Millennium Entertainment, the distribution arm of Avi Lerner‘s Nu Image, is officially for sale, with investment bank Salem Partners brought in to shop a deal. Nu Image holds 60% of the company, while Nigel Sinclair and Guy East’s Exclusive Media has a 20% stake and hedge fund Prentice Capital has the other 20%. A sale has been in the cards for the past year as Sinclair and East considered buying the part of the company they don’t already own, but a deal did not come to fruition. With the sale now opened to other buyers, Deadline hears there’s been “a lot of activity.” Here’s the official press release:
Millennium Entertainment CEO Bill Lee announced today that Salem Partners, a leading Los Angeles-based investment bank and wealth management firm, has been retained to sell the company.
Millennium Entertainment enjoyed a record year in both revenue and earnings in 2012 propelled by one of 2012’s biggest indie successes, Richard Linklater’s comedy Bernie, which earned Jack Black a Golden Globe nomination. (more…)