cost of goods sold, fulfillment expenses, shipping costs, royalty expenses, participation expenses, marketing and
PARTICIPATIONS PAYABLE	PARTICIPATIONS AND ROYALTIES PAYABLE We record liabilities within accounts payable and accrued expenses on the Condensed Consolidated Balance Sheet, that represent amounts owed to studios or content producers for royalties owed under licensing arrangements when we provide content distribution services. We identify and record as a reduction to the liability any expenses that are to be reimbursed to us by such studios or content producers.
DEBT ISSUANCE COSTS	DEBT ISSUANCE COSTS We incur debt issuance costs in connection with long-term debt financings. Such costs are recorded as a direct deduction to notes payable and amortized over the terms of the respective debt obligations using the effective interest rate method (see Note 5 - Notes Payable ). Debt issuance costs recorded in connection with revolving debt arrangements are presented in other assets on the Condensed Consolidated Balance Sheets and are amortized over the term of the revolving debt agreements using the effective interest rate method.
STOCK-BASED COMPENSATION	The risk-free interest rate used in the Black-Scholes option pricing model for options granted under our stock option plan awards is the historical yield on U.S. Treasury securities with equivalent remaining lives. We do not currently anticipate paying any cash dividends on common stock in the foreseeable future. Consequently, an expected dividend yield of zero is used in the Black-Scholes option pricing model. We estimate the expected life of options granted under our stock option plans using both exercise behavior and post-vesting termination behavior, as well as consideration of outstanding options. We estimate expected volatility for options granted under our stock option plans based on a measure of our Class A common stock's historical volatility in the trading market.
NET LOSS PER SHARE	NET LOSS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS Basic and diluted net loss per common share has been calculated as follows: Basic and diluted net loss per common share attributable to common stockholders = Net loss attributable to common stockholders Weighted average number of common stock outstanding during the period Stock issued and treasury stock repurchased during the period are weighted for the portion of the period that they are outstanding. The shares to be repurchased in connection with the forward stock purchase transaction discussed in Note 6 - Stockholders' Deficit are considered repurchased for the purposes of calculating earnings per share and therefore the calculation of weighted average shares outstanding as of September 30, 2015 excludes approximately 11.8 million shares that will be repurchased as a result of the forward stock purchase transaction. Loss per share from continuing operations is calculated similarly to basic and diluted loss per common share attributable to common shareholders, except that it uses loss from continuing operations in the numerator and takes into account the net loss attributable to noncontrolling interest.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued new accounting guidance on revenue recognition. The new standard provides for a single five-step model to be applied to all revenue contracts with customers as well as requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. The guidance will be effective during our fiscal year ending March 31, 2019 with early adoption permitted. We are evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. In June 2014, the FASB issued an accounting standards update, which provides additional guidance on how to account for share-based payments where the terms of an award may provide that the performance target could be achieved after an employee completes the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite period is treated as a performance condition. The guidance will be effective during our fiscal year ending March 31, 2017. We are currently evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. The standards update may be applied (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on our consolidated financial statements. In August 2014, the FASB amended accounting guidance pertaining to going concern considerations by company management. The amendments in this update state that in connection with preparing financial statements for each annual and interim reporting period, an entity's management should evaluate whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued, when applicable). The guidance will be effective during our fiscal year ending March 31, 2018. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on our consolidated financial statements. In February 2015, the FASB issued an accounting standards update, which amended accounting guidance on consolidation. The amendments affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The update will be effective during our fiscal year ending March 31, 2017. We are evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. In April 2015, the FASB issued new guidance related to the customer’s accounting for fees paid in a cloud computing arrangement, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2015. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on our consolidated financial statements. In July 2015, the FASB issued an accounting standards update that requires an entity to measure inventory balances at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. We are evaluating the impact of the adoption of this accounting standard update on our consolidated financial statements. In September 2015, the FASB issued new guidance with respect to Business Combinations. The new guidance requires the acquirer in a Business Combination to recognize provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The new guidance is effective for public entities for which fiscal years begin after December 15, 2016, and interim periods within the fiscal years beginning after December 31, 2017. The accounting standard must be applied prospectively to adjustments to provisional amounts that occur after the effective date, with early adoption permitted. The adoption of this standard is not expected to have a material impact on our consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Estimated useful lives of Property and equipment	Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows: Computer equipment and software 3 - 5 years Digital cinema projection systems 10 years Machinery and equipment 3 - 10 years Furniture and fixtures 3 - 6 years
Fair Value Measurements of financial assets	The following tables summarize the levels of fair value measurements of our financial assets and liabilities: As of September 30, 2015 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 8,983 $ — $ — $ 8,983 Interest rate derivatives — 172 — 172 $ 8,983 $ 172 $ — $ 9,155 As of March 31, 2015 (in thousands) Level 1 Level 2 Level 3 Total Restricted cash $ 6,751 $ — $ — $ 6,751 Interest rate derivatives — 208 — 208 $ 6,751 $ 208 $ — $ 6,959
Schedule of Goodwill	Information related to the goodwill allocated to our Content & Entertainment segment is as follows: (In thousands) Goodwill As of March 31, 2015 $ 26,701 Goodwill impairment (18,000 ) As of September 30, 2015 $ 8,701 Gross amounts of goodwill and accumulated impairment charges that we have recorded are as follows: (In thousands) Goodwill Goodwill $ 32,701 Accumulated impairment losses (24,000 ) Net goodwill at September 30, 2015 $ 8,701
Assumptions used in Black-Scholes option valuation model for estimating fair value of options	We estimated the fair value of stock options at the date of each grant using a Black-Scholes option valuation model with the following assumptions: For the Three Months Ended September 30, For the Six Months Ended September 30, Assumptions for Option Grants 2015 2014 2015 2014 Range of risk-free interest rates 1.5% - 1.6% 1.6 - 1.8% 1.4% - 1.7% 1.6 - 1.8% Dividend yield — — — — Expected life (years) 5 5 5 5 Range of expected volatilities 70.7 - 70.7% 71.4 - 71.5% 70.6 - 70.9% 71.4 - 72.3%
Employee stock-based compensation expense related to stock-based awards	Employee and director stock-based compensation expense from continuing operations related to our stock-based awards was as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, (In thousands) 2015 2014 2015 2014 Direct operating $ 4 $ 3 $ 10 $ 6 Selling, general and administrative 397 404 1,063 1,019 $ 401 $ 407 $ 1,073 $ 1,025

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Income/Loss From Discontinued Operations	Details of income from discontinued operations are as follows: (In thousands) For the Three Months Ended September 30, 2014 For the Six Months Ended September 30, 2014 Revenues $ 919 $ 1,968 Costs and Expenses: Direct operating 151 326 Selling, general and administrative 561 1,093 Research and development 5 14 Total operating expenses 717 1,433 Income from operations 202 535 Other expense, net (8 ) (93 ) Income before provision for income taxes 194 442 Provision for income taxes 99 — Income from discontinued operations, net of taxes $ 293 $ 442

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Sep. 30, 2015
Debt Instrument [Line Items]
Schedule of Notes Payable	Notes payable consisted of the following: September 30, 2015 March 31, 2015 (In thousands) Current Portion Long Term Portion Current Portion Long Term Portion 2013 Term Loans, net of debt discount $ 22,976 $ 23,471 $ 25,125 $ 36,418 Prospect Loan — 67,204 — 67,967 KBC Facilities 7,646 15,541 7,649 19,361 P2 Vendor Note 141 356 125 393 P2 Exhibitor Notes 77 147 74 186 Total non-recourse notes payable 30,840 106,719 32,973 124,325 Less: Unamortized debt issuance costs — (5,164 ) — (5,938 ) Total non-recourse notes payable, net of unamortized debt issuance costs $ 30,840 $ 101,555 $ 32,973 $ 118,387 5.5% Convertible Notes Due 2035 $ — $ 64,000 $ — $ — Cinedigm Term Loans — — — 17,965 Cinedigm Revolving Loans — 15,127 24,294 — 2013 Notes — 3,932 — 3,785 Total recourse notes payable — 83,059 24,294 21,750 Less: Unamortized debt issuance costs — (3,392 ) — (750 ) Total recourse notes payable, net of unamortized debt issuance costs $ — $ 79,667 $ 24,294 $ 21,000 Total notes payable, net of unamortized debt issuance costs $ 30,840 $ 181,222 $ 57,267 $ 139,387
Schedule of Credit Facilities	The following table presents a summary of the KBC Facilities (dollar amounts in thousands): Outstanding Principal Balance Facility 1 Credit Facility Interest Rate 2 Maturity Date September 30, 2015 March 31, 2015 1 22,336 3.75 % September 2018 8,776 10,371 2 13,312 3.75 % March 2018 5,705 6,656 3 11,425 3.75 % March 2019 5,712 6,528 4 6,450 3.75 % September 2018 2,994 3,455 $ 53,523 23,187 27,010 1. For each facility, principal is to be repaid in twenty-eight quarterly installments. 2. Each of the facilities bears interest at the three-month LIBOR rate, which was 0.33% at September 30, 2015 , plus the interest rate noted above.
Schedule of Assumptions for Fair Value of Warrant LIabilities	Risk free interest rate 1.38 % Dividend yield — Expected life (years) 5 Expected volatility 76.25 %
2013 Term Loans
Debt Instrument [Line Items]
Schedule of Debt Outstanding	The balance of the 2013 Term Loans, net of the original issue discount, was as follows: (In thousands) September 30, 2015 March 31, 2015 2013 Term Loans, at issuance, net $ 125,087 $ 125,087 Payments to date (78,476 ) (63,348 ) Discount on 2013 Term Loans (164 ) (196 ) 2013 Term Loans, net 46,447 61,543 Less current portion (22,976 ) (25,125 ) Total long term portion $ 23,471 $ 36,418
2013 Prospect Term Loan Agreement
Debt Instrument [Line Items]
Schedule of Debt Outstanding	(In thousands) September 30, 2015 March 31, 2015 Prospect Loan, at issuance $ 70,000 $ 70,000 PIK Interest 4,495 3,640 Payments to date (7,291 ) (5,673 ) Prospect Loan, net 67,204 67,967 Less current portion — — Total long term portion $ 67,204 $ 67,967

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Outstanding Stock Options	The following table summarizes the activity of the Plan related to shares issuable pursuant to outstanding options: Shares Under Option Weighted Average Exercise Price Per Share Balance at March 31, 2015 5,908,670 $ 1.72 Granted 130,000 1.51 Exercised (25,000 ) 0.89 Canceled/forfeited (364,438 ) 1.92 Balance at September 30, 2015 5,649,232 1.69
Schedule of Warrants	The following table presents information about outstanding warrants to purchase shares of our Class A common stock as of September 30, 2015 . All of the outstanding warrants are fully vested and exercisable. Recipient Amount outstanding Expiration Exercise price per share Sageview Capital, L.P 16,732,824 August 2016 $1.31 Strategic management service provider 525,000 July 2021 $1.72 - $3.00 Warrants issued to creditors in connection with the 2013 Notes (the "2013 Warrants") 1,250,625 October 2018 $1.85

SUPPLEMENTAL CASH FLOW INFORM22

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flows	For the Six Months Ended September 30, (in thousands) 2015 2014 Cash interest paid $ 6,571 $ 8,474 Accrued dividends on preferred stock $ 89 $ 178 Issuance of common stock for payment of preferred stock dividends $ 178 $ 178 Deferred consideration recorded in connection with sale of business $ — $ 1,050

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting [Abstract]
Schedule of Segment Reporting, Assets and Debt	The following tables present certain financial information related to our reportable segments and Corporate: As of September 30, 2015 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 233 $ — $ 60,682 $ 108,979 $ — $ — Phase II Deployment — — 58,483 23,416 — — Services — — 1,597 — — — Content & Entertainment 28,620 8,701 99,916 — — 86 Corporate 12 — 18,228 — 79,667 5,107 Total $ 28,865 $ 8,701 $ 238,906 $ 132,395 $ 79,667 $ 5,193 As of March 31, 2015 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 252 $ — $ 74,595 $ 123,722 $ — $ — Phase II Deployment — — 61,350 27,638 — — Services — — 1,084 — — — Content & Entertainment 31,520 26,701 122,610 — — 84 Corporate 12 — 13,378 — 45,294 5,411 Total $ 31,784 $ 26,701 $ 273,017 $ 151,360 $ 45,294 $ 5,495
Schedule of Segment Reporting, Statement of Operations	Statements of Operations For the Six Months Ended September 30, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues 17,863 6,068 5,802 20,799 — 50,532 Direct operating (exclusive of depreciation and amortization shown below) 558 200 7 14,915 — 15,680 Selling, general and administrative 338 64 435 10,996 6,494 18,327 Allocation of Corporate overhead — — 807 2,701 (3,508 ) — Provision for doubtful accounts 241 98 — — — 339 Restructuring, transition and acquisition expenses, net — — — — 196 196 Litigation settlement recovery, net of expenses — — — (410 ) — (410 ) Goodwill impairment — — — 18,000 — 18,000 Depreciation and amortization of property and equipment 14,304 3,762 — 151 567 18,784 Amortization of intangible assets 19 — — 2,899 4 2,922 Total operating expenses 15,460 4,124 1,249 49,252 3,753 73,838 Income (loss) from operations $ 2,403 $ 1,944 $ 4,553 $ (28,453 ) $ (3,753 ) $ (23,306 ) Statements of Operations For the Six Months Ended September 30, 2014 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues 18,296 6,209 5,923 16,150 — 46,578 Direct operating (exclusive of depreciation and amortization shown below) 465 274 52 11,024 — 11,815 Selling, general and administrative 278 73 412 9,100 5,948 15,811 Allocation of Corporate overhead — — 925 2,689 (3,614 ) — Provision for doubtful accounts 96 55 21 — — 172 Restructuring, transition and acquisition expenses, net — — — 1,418 345 1,763 Litigation and related expenses — — — 202 — 202 Depreciation and amortization of property and equipment 14,275 3,762 106 92 532 18,767 Amortization of intangible assets 23 — — 3,324 2 3,349 Total operating expenses 15,137 4,164 1,516 27,849 3,213 51,879 Income (loss) from operations 3,159 2,045 4,407 (11,699 ) (3,213 ) (5,301 ) Statements of Operations For the Three Months Ended September 30, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 9,721 $ 3,173 $ 3,109 $ 11,701 $ — $ 27,704 Direct operating (exclusive of depreciation and amortization shown below) 333 109 3 7,943 — 8,388 Selling, general and administrative 85 23 225 5,768 3,408 9,509 Allocation of Corporate overhead — — 405 1,354 (1,759 ) — Provision for doubtful accounts — — — — — — Restructuring, transition and acquisition expenses, net — — — — 63 63 Goodwill impairment — — — 18,000 — 18,000 Litigation settlement recovery, net of expenses — — — (1,208 ) — (1,208 ) Depreciation and amortization of property and equipment 7,151 1,881 — 111 284 9,427 Amortization of intangible assets 11 — — 1,449 3 1,463 Total operating expenses 7,580 2,013 633 33,417 1,999 45,642 Income (loss) from operations $ 2,141 $ 1,160 $ 2,476 $ (21,716 ) $ (1,999 ) $ (17,938 ) Statements of Operations For the Three Months Ended September 30, 2014 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 8,812 $ 3,038 $ 2,863 $ 9,008 $ — $ 23,721 Direct operating (exclusive of depreciation and amortization shown below) 221 137 1 2,952 — 3,311 Selling, general and administrative 183 34 212 4,717 3,067 8,213 Allocation of Corporate overhead — — 459 1,336 (1,795 ) — Provision for doubtful accounts 36 34 8 — — 78 Restructuring, transition and acquisition expenses, net — — — 576 241 817 Litigation and related expenses — — — 91 — 91 Depreciation and amortization of property and equipment 7,138 1,881 53 51 268 9,391 Amortization of intangible assets 12 — — 1,451 1 1,464 Total operating expenses 7,590 2,086 733 11,174 1,782 23,365 Income (loss) from operations $ 1,222 $ 952 $ 2,130 $ (2,166 ) $ (1,782 ) $ 356
Schedule of Segement Reporting, Employee Stock-based Compensation Expense	The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating — — 7 3 — 10 Selling, general and administrative — — 1 136 926 1,063 Total stock-based compensation — — 8 139 926 1,073 The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ — $ 3 $ — $ 3 Selling, general and administrative — — 6 65 333 404 Total stock-based compensation $ — $ — $ 6 $ 68 $ 333 $ 407 The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 3 $ 1 $ — $ 4 Selling, general and administrative — — 1 68 328 397 Total stock-based compensation $ — $ — $ 4 $ 69 $ 328 $ 401
SEGMENT INFORMATION		SEGMENT INFORMATION We operate in four reportable segments: Phase I Deployment, Phase II Deployment, Services and Content & Entertainment or CEG. Our segments were determined based on the economic characteristics of our products and services, our internal organizational structure, the manner in which our operations are managed and the criteria used by our Chief Operating Decision Maker to evaluate performance, which is generally the segment’s income (loss) from continuing operations before interest, taxes, depreciation and amortization. Certain C orporate assets, liabilities and operating expenses are not allocated to our reportable segments. Operations of: Products and services provided: Phase I Deployment Financing vehicles and administrators for our 3,724 Systems installed nationwide, for which we retain ownership of the Systems and the residual cash flows related to the Systems after the repayment of all non-recourse debt at the expiration of exhibitor master license agreements. Phase II Deployment Financing vehicles and administrators for our 8,904 Systems installed domestically and internationally, for which we retain no ownership of the residual cash flows and digital cinema equipment after the completion of cost recoupment and at the expiration of the exhibitor master license agreements. Services Provides monitoring, collection, verification and other management services to our Phase I Deployment, Phase II Deployment, CDF2 Holdings, as well as to exhibitors who purchase their own equipment. Services also collects and disburses VPFs from motion picture studios, distributors and ACFs from alternative content providers, movie exhibitors and theatrical exhibitors. Content & Entertainment Leading distributor of independent content, and collaborates with producers and other content owners to market, source, curate and distribute independent content to targeted and profitable audiences in theatres and homes, and via mobile and emerging platforms. The following tables present certain financial information related to our reportable segments and Corporate: As of September 30, 2015 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 233 $ — $ 60,682 $ 108,979 $ — $ — Phase II Deployment — — 58,483 23,416 — — Services — — 1,597 — — — Content & Entertainment 28,620 8,701 99,916 — — 86 Corporate 12 — 18,228 — 79,667 5,107 Total $ 28,865 $ 8,701 $ 238,906 $ 132,395 $ 79,667 $ 5,193 As of March 31, 2015 (In thousands) Intangible Assets, net Goodwill Total Assets Notes Payable, Non-Recourse Notes Payable Capital Leases Phase I Deployment $ 252 $ — $ 74,595 $ 123,722 $ — $ — Phase II Deployment — — 61,350 27,638 — — Services — — 1,084 — — — Content & Entertainment 31,520 26,701 122,610 — — 84 Corporate 12 — 13,378 — 45,294 5,411 Total $ 31,784 $ 26,701 $ 273,017 $ 151,360 $ 45,294 $ 5,495 Statements of Operations For the Three Months Ended September 30, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 9,721 $ 3,173 $ 3,109 $ 11,701 $ — $ 27,704 Direct operating (exclusive of depreciation and amortization shown below) 333 109 3 7,943 — 8,388 Selling, general and administrative 85 23 225 5,768 3,408 9,509 Allocation of Corporate overhead — — 405 1,354 (1,759 ) — Provision for doubtful accounts — — — — — — Restructuring, transition and acquisition expenses, net — — — — 63 63 Goodwill impairment — — — 18,000 — 18,000 Litigation settlement recovery, net of expenses — — — (1,208 ) — (1,208 ) Depreciation and amortization of property and equipment 7,151 1,881 — 111 284 9,427 Amortization of intangible assets 11 — — 1,449 3 1,463 Total operating expenses 7,580 2,013 633 33,417 1,999 45,642 Income (loss) from operations $ 2,141 $ 1,160 $ 2,476 $ (21,716 ) $ (1,999 ) $ (17,938 ) The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ 3 $ 1 $ — $ 4 Selling, general and administrative — — 1 68 328 397 Total stock-based compensation $ — $ — $ 4 $ 69 $ 328 $ 401 Statements of Operations For the Three Months Ended September 30, 2014 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues $ 8,812 $ 3,038 $ 2,863 $ 9,008 $ — $ 23,721 Direct operating (exclusive of depreciation and amortization shown below) 221 137 1 2,952 — 3,311 Selling, general and administrative 183 34 212 4,717 3,067 8,213 Allocation of Corporate overhead — — 459 1,336 (1,795 ) — Provision for doubtful accounts 36 34 8 — — 78 Restructuring, transition and acquisition expenses, net — — — 576 241 817 Litigation and related expenses — — — 91 — 91 Depreciation and amortization of property and equipment 7,138 1,881 53 51 268 9,391 Amortization of intangible assets 12 — — 1,451 1 1,464 Total operating expenses 7,590 2,086 733 11,174 1,782 23,365 Income (loss) from operations $ 1,222 $ 952 $ 2,130 $ (2,166 ) $ (1,782 ) $ 356 The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating $ — $ — $ — $ 3 $ — $ 3 Selling, general and administrative — — 6 65 333 404 Total stock-based compensation $ — $ — $ 6 $ 68 $ 333 $ 407 Statements of Operations For the Six Months Ended September 30, 2015 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues 17,863 6,068 5,802 20,799 — 50,532 Direct operating (exclusive of depreciation and amortization shown below) 558 200 7 14,915 — 15,680 Selling, general and administrative 338 64 435 10,996 6,494 18,327 Allocation of Corporate overhead — — 807 2,701 (3,508 ) — Provision for doubtful accounts 241 98 — — — 339 Restructuring, transition and acquisition expenses, net — — — — 196 196 Litigation settlement recovery, net of expenses — — — (410 ) — (410 ) Goodwill impairment — — — 18,000 — 18,000 Depreciation and amortization of property and equipment 14,304 3,762 — 151 567 18,784 Amortization of intangible assets 19 — — 2,899 4 2,922 Total operating expenses 15,460 4,124 1,249 49,252 3,753 73,838 Income (loss) from operations $ 2,403 $ 1,944 $ 4,553 $ (28,453 ) $ (3,753 ) $ (23,306 ) The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating — — 7 3 — 10 Selling, general and administrative — — 1 136 926 1,063 Total stock-based compensation — — 8 139 926 1,073 Statements of Operations For the Six Months Ended September 30, 2014 (Unaudited, in thousands) Phase I Phase II Services Content & Entertainment Corporate Consolidated Revenues 18,296 6,209 5,923 16,150 — 46,578 Direct operating (exclusive of depreciation and amortization shown below) 465 274 52 11,024 — 11,815 Selling, general and administrative 278 73 412 9,100 5,948 15,811 Allocation of Corporate overhead — — 925 2,689 (3,614 ) — Provision for doubtful accounts 96 55 21 — — 172 Restructuring, transition and acquisition expenses, net — — — 1,418 345 1,763 Litigation and related expenses — — — 202 — 202 Depreciation and amortization of property and equipment 14,275 3,762 106 92 532 18,767 Amortization of intangible assets 23 — — 3,324 2 3,349 Total operating expenses 15,137 4,164 1,516 27,849 3,213 51,879 Income (loss) from operations 3,159 2,045 4,407 (11,699 ) (3,213 ) (5,301 ) The following employee and director stock-based compensation expense related to the Company’s stock-based awards is included in the above amounts as follows: Phase I Phase II Services Content & Entertainment Corporate Consolidated Direct operating — — — 6 — 6 Selling, general and administrative — — 10 129 880 1,019 Total stock-based compensation — — 10 135 880 1,025

NATURE OF OPERATIONS - NARRATIV

NATURE OF OPERATIONS - NARRATIVE (Details) titles in Thousands, theatre in Thousands	Sep. 30, 2015titlestheatre
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Titles and Episodes | titles	50
Number Of Movie Theatres	12

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - NARRATIVE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Mar. 31, 2015
Deferred Revenue Arrangement [Line Items]
Fair Value Inputs, Federal and State Tax Rate			40.00%
Deferred Revenue, Recongnition Period			10 years
Accumulated deficit	$ (333,746,000)		$ (333,746,000)			$ (300,350,000)
Goodwill, Impairment Loss	$ (18,000,000)	$ 0	(18,000,000)	$ 0
Activation Fee Revenue, Per Screen			$ 2,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0.35	$ 1.09	$ 0.52	$ 1.27
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			29,135,181	29,113,797
Notes Payable	$ 79,667,000		$ 79,667,000			$ 45,294,000
Cinedigm Equity Incentive Plan [Member]
Deferred Revenue Arrangement [Line Items]
Issuance of common stock in connection with the exercise of warrants and stock options (shares)	0	6,673	25,000	41,066
Content and Entertainment Segment [Member]
Deferred Revenue Arrangement [Line Items]
Fair Value Inputs, Discount Rate			17.00%
Goodwill, Impairment Loss	$ (18,000,000)		$ (18,000,000)
Services
Deferred Revenue Arrangement [Line Items]
Goodwill, Impairment Loss	0		0
Administrative Fee VPFs					5.00%
Incentive Fees, Percentage of VPF Phase I					2.50%
Up-front Payment Arrangement [Member]
Deferred Revenue Arrangement [Line Items]
Administrative Fee VPFs					10.00%
New Accounting Pronouncement, Early Adoption, Effect [Member] | Long-term Debt [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Finance Costs, Net	6,700,000		6,700,000
New Accounting Pronouncement, Early Adoption, Effect [Member] | Assets [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Finance Costs, Net	$ (6,700,000)		(6,700,000)
Minimum [Member]
Deferred Revenue Arrangement [Line Items]
Activation Fee Revenue, Per Screen			1,000
Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Activation Fee Revenue, Per Screen			$ 2,000

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - RESTRICTED CASH (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015
Restricted Cash and Investments [Abstract]
Reserve account related to the Term Loans	$ 8,983	$ 6,751
2013 Prospect Term Loan Agreement
Restricted Cash and Investments [Abstract]
Reserve account related to the Term Loans	$ 1,000	$ 1,000

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PROPERTY AND EQUIPMENT (Details)	6 Months Ended
	Sep. 30, 2015
Computer Equipment and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Computer Equipment and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	5 years
Digital Cinema Projection Systems [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	10 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	10 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	6 years

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015
Levels of fair value measurements of financial assets:
Restricted cash	$ 8,983	$ 6,751
Fair Value, Measurements, Recurring [Member]
Levels of fair value measurements of financial assets:
Restricted cash	8,983	6,751
Interest rate derivatives	172	208
Financial assets	9,155	6,959
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1
Levels of fair value measurements of financial assets:
Restricted cash	8,983	6,751
Interest rate derivatives	0	0
Financial assets	8,983	6,751
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2
Levels of fair value measurements of financial assets:
Restricted cash	0	0
Interest rate derivatives	172	208
Financial assets	172	208
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3
Levels of fair value measurements of financial assets:
Restricted cash	0	0
Interest rate derivatives	0	0
Financial assets	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - SCHEDULE OF GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Goodwill [Roll Forward]
As of March 31, 2015			$ 26,701
Goodwill impairment	$ (18,000)	$ 0	(18,000)	$ 0
As of September 30, 2015	8,701		8,701
Content and Entertainment Segment [Member]
Goodwill [Roll Forward]
As of March 31, 2015			26,701
Goodwill impairment	(18,000)		(18,000)
As of September 30, 2015	8,701		8,701
Goodwill	32,701		32,701
Accumulated impairment losses	$ (24,000)		$ (24,000)

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - EMPLOYEE STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0.35	$ 1.09	$ 0.52	$ 1.27
Total stock-based compensation	$ 401	$ 407	$ 1,073	$ 1,025
Direct operating
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	4	3	10	6
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 397	$ 404	$ 1,063	$ 1,019

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - FAIR VALUE ASSUMPTIONS USED FOR STOCK OPTIONS (Details)	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Assumptions for Option Grants:
Dividend yield	0.00%	0.00%	0.00%	0.00%
Expected life (years)	5 years	5 years	5 years	5 years
Range of expected volatilities, minimum	70.70%	71.40%	70.60%	71.40%
Range of expected volatilities, maximum	70.70%	71.50%	70.90%	72.30%
Minimum [Member]
Assumptions for Option Grants:
Range of risk free rates	1.50%	1.60%	1.40%	1.60%
Maximum [Member]
Assumptions for Option Grants:
Range of risk free rates	1.60%	1.80%	1.70%	1.80%

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($) $ in Thousands	Sep. 23, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
Loss on sale of discontinued operations	$ 3,045	$ 0	$ 3,045	$ 0	$ 3,045
Revenues			919		1,968
Costs and Expenses:
Direct operating			151		326
Selling, general and administrative			561		1,093
Research and development			5		14
Total operating expenses			717		1,433
Income from operations			202		535
Other expense, net			(8)		(93)
Income before provision for income taxes			194		442
Provision for income taxes			99		0
Income from discontinued operations, net of taxes		$ 0	$ 293	$ 0	$ 442

Other Interests (Details)

Other Interests (Details) - USD ($)	3 Months Ended			6 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Noncontrolling Interest [Line Items]
Accounts Receivable Service Equity Investment	$ 400,000			$ 400,000		$ 336,000
Management Fees Revenue	300,000		$ 300,000	600,000	$ 600,000
Stockholders' Equity Attributable to Noncontrolling Interest	(754,000)			(754,000)		(178,000)
Net Income (Loss) Attributable to Noncontrolling Interest	(741,000)		$ 0	(1,175,000)	$ 0
Holdings [Member]
Noncontrolling Interest [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage		100.00%
Equity Method Investment, Aggregate Cost	2,000,000			2,000,000
Holdings [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Noncontrolling Interest [Line Items]
Equity Method Investment Summarized Financial Information, Equity	9,700,000			9,700,000		6,700,000
Equity Method Investments	0			0		$ 0
CONtv [Member]
Noncontrolling Interest [Line Items]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 600,000			$ 600,000

NOTES PAYABLE - SCHEDULE OF NO

NOTES PAYABLE - SCHEDULE OF NOTES PAYABLE OUTSTANDING (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015	Feb. 28, 2013
Notes Payable:
Current portion	$ 30,840	$ 57,267
Long Term Portion	181,222	139,387
2013 Term Loans
Notes Payable:
Current portion	22,976	25,125
Long Term Portion	23,471	36,418
2013 Prospect Term Loan Agreement
Notes Payable:
Debt Instrument, Interest Rate, Stated Percentage			2.50%
Current portion	0	0
Long Term Portion	67,204	67,967
Non-recourse Notes Payable [Member]
Notes Payable:
Current portion gross	30,840	32,973
Unamortized debt issuance cost, current	0	0
Current portion	30,840	32,973
Long term portion gross	106,719	124,325
Unamortized debt issuance long term	(5,164)	(5,938)
Long Term Portion	101,555	118,387
Non-recourse Notes Payable [Member] | 2013 Term Loans
Notes Payable:
Current portion gross	22,976	25,125
Long term portion gross	23,471	36,418
Non-recourse Notes Payable [Member] | 2013 Prospect Term Loan Agreement
Notes Payable:
Current portion gross	0	0
Long term portion gross	67,204	67,967
Non-recourse Notes Payable [Member] | KBC Facilities
Notes Payable:
Current portion gross	7,646	7,649
Long term portion gross	15,541	19,361
Non-recourse Notes Payable [Member] | P2 Vendor Notes
Notes Payable:
Current portion gross	141	125
Long term portion gross	356	393
Non-recourse Notes Payable [Member] | P2 Exhibitor Notes
Notes Payable:
Current portion gross	77	74
Long term portion gross	147	186
Recourse Notes Payable [Member]
Notes Payable:
Current portion gross	0	24,294
Unamortized debt issuance cost, current	0	0
Current portion	0	24,294
Long term portion gross	83,059	21,750
Unamortized debt issuance long term	(3,392)	(750)
Long Term Portion	$ 79,667	$ 21,000
Recourse Notes Payable [Member] | 5.5% Senior Convertible Notes Due 2035
Notes Payable:
Debt Instrument, Interest Rate, Stated Percentage	5.50%	5.50%
Current portion gross	$ 0	$ 0
Long term portion gross	64,000	0
Recourse Notes Payable [Member] | Cinedigm Term Loans [Member]
Notes Payable:
Current portion gross	0	0
Long term portion gross	0	17,965
Recourse Notes Payable [Member] | Cinedigm Revolving loans
Notes Payable:
Current portion gross	0	24,294
Long term portion gross	15,127	0
Recourse Notes Payable [Member] | Notes 2013 Due 2018
Notes Payable:
Current portion gross	0	0
Long term portion gross	$ 3,932	$ 3,785

NOTES PAYABLE - NARRATIVE (Det

NOTES PAYABLE - NARRATIVE (Details)	Apr. 29, 2015USD ($)$ / sharesshares	Oct. 17, 2013USD ($)	Feb. 28, 2013USD ($)	Feb. 28, 2013USD ($)	Apr. 30, 2015USD ($)	Oct. 31, 2013USD ($)shares	Sep. 30, 2015USD ($)installments	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)installments	Sep. 30, 2014USD ($)	Mar. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Restricted cash							$ 8,983,000		$ 8,983,000		$ 6,751,000
Payments of Debt Issuance Costs									3,581,000	$ 0
Gains (Losses) on Extinguishment of Debt							0	$ 0	(931,000)	$ 0
Long Term Portion							181,222,000		181,222,000		139,387,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity							$ 53,523,000		$ 53,523,000
Line of Credit Facility, Principal Payment, Number of Quarterly Installments | installments							28		28
Recourse Notes Payable [Member]
Line of Credit Facility [Line Items]
Long Term Portion							$ 79,667,000		$ 79,667,000		21,000,000
Debt Service Payment for 2013 and 2010 Credit Agreements
Line of Credit Facility [Line Items]
Restricted Cash Debt Servicing							3,800,000		3,800,000		3,900,000
2013 Prospect Term Loan Agreement
Line of Credit Facility [Line Items]
Restricted Cash Debt Servicing							1,900,000		1,900,000		6,500,000
Restricted cash							1,000,000		1,000,000		1,000,000
2013 Term Loans [Member]
Line of Credit Facility [Line Items]
Restricted cash							5,800,000		$ 5,800,000		5,800,000
LIBOR
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate									0.33%
Eurodollar [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.00%
Federal Funds Effective Swap Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.50%
2013 Prospect Term Loan Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount			$ 70,000,000	$ 70,000,000			70,000,000		$ 70,000,000		70,000,000
Debt Instrument, Basis Spread on Variable Rate			9.00%
Debt Instrument, Interest Rate, Stated Percentage			2.50%	2.50%
Guarantor Obligations, Maximum Exposure, Annual Limit									1,500,000
Long Term Portion							67,204,000		67,204,000		67,967,000
2013 Prospect Term Loan Agreement | Debt Instrument, Prepayment Period - Between Second And Third Anniversary
Line of Credit Facility [Line Items]
Debt Instrument, Prepayment Premium			5.00%	5.00%
2013 Prospect Term Loan Agreement | Debt Instrument, Prepayment Period - Between Third and Fourth Anniversary
Line of Credit Facility [Line Items]
Debt Instrument, Prepayment Premium			4.00%	4.00%
2013 Prospect Term Loan Agreement | Debt Instrument, Prepayment Period - Between Fourth and Fifth Anniversary
Line of Credit Facility [Line Items]
Debt Instrument, Prepayment Premium			3.00%	3.00%
2013 Prospect Term Loan Agreement | Debt Instrument, Prepayment Period - Between Fifth and Sixth Anniversary
Line of Credit Facility [Line Items]
Debt Instrument, Prepayment Premium			2.00%	2.00%
2013 Prospect Term Loan Agreement | Debt Instrument, Prepayment Period - Between Sixth and Seventh Anniversary
Line of Credit Facility [Line Items]
Debt Instrument, Prepayment Premium			1.00%	1.00%
2013 Prospect Term Loan Agreement | LIBOR
Line of Credit Facility [Line Items]
Debt Instrument, Variable Rate Basis, Floor			2.00%	2.00%
Convertible Notes [Member] | Convertible Debt [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 64,000,000
Debt Instrument, Interest Rate, Stated Percentage	5.50%
Debt Instrument, Convertible, Conversion Ratio, Denominator	$ 1,000
Debt Instrument, Convertible, Conversion Ratio	0.8245723
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 1.21
Debt Instrument, Convertible, Repurchase Price, Percentage	100.00%
Debt Instrument, Redemption Price, Percentage	100.00%
Proceeds from Issuance of Unsecured Debt	$ 60,900,000
Treasury Stock, Shares, Acquired | shares	2,721,000
Treasury Stock, Value, Acquired, Cost Method	$ 2,700,000
Interest Expense, Debt							900,000		1,500,000
2013 Term Loans
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount			$ 130,000,000	$ 130,000,000			125,087,000		125,087,000		125,087,000
Debt Instrument, Decrease, Assigned			$ 5,000,000	$ 5,000,000
Long Term Portion							23,471,000		23,471,000		36,418,000
Debt Instrument, Unamortized Discount							$ 164,000		$ 164,000		$ 196,000
2013 Term Loans | LIBOR
Line of Credit Facility [Line Items]
Debt Instrument, Variable Rate Basis, Floor			1.00%	1.00%
Debt Instrument, Basis Spread on Variable Rate				2.75%
Debt Instrument, Variable Rate Basis, Percent							0.19%		0.19%
2013 Term Loans | Base Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate				1.75%
Cinedigm Credit Agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 55,000,000
Cinedigm Credit Agreement [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Repayments of Debt	18,600,000
Debt Instrument, Repurchased Face Amount	$ 18,200,000
Cinedigm Revolving loans | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 30,000,000
Cinedigm Revolving loans | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity							$ 17,500,000		$ 17,500,000
Line of Credit Facility, Minimum Liquidity					$ 5,000,000
Cinedigm Revolving loans | LIBOR | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate, Minimum					1.00%
Cinedigm Revolving loans | Base Rate [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		4.00%			3.00%
Debt Instrument, Basis Spread on Variable Rate, Minimum					1.00%
Cinedigm Revolving loans | Eurodollar [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		5.00%			4.00%
Cinedigm Term Loans [Member] | Term Loans [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 25,000,000
Cinedigm Term Loans [Member] | Base Rate [Member] | Term Loans [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		5.00%
Cinedigm Term Loans [Member] | Eurodollar [Member] | Term Loans [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		6.00%
Notes 2013 Due 2018 | Senior Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						9.00%
Debt Conversion, Original Debt, Amount						$ 5,000,000
Debt Instrument, Unamortized Discount						$ 1,600,000
2013 Warrants [Member] | Senior Notes [Member] | Class A common stock
Line of Credit Facility [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares						1,500,000
Forward Stock Purchase Transaction [Member] | Convertible Notes [Member] | Convertible Debt [Member]
Line of Credit Facility [Line Items]
Treasury Stock, Shares, Acquired | shares	11,791,384
Treasury Stock, Value, Acquired, Cost Method	$ 11,400,000
Debt Service Reserve [Member] | Cinedigm Revolving loans | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Restricted cash							$ 2,200,000		$ 2,200,000

NOTES PAYABLE - NET OF ORIGINA

NOTES PAYABLE - NET OF ORIGINAL ISSUE DISCOUNT (Details) - USD ($)	Sep. 30, 2015	Mar. 31, 2015	Feb. 28, 2013
Debt Instrument [Line Items]
Less current portion	$ (30,840,000)	$ (57,267,000)
Long Term Portion	181,222,000	139,387,000
2013 Term Loans, net of discount
Debt Instrument [Line Items]
Debt amount, at issuance	125,087,000	125,087,000	$ 130,000,000
Debt Instrument, Payments to Date	(78,476,000)	(63,348,000)
Discount on debt instrument	(164,000)	(196,000)
Notes payable, net	46,447,000	61,543,000
Less current portion	(22,976,000)	(25,125,000)
Long Term Portion	23,471,000	36,418,000
2013 Prospect Term Loan Agreement
Debt Instrument [Line Items]
Debt amount, at issuance	70,000,000	70,000,000	$ 70,000,000
PIK Interest Accrued	4,495,000	3,640,000
Debt Instrument, Payments to Date	(7,291,000)	(5,673,000)
Notes payable, net	67,204,000	67,967,000
Less current portion	0	0
Long Term Portion	$ 67,204,000	$ 67,967,000

NOTES PAYABLE - SUMMARY OF CRE

NOTES PAYABLE - SUMMARY OF CREDIT FACILITIES (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2015USD ($)installments	Mar. 31, 2015USD ($)
LIBOR
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate	0.33%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 53,523
Line of Credit Facility, Outstanding Principal Balance	$ 23,187	$ 27,010
Line of Credit Facility, Principal Payment, Number of Quarterly Installments | installments	28
Credit Facility 1 [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 22,336
Line of Credit Facility, Interest Rate	3.75%
Line of Credit Facility, Outstanding Principal Balance	$ 8,776	10,371
Credit Facility 2 [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 13,312
Line of Credit Facility, Interest Rate	3.75%
Line of Credit Facility, Outstanding Principal Balance	$ 5,705	6,656
Credit Facility 3 [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 11,425
Line of Credit Facility, Interest Rate	3.75%
Line of Credit Facility, Outstanding Principal Balance	$ 5,712	6,528
Credit Facility 4 [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 6,450
Line of Credit Facility, Interest Rate	3.75%
Line of Credit Facility, Outstanding Principal Balance	$ 2,994	$ 3,455

NOTES PAYABLE - FAIR VALUE ASS

NOTES PAYABLE - FAIR VALUE ASSUMPTIONS (Details) - Warrant [Member]	Oct. 23, 2013
Debt Instrument [Line Items]
Fair Value Assumptions, Risk Free Interest Rate	1.38%
Fair Value Assumptions, Expected Dividend Rate	0.00%
Fair Value Assumptions, Expected Term	5 years
Fair Value Assumptions, Expected Volatility Rate	76.25%

STOCKHOLDERS' EQUITY - COMMON

STOCKHOLDERS' EQUITY - COMMON STOCK (Details) - shares	6 Months Ended
	Sep. 30, 2015	Mar. 31, 2015
Class A common stock
Class of Stock [Line Items]
Shares issued as payment for services rendered	679,379
Common stock, shares authorized	210,000,000	210,000,000
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized	1,241,000	1,241,000

STOCKHOLDERS' EQUITY - PREFERR

STOCKHOLDERS' EQUITY - PREFERRED STOCK (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended	12 Months Ended
	Oct. 31, 2015	Sep. 30, 2015	Mar. 31, 2015
Class of Stock [Line Items]
Dividends, Preferred Stock		$ 89	$ 89
Subsequent Event [Member] | Class A common stock
Class of Stock [Line Items]
Preferred stock dividends (shares)	114,644

STOCKHOLDERS' EQUITY - TREASUR

STOCKHOLDERS' EQUITY - TREASURY STOCK (Details) - Convertible Debt [Member] - Convertible Notes [Member] $ in Millions	Apr. 29, 2015USD ($)shares
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired	2,721,000
Treasury Stock, Value, Acquired, Cost Method | $	$ 2.7
Forward Stock Purchase Transaction [Member]
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired	11,791,384
Treasury Stock, Value, Acquired, Cost Method | $	$ 11.4

STOCKHOLDERS' EQUITY - CINEDIG

STOCKHOLDERS' EQUITY - CINEDIGM'S EQUITY INCENTIVE PLAN (Details) - Cinedigm Equity Incentive Plan [Member] - $ / shares	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrange by Share-based Payment Award, Equity Incentive Plan, Percent Voting Power Threshold			10.00%
Share-based Compensation Arrange by Share-based Payment Award, Equity Incentive Plan, Exercise Price if Voting Threshold is Met, Percent			110.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term			6 years 9 months 11 days
Shares Under Option
Shares under option, beginning of period			5,908,670
Shares under option, granted			130,000
Shares under option, exercised	0	(6,673)	(25,000)	(41,066)
Shares under option, cancelled			(364,438)
Shares under option, end of period	5,649,232		5,649,232
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, beginning of period			$ 1.72
Weighted average exercise price per share, granted			1.51
Weighted average exercise price per share, exercised			0.89
Weighted average exercise price per share, cancelled			1.92
Weighted average exercise price per share, end of period	$ 1.69		$ 1.69
Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	14,300,000		14,300,000
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			25.00%

STOCKHOLDERS' EQUITY - OPTIONS

STOCKHOLDERS' EQUITY - OPTIONS GRANTED OUTSIDE CINEDIGM'S EQUITY INCENTIVE PLAN (Details)	1 Months Ended
	Oct. 31, 2013employee$ / sharesshares	Dec. 31, 2010$ / sharesshares	Sep. 30, 2015shares
Class A common stock | Chief Executive Officer [Member]
Class of Stock [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ / shares		$ 1.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ / shares		$ 5
Class A common stock | Chief Executive Officer [Member] | Stock option
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		4,500,000
Gaiam Americas, Inc. and Gaiam, Inc. (GVE) [Member]
Class of Stock [Line Items]
Number of Employees Joining Company Following Acquisition | employee	10
Shares under option, granted	620,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 1.75
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares			348,750
Gaiam Americas, Inc. and Gaiam, Inc. (GVE) [Member] | Stock option
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years

STOCKHOLDERS' EQUITY - WARRANT

STOCKHOLDERS' EQUITY - WARRANTS (Details) - $ / shares	6 Months Ended
	Sep. 30, 2015	Apr. 29, 2015	Apr. 28, 2015
Sageview Warrants
Class of Warrant or Right [Line Items]
Outstanding warrants	16,732,824
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.31	$ 1.31	$ 1.37
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		16,732,824	16,000,000
Strategic Management Service Provider Warrants
Class of Warrant or Right [Line Items]
Outstanding warrants	525,000
Class of Warrant or Right, Termination Notice	90 days
Warrants issued to creditors in connection with the 2013 Notes
Class of Warrant or Right [Line Items]
Outstanding warrants	1,250,625
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.85
Minimum [Member] | Strategic Management Service Provider Warrants
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	1.72
Maximum [Member] | Strategic Management Service Provider Warrants
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 3

COMMITMENTS AND CONTINGENCIES C

COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2015
Loss Contingencies [Line Items]
Litigation settlement recovery, net of expenses		$ (1,208)	$ (410)
Gaiam Litigation [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Mediation Period	2 days
Litigation settlement recovery, net of expenses			$ 2,300
Litigation Settlement, Arbitration Period			90 days

SUPPLEMENTAL CASH FLOW INFORM46

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Cash interest paid	$ 8,474	$ 6,571
Accrued dividends on preferred stock	178	89
Issuance of common stock for payment of preferred stock dividends	178	178
Deferred consideration recorded in connection with sale of business	$ 1,050	$ 0

SEGMENT INFORMATION - ASSETS an

SEGMENT INFORMATION - ASSETS and DEBT (Details)	6 Months Ended
	Sep. 30, 2015USD ($)segmentssystems	Mar. 31, 2015USD ($)
Segment Reporting, Asset Reconciling Item [Line Items]
Number of Reportable Segments | segments	4
Total intangible assets, net	$ 28,865,000	$ 31,784,000
Total goodwill	8,701,000	26,701,000
Assets from continuing operations	238,906,000	273,017,000
Notes payable, non-recourse	132,395,000	151,360,000
Current portion of notes payable	79,667,000	45,294,000
Capital leases	$ 5,193,000	5,495,000
Phase I
Segment Reporting, Asset Reconciling Item [Line Items]
Number of Systems Installed | systems	3,724
Phase I | Segment, Continuing Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	$ 233,000	252,000
Total goodwill	0	0
Assets from continuing operations	60,682,000	74,595,000
Notes payable, non-recourse	108,979,000	123,722,000
Current portion of notes payable	0	0
Capital leases	$ 0	0
Phase II
Segment Reporting, Asset Reconciling Item [Line Items]
Number of Systems Installed | systems	8,904
Phase II | Segment, Continuing Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	$ 0	0
Total goodwill	0	0
Assets from continuing operations	58,483,000	61,350,000
Notes payable, non-recourse	23,416,000	27,638,000
Current portion of notes payable	0	0
Capital leases	0	0
Services | Segment, Continuing Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	0	0
Total goodwill	0	0
Assets from continuing operations	1,597,000	1,084,000
Notes payable, non-recourse	0	0
Current portion of notes payable	0	0
Capital leases	0	0
Content and Entertainment Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total goodwill	8,701,000	26,701,000
Content and Entertainment Segment [Member] | Segment, Continuing Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	28,620,000	31,520,000
Total goodwill	8,701,000	26,701,000
Assets from continuing operations	99,916,000	122,610,000
Notes payable, non-recourse	0	0
Current portion of notes payable	0	0
Capital leases	86,000	84,000
Corporate | Segment, Continuing Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total intangible assets, net	12,000	12,000
Total goodwill	0	0
Assets from continuing operations	18,228,000	13,378,000
Notes payable, non-recourse	0	0
Current portion of notes payable	79,667,000	45,294,000
Capital leases	$ 5,107,000	$ 5,411,000

SEGMENT INFORMATION - RECONCILI

SEGMENT INFORMATION - RECONCILIATION OF OPERATING PROFIT (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated revenues	$ 27,704	$ 23,721	$ 50,532	$ 46,578
Direct operating (excludes depreciation and amortization shown below)	8,388	3,311	15,680	11,815
Selling, general and administrative	9,509	8,213	18,327	15,811
Allocation of Corporate overhead	0	0	0	0
Provision for doubtful accounts	0	78	339	172
Restructuring, transition and acquisition expenses, net	63	817	196	1,763
Litigation Settlement, Expense		91		202
Goodwill impairment	(18,000)	0	(18,000)	0
Litigation settlement recovery, net of expenses	(1,208)		(410)
Depreciation and amortization of property and equipment	9,427	9,391	18,784	18,767
Amortization of intangible assets	1,463	1,464	2,922	3,349
Total operating expenses	45,642	23,365	73,838	51,879
Income (loss) from operations	(17,938)	356	(23,306)	(5,301)
Phase I
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated revenues	9,721	8,812	17,863	18,296
Direct operating (excludes depreciation and amortization shown below)	333	221	558	465
Selling, general and administrative	85	183	338	278
Allocation of Corporate overhead	0	0	0	0
Provision for doubtful accounts	0	36	241	96
Restructuring, transition and acquisition expenses, net	0	0	0	0
Litigation Settlement, Expense		0		0
Goodwill impairment	0		0
Litigation settlement recovery, net of expenses	0		0
Depreciation and amortization of property and equipment	7,151	7,138	14,304	14,275
Amortization of intangible assets	11	12	19	23
Total operating expenses	7,580	7,590	15,460	15,137
Income (loss) from operations	2,141	1,222	2,403	3,159
Phase II
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated revenues	3,173	3,038	6,068	6,209
Direct operating (excludes depreciation and amortization shown below)	109	137	200	274
Selling, general and administrative	23	34	64	73
Allocation of Corporate overhead	0	0	0	0
Provision for doubtful accounts	0	34	98	55
Restructuring, transition and acquisition expenses, net	0	0	0	0
Litigation Settlement, Expense		0		0
Goodwill impairment	0		0
Litigation settlement recovery, net of expenses	0		0
Depreciation and amortization of property and equipment	1,881	1,881	3,762	3,762
Amortization of intangible assets	0	0	0	0
Total operating expenses	2,013	2,086	4,124	4,164
Income (loss) from operations	1,160	952	1,944	2,045
Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated revenues	3,109	2,863	5,802	5,923
Direct operating (excludes depreciation and amortization shown below)	3	1	7	52
Selling, general and administrative	225	212	435	412
Allocation of Corporate overhead	405	459	807	925
Provision for doubtful accounts	0	8	0	21
Restructuring, transition and acquisition expenses, net	0	0	0	0
Litigation Settlement, Expense		0		0
Goodwill impairment	0		0
Litigation settlement recovery, net of expenses	0		0
Depreciation and amortization of property and equipment	0	53	0	106
Amortization of intangible assets	0	0	0	0
Total operating expenses	633	733	1,249	1,516
Income (loss) from operations	2,476	2,130	4,553	4,407
Content and Entertainment Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated revenues	11,701	9,008	20,799	16,150
Direct operating (excludes depreciation and amortization shown below)	7,943	2,952	14,915	11,024
Selling, general and administrative	5,768	4,717	10,996	9,100
Allocation of Corporate overhead	1,354	1,336	2,701	2,689
Provision for doubtful accounts	0	0	0	0
Restructuring, transition and acquisition expenses, net	0	576	0	1,418
Litigation Settlement, Expense		91		202
Goodwill impairment	(18,000)		(18,000)
Litigation settlement recovery, net of expenses	(1,208)		(410)
Depreciation and amortization of property and equipment	111	51	151	92
Amortization of intangible assets	1,449	1,451	2,899	3,324
Total operating expenses	33,417	11,174	49,252	27,849
Income (loss) from operations	(21,716)	(2,166)	(28,453)	(11,699)
Corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated revenues	0	0	0	0
Direct operating (excludes depreciation and amortization shown below)	0	0	0	0
Selling, general and administrative	3,408	3,067	6,494	5,948
Allocation of Corporate overhead	(1,759)	(1,795)	(3,508)	(3,614)
Provision for doubtful accounts	0	0	0	0
Restructuring, transition and acquisition expenses, net	63	241	196	345
Litigation Settlement, Expense		0		0
Goodwill impairment	0		0
Litigation settlement recovery, net of expenses	0		0
Depreciation and amortization of property and equipment	284	268	567	532
Amortization of intangible assets	3	1	4	2
Total operating expenses	1,999	1,782	3,753	3,213
Income (loss) from operations	$ (1,999)	$ (1,782)	$ (3,753)	$ (3,213)

SEGMENT INFORMATION - EMPLOYEE

SEGMENT INFORMATION - EMPLOYEE STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	$ 401	$ 407	$ 1,073	$ 1,025
Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	4	3	10	6
Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	397	404	1,063	1,019
Phase I
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase I | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase I | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase II
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase II | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Phase II | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Services
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	4	6	8	10
Services | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	3	0	7	0
Services | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	1	6	1	10
Content and Entertainment Segment [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	69	68	139	135
Content and Entertainment Segment [Member] | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	1	3	3	6
Content and Entertainment Segment [Member] | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	68	65	136	129
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	328	333	926	880
Corporate | Direct operating
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	0	0	0	0
Corporate | Selling, general and administrative
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total stock-based compensation	$ 328	$ 333	$ 926	$ 880