Millennium Entertainment has made its first buy since the management take-over earlier this year led by Bill Lee and acquired the LA operations of Amplify in a move that demonstrates its digital ambitions.
Amplify’s Logan Mulvey will serve as Millennium svp of digital distribution, effective immediately.
Amplify’s Los Angeles-based employees will join Millennium Entertainment in various roles within marketing and digital distribution.
Amplify, financed by Preferred Ventures and digital media investor Chris Kelly, will continue to operate exclusively from New York as a theatrical and digital content distribution company under Dylan Marchetti. That company is expected to announce separate details of a restructure in the coming months.
Preferred Ventures managing partner Kevin Iwashina brokered the deal on behalf of Amplify with Millennium Entertainment CEO Lee (pictured).
“Acquiring Amplify’s Los Angeles operation allows us to further enhance our premiere digital service which will maximise digital opportunities for Millennium,” said Lee. “We’re excited to welcome Logan and his Los Angeles team to the family.”
“We appreciate Bill’s recognition of the LA team’s experience and his foresight in working with us to conclude this mutually beneficial transaction,” said Amplify chairman Ed Ojdana.
“Following our acquisition of Variance Films in March of this year, our goal has been to consolidate the digital and theatrical distribution operations of Amplify into New York.
“It was also important to us that those working in our LA office find an opportunity that would allow them to remain in LA.This transaction provided us the opportunity to accomplish this.”
Mulvey has served as CEO of Amplify for the past year, overseeing acquisitions, business development, sales, and overall strategy.
In August Lee and the management team of Millennium Entertainment, along with investor Virgo Investment Group, acquired the Millennium Entertainment catalogue assets and film distribution platform from a consortium of investors.
The company said in September it had closed $40m in financing and is expected to announce a name change in the coming months.