In a deal that was rumored (and denied) since Cannes, Exclusive Media has acquired a minority stake in Millennium Entertainment. It gives Exclusive a distribution apparatus to go along with its production capabilities. Here’s the release:
Los Angeles, CA (Sept 25, 2012) – Exclusive Media Co-Chairmen Nigel Sinclair and Guy East and Millennium Entertainment and Nu Image Founders Avi Lerner and Trevor Short today announced that Exclusive Media has acquired a minority stake in US distribution company Millennium Entertainment.
Under the terms of the deal, Exclusive Releasing, the newly launched US distribution company of Exclusive Media, will have access to Millennium’s home entertainment distribution systems to supplement Exclusive Releasing’s infrastructure.
Millennium Entertainment CEO Bill Lee and his team will continue to manage and grow the business, working closely with Exclusive Releasing’s management group on selected Exclusive Media titles going through Millennium.
The Exclusive Media/Millennium deal was negotiated by Exclusive Media’s COO Marc Schipper, and Nu Image/Millennium’s Trevor Short. Exclusive Media was introduced to Millennium by Evolution Media Capital.