Indie Distributor Millennium Entertainment Renamed Alchemy

The move comes after Bill Lee's company orchestrated a management buyout last year

Indie distributor Millennium Entertainment has a new name: Alchemy.

The move comes five month after CEO Bill Lee and and a group of investors, including Virgo Investment Group, orchestrated a management buyout from Avi Lerner's Nu Image/Millennium Films.

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"Our new brand name encapsulates our culture, our ambitious mission, and our dedication as a company to working with leading filmmakers and producers to create and deliver the finest content,” said Lee. “Alchemy is a seemingly magical process of creation and transformation through combination. The name embodies our goals of uniting storytellers and their audiences in one dynamic community. We believe that conventional distribution strategies must evolve to achieve this, and we aim to represent the future of screen-based storytelling — wherever that screen may be."

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In addition to theatrical, Millennium is a leading supplier of content to brick-and-mortar businesses, including Target, and to digital platforms. Its next release will be Al Pacino's The Humbling, which it acquired out of the 2014 Toronto Film Festival.