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Alchemy (company) - Wikipedia

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(Redirected from Millennium Entertainment)

Alchemy

Formerly	Millennium Entertainment
Company type	Private
Industry	Film, home entertainment, distribution
Predecessor	First Look Studios
Founded	2010
Defunct	June 30, 2016
Fate	Chapter 7 bankruptcy liquidation
Successor	FilmRise
Headquarters	Los Angeles, California
Products	Independent theatrical films, DVD, Blu-ray
Website	www.millenniumentertainment.me

Alchemy (formerly Millennium Entertainment) was an American independent global film distributor based in Los Angeles, California. The company acquired and distributed feature films, television series and specialty programming.^[1]

History

Millennium Entertainment was 60% owned by production company Nu Image. Exclusive Media Group owned 20% and Prentice Capital owned the remaining stock.^[2] Following its formation in 2010, the company marked its first noteworthy theatrical release in 2011 with Trust, starring Academy Award nominees Clive Owen, Catherine Keener, and Viola Davis.^[3] Alchemy owns and operates^[1] a film library consisting of over 1,000 titles, including Paris, Je’TAime, Transsiberian, and Bad Lieutenant: Port of Call New Orleans, as well as the recent titles Elephant White, starring Djimon Hounsou and Kevin Bacon; Shadows and Lies, starring James Franco; and Blitz, starring Jason Statham.

Television series released by Alchemy include The Cosby Show, Baywatch, and A Different World. First Look Studios originally released all eight seasons of The Cosby Show, A Different World, and other shows on DVD, but they eventually filed bankruptcy in 2010.^[4]^[5] Millennium Entertainment acquired all of First Look Studios’ assets, and continued to release them in the United States, Canada, Bermuda, and other U.S. Territories.^[6] In April 2013, it was announced that Millennium Entertainment would be sold, and an investment company, Salem Partners, would assist in the sale.^[2] In August 2014 the company's library and distribution assets had been sold to a consortium consisting of its current management and Virgo Investment Group. The new owners renamed the company Alchemy in January 2015, finally cutting ties to its former sister company Millennium Films.^[7]

In July 2015 Alchemy acquired the film distribution assets of ANconnect and the digital film and television distributor Anderson Digital, both divisions of Anderson Media Corporation.^[8] The transaction will result in the addition of 40 new employees to the existent 70 and expand the company's catalogue to over 1,300 films and 3,000 TV episodes.^[9] In December 2015 Bill Lee exited the company as CEO.^[10]

Bankruptcy

In February 2016 Alchemy laid off 40 employees, equaling 40% of the company's entire staff.^[11]^[12] due to liquidity issues.^[13] The company began selling off previously acquired films including The Lobster,^[14] Free Fire,^[15] Mia Madre,^[16] 31^[17] and Evolution.^[18] The Lobster and Free Fire were purchased by A24, while Madre was sold to Music Box Films, 31 to Saban Films and Evolution to IFC Midnight.^[19]^[20]^[21]^[22]^[23] The last of their acquisitions, Zeroville, wasn't released until 2019.^[24]