Exclusive Acquires Minority Stake in Millennium Entertainment's Distribution Unit
The deal gives Exclusive access to Millennium's home entertainment infrastructure.
Exclusive Media -- which is expanding into the U.S. distribution business -- has acquired a minority stake in Millennium Entertainment's distribution unit.
Under the terms of the deal, the newly launched Exclusive Releasing will put some of its titles through Millennium Entertainment's home entertainmment infrastructure.
The deal was announced by Exclusive Media co-chairmen Nigel Sinclair and Nu Image/Millennium founders Avi Lerner and Trevor Short.
Millennium Entertainment CEO Bill Lee and his team will work closely with Exclusive Releasing’s management group on selected Exclusive Media titles going through Millennium.
We’ve known Nigel and Guy for many years. Exclusive Media has excellent taste and is making some great films so we’re excited by this arrangement and look forward to Exclusive Media bringing further impetus to the next stage of Millennium Entertainment’s growth," Lerner and Short said.
Exclusive Media COO Marc Schipper added: “Acquiring a stake in Millennium is a key next step in building Exclusive Releasing. This new deal ensures that Exclusive Releasing is well positioned to take advantage of the shifts from physical to digital and from sell-thru to rental in the home entertainment market.
Both companies have heavy production slates and established distribution units in order to have the flexibility to release their own titles theatrically and in ancillary markets.
This past weekend, Exclusive Media enjoyed a key box office success with the $13.2 bow of End of Watch, which it fully financed and produced. Open Road Films released End of Watch on behalf of Exclusive, which only formed its distribution venture in recent days.