Screendaily broke the story in Cannes that Nigel Sinclair and Guy East’s ambitious company was circling Millennium Entertainment and the principals joined Nu Image founders Avi Lerner and Trevor Short on Tuesday (25) to announce they had acquired a minority stake.
The deal bolsters infrastructure at the fledgling Exclusive Releasing and means that select titles will go through Millennium’s home entertainment pipeline.
Millennium Entertainment CEO Bill Lee and his team will continue to manage and grow the business and work alongside Exclusive Releasing senior management.
Exclusive Media COO Marc Schipper (pictured next to separate picture of Sinclair) brokered the deal with Nu Image/Millennium’s Trevor Short. Evolution Media Capital introduced Exclusive Media to Millennium.
“We’ve known Nigel and Guy for many years,” Lerner and Short said in a press release. “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. “
“Acquiring a stake in Millennium is a key next step in building Exclusive Releasing,” Schipper said. “As we have gotten to know them, we have been very impressed by the professionalism and dedication that Bill Lee and his team display in managing their company. 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. “
“We are beyond proud and excited to be in business with Nigel, Guy, Marc and everyone at Exclusive Media,” Lee said. “This agreement will allow us continue to grow our company and gives us access to tremendous, high quality films for our home entertainment pipeline. This coupled with our thriving theatrical business, means that Millennium Entertainment will continue to be a significant player in the marketplace. We look forward to a very fruitful relationship.”