Formerly | Millennium Entertainment |
---|---|
Type | Private |
Industry | Film, home entertainment, distribution |
Predecessor | First Look Studios |
Founded | 2010 |
Defunct | June 30, 2016 |
Fate | Chapter 7 bankruptcy |
Successor | FilmRise |
Headquarters | |
Products | Independent theatrical films, DVD, Blu-ray |
Website | www |
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]
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]
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]
Alchemy filed for Chapter 7 bankruptcy on June 30, 2016. [25] All employees were released following the bankruptcy. [26] [27]
Alchemy's remaining film library is currently owned by FilmRise.
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