Exclusive Media has acquired a minority stake in Millennium Entertainment, Exclusive announced in conjunction with Millennium parent company Nu Image on Tuesday.
Exclusive recently announced the formation of its own U.S. distribution company, Exclusive Releasing. Under this new deal, Exclusive Releasing will use Millennium’s home entertainment distribution infrastructure to push out its growing list of titles.
“Acquiring a stake in Millennium is a key next step in building Exclusive Releasing. 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,” Marc Schipper (pictured left), COO of Exclusive Media, said in a statement. “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. “
The deal brings together two new but prominent players in the film community.
Guy East and Nigel Sinclair run Exclusive Media, founded in 2008 as a full-service studio with development, financing, production, marketing and distribution teams. Three different labels handle development and production – Hammer for genre films, Spitfire for documentaries and Exclusive for everything else.
Millenium Entertainment is even younger, founded in 2010 and led by Bill Lee. Owned by Nu Image/Millenium Films, it acquires and distributes film projects such as Lee Daniels’ upcoming “The Paperboy” and “Bernie.”
“We’ve known Nigel and Guy for many years,” Avi Lerner and Trevor Short, co-founders of Nu Image, said in a statement. “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.”