Los Angeles (February 14, 2012) – Millennium Entertainment has closed a revolving line of credit funded by Pacific Mercantile Bank, it was announced today by Millennium Entertainment CEO Bill Lee. The credit line will be used to fund future acquisitions and P&A for the Millennium Entertainment.
“This deal with Pacific Mercantile will truly allow us to take the company to the next level,” stated Lee. “We look forward to bolstering our operations as we continue to grow as a company supported by this new line of credit.”
“We are pleased to have the opportunity to become a financial partner for Millennium Entertainment and look forward to assisting them in meeting their corporate objectives,” said Art Stribley, EVP Entertainment Industries Division, Pacific Mercantile Bank.
The deal was negotiated on behalf of Millennium Entertainment by Piero G. Broccardo, SVP Finance and for Pacific Mercantile Bank by Art Stribley, EVP Entertainment Industries Division and Sandy McKerroll, VP Entertainment Industries Division.
Led by CEO Bill Lee, Millennium Entertainment is a leading independent supplier that acquires and distributes feature films. Formed in 2010 and bolstered by a seasoned staff which includes marketing and distribution veterans Brooke Ford and Andy Gruenberg, to date the company has released director David Schwimmer’s Trust, starring Academy Award® nominees Clive Owen, Catherine Keener and Viola Davis; Puncture, starring Chris Evans and Joel Schumacher’s thriller Trespass, starring Academy Award® winners Nicolas Cage and Nicole Kidman. The company most recently released Oren Moverman’s Rampart on February 10th. Co-written by Moverman and acclaimed crime fiction writer James Ellroy, Rampart stars Woody Harrelson, Ben Foster, Robin Wright, Sigourney Weaver, Steve Buscemi, Anne Heche, Cynthia Nixon, Ice Cube, Brie Larson, and Ned Beatty. In 2012 ME will distribute Juan Carlos Fresnadillo’s (28 Weeks Later, the upcoming Highlander) haunting thriller Intruders starring Clive Owen and Carice Van Houten from a screenplay by Nicolás Casariego and Jaime Marques; Richard Linklater’s Bernie, co-written by Skip Hollandsworth and Linklater, starring Jack Black, Shirley MacLaine and Matthew McConaughey; the romantic drama A Little Bit of Heaven starring Kate Hudson and Little Birds, starring Juno Temple and Kay Panabaker, with Leslie Mann and Kate Bosworth.