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Alchemy (company)

From Wikipedia, the free encyclopedia

Alchemy
Private
IndustryFilm, home entertainment, distribution
FateChapter 7 Bankruptcy
Predecessor
Founded2010 (as Millennium Entertainment)
DefunctJune 30, 2016
HeadquartersLos Angeles, California
ProductsIndependent theatrical films, DVD, Blu-ray

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] Its former staff includes marketing and distribution specialist Brooke Ford[2][3] and Andy Gruenberg.[3]

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Transcription

Contents

History

Millennium Entertainment was 60% owned by production company Nu Image. Exclusive Media Group owned 20% and Prentice Capital owned the remaining stock.[4] 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.[5] 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.

Millennium Entertainment logo
Millennium Entertainment logo

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.[6][7] 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.[8] In April 2013, it was announced that Millennium Entertainment would be sold, and an investment company, Salem Partners, would assist in the sale.[4] 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.[9]

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.[10] 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.[11] In December 2015 Bill Lee exited the company as CEO.[12]

Bankruptcy

In February 2016 Alchemy laid off 40 employees, equaling 40% of the company's entire staff.[13][14] due to liquidity issues.[15] The company began selling off previously acquired films including The Lobster,[16] Free Fire,[17] and Mia Madre.[18] Lobster and Fire both sold to A24, while Madre was sold to Music Box Films.[19][20][21] Alchemy filed for Chapter 7 Bankruptcy on June 30, 2016.[22] All employees were released following the bankruptcy.[23][24]

Releases

TV series

Animated

Films

Distributed lines

References

  1. ^ a b "Millennium Entertainment Company Profile". Millennium Entertainment. Millennium Entertainment. Retrieved 5 March 2013.
  2. ^ Ford, Brooke. "Brook Ford | LinkedIn". LinkedIn. LinkedIn. Retrieved 5 March 2013.
  3. ^ a b "Millennium Entertainment - Production Company | Backstage". Backstage. Backstage. Retrieved 5 March 2013.
  4. ^ a b Millennium On The Block; Salem Partners To Handle Sale Of Distribution Unit. Deadline Hollywood (April 22, 2013).
  5. ^ "Trust". Millennium Films. Retrieved August 7, 2016.
  6. ^ Ofgang, Kenneth. "Court Revives Suit Over Profits From Ving Rhames Movie". Metropolitan News-Enterprise. Retrieved 5 March 2013.
  7. ^ "FIRST LOOK MEDIA INC (FIRST:OTC US): Stock Quote & Company Profile - Businessweek". Businessweek. Bloomberg. Retrieved 5 March 2013.
  8. ^ "First Look Studios Acquired by Millennium Entertainment". Blu-ray.com. Blu-ray.com. Retrieved 5 March 2013.
  9. ^ [1]
  10. ^ The Wrap: "Alchemy Acquires ANconnect and Anderson Digital, Creates Alliance With ARC Entertainment" By Tim Kenneally July 13, 2015
  11. ^ Hollywood Reporter: "Alchemy Acquires ANconnect, Anderson Digital and Signs Pact With ARC Entertainment" July 13, 2015
  12. ^ Galuppo, Mia (December 7, 2015). "Bill Lee Abruptly Exits as Alchemy CEO". TheHollywoodReporter.com. Retrieved February 18, 2016.
  13. ^ McNary, Dave (February 17, 2016). "Indie Distributor Alchemy Hit With 40 Layoffs". Variety.com. Retrieved February 18, 2016.
  14. ^ Brooks, Brian; D'Alessandro, Anthony (February 16, 2016). "Alchemy Faces Financial Woes, Slashes Staff & Uncovers "Discrepancies Within Parts Of Its Businesses"". Deadline Hollywood. Retrieved February 18, 2016.
  15. ^ IndieWire: "How the DVD Business Is Destroying Alchemy" By Eric Kohn February 17, 2016
  16. ^ McNary, Dave; Seetoodeh, Ramin (May 19, 2015). "Cannes: 'The Lobster' Selling to Alchemy (EXCLUSIVE)". Variety. Retrieved August 7, 2016.
  17. ^ Fleming Jr, Mike; Jaffar, Ali (November 12, 2015). "Alchemy Closes Deal For Ben Wheatley's White-Hot 'Free Fire' – AFM". Deadline Hollywood. Retrieved August 7, 2016.
  18. ^ D'Alessandro, Anthony (May 19, 2015). "Alchemy Takes U.S. Rights To Nanni Moretti's 'Mia Madre' – Cannes". Deadline Hollywood. Retrieved August 7, 2016.
  19. ^ Fleming Jr, Mike (March 1, 2016). "A24 Postpones 'The Lobster' Theatrical Release – Update". Deadline Hollywood. Retrieved August 7, 2016.
  20. ^ D'Alessandro, Anthony (March 10, 2016). "A24 Scoops Up Brie Larson Action Thriller 'Free Fire' In Wake Of Alchemy Financial Turmoil". Deadline Hollywood. Retrieved August 7, 2016.
  21. ^ D'Alessandro, Anthony (April 19, 2016). "Music Box Rescues Nanni Moretti's 'Mia Madre' From Alchemy". Deadline Hollywood. Retrieved August 7, 2016.
  22. ^ "Alchemy Files For Chapter 7-Names Long List of Creditors". Deadline Hollywood.
  23. ^ "Alchemy". Retrieved August 7, 2016.
  24. ^ McNary, Dave (July 7, 2016). "Alchemy Files for Chapter 7 Bankruptcy Protection". Variety. Retrieved August 7, 2016.
  25. ^ "Millennium Entertainment TV Shows". DVD Empire.com. Right Ascension, Inc. Retrieved 5 March 2013.

External links

This page was last edited on 4 February 2019, at 17:21
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