Millennium On The Block; Salem Partners To Handle Sale Of Distribution Unit

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…)

This article was printed from https://deadline.com/2013/04/millennium-entertainment-on-the-block-salem-partners-to-handle-sale-480746/