Alchemy (company)

Last updated
Alchemy
FormerlyMillennium Entertainment
Type Private
IndustryFilm, home entertainment, distribution
Predecessor First Look Studios
Founded2010
DefunctJune 30, 2016
Fate Chapter 7 bankruptcy
Successor FilmRise
Headquarters
Los Angeles, California
ProductsIndependent theatrical films, DVD, Blu-ray
Website www.millenniumentertainment.me   OOjs UI icon edit-ltr-progressive.svg

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]

Contents

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.

Millennium Entertainment logo Millennium Entertainment.png
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. [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]

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.

Releases

TV series

Animated

Films

Distributed lines

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References

  1. 1 2 "Millennium Entertainment Company Profile". Millennium Entertainment. Archived from the original on 19 May 2013. Retrieved 5 March 2013.
  2. 1 2 Millennium On The Block; Salem Partners To Handle Sale Of Distribution Unit. Deadline Hollywood (April 22, 2013).
  3. ↑ "Trust". Millennium Films. Archived from the original on June 24, 2016. Retrieved August 7, 2016.
  4. ↑ Ofgang, Kenneth. "Court Revives Suit Over Profits From Ving Rhames Movie". Metropolitan News-Enterprise. Retrieved 5 March 2013.
  5. ↑ "FIRST LOOK MEDIA INC (FIRST:OTC US): Stock Quote & Company Profile - Businessweek". Businessweek. Bloomberg. Archived from the original on April 10, 2013. Retrieved 5 March 2013.
  6. ↑ "First Look Studios Acquired by Millennium Entertainment". Blu-ray.com. Retrieved 5 March 2013.
  7. ↑ "Millennium Entertainment Picks a Name: Alchemy". 8 January 2015.
  8. ↑ The Wrap: "Alchemy Acquires ANconnect and Anderson Digital, Creates Alliance With ARC Entertainment" By Tim Kenneally July 13, 2015
  9. ↑ Hollywood Reporter: "Alchemy Acquires ANconnect, Anderson Digital and Signs Pact With ARC Entertainment" July 13, 2015
  10. ↑ Galuppo, Mia (December 7, 2015). "Bill Lee Abruptly Exits as Alchemy CEO". TheHollywoodReporter.com. Retrieved February 18, 2016.
  11. ↑ McNary, Dave (February 17, 2016). "Indie Distributor Alchemy Hit With 40 Layoffs". Variety.com. Retrieved February 18, 2016.
  12. ↑ 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.
  13. ↑ IndieWire: "How the DVD Business Is Destroying Alchemy" By Eric Kohn February 17, 2016
  14. ↑ McNary, Dave; Seetoodeh, Ramin (May 19, 2015). "Cannes: 'The Lobster' Selling to Alchemy (EXCLUSIVE)". Variety . Retrieved August 7, 2016.
  15. ↑ Fleming, Mike Jr.; Jaffar, Ali (November 12, 2015). "Alchemy Closes Deal For Ben Wheatley's White-Hot 'Free Fire' – AFM". Deadline Hollywood . Retrieved August 7, 2016.
  16. ↑ D'Alessandro, Anthony (May 19, 2015). "Alchemy Takes U.S. Rights To Nanni Moretti's 'Mia Madre' – Cannes". Deadline Hollywood . Retrieved August 7, 2016.
  17. ↑ Fleming, Mike Jr. (April 1, 2015). "Alchemy Acquires Rights To Rob Zombie-Directed '31'". Deadline . Retrieved March 15, 2022.
  18. ↑ Hipes, Patrick (August 13, 2015). "'Evolution', Toronto-Bound Horror Pic, Acquired By Alchemy; 'Somali Project' Docks At Vladar Co". Deadline. Retrieved March 15, 2022.
  19. ↑ Fleming, Mike Jr. (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. ↑ Hipes, Patrick; D'Alessandro, Anthony (March 24, 2016). "Rob Zombie's '31' Acquired By Saban Films For September Release". Yahoo! Finance. Retrieved March 15, 2022.
  23. ↑ Erbland, Kate (March 23, 2016). "IFC Midnight Picks Up Former Alchemy Feature 'Evolution'". IndieWire . Retrieved March 15, 2022.
  24. ↑ D'Alessandro, Anthony (April 1, 2019). "James Franco's Delayed 'Zeroville' Saved By myCinema; Distrib's Slate Includes Julian Fellowes' 'The Chaperone' – CinemaCon". Deadline. Retrieved March 15, 2022.
  25. ↑ "Alchemy Files For Chapter 7-Names Long List of Creditors". Deadline Hollywood. 7 July 2016.
  26. ↑ "Alchemy" . Retrieved August 7, 2016.
  27. ↑ McNary, Dave (July 7, 2016). "Alchemy Files for Chapter 7 Bankruptcy Protection". Variety . Retrieved August 7, 2016.
  28. ↑ "Millennium Entertainment TV Shows". DVD Empire.com. Right Ascension, Inc. Retrieved 5 March 2013.
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