EXCLUSIVE: I am hearing that Luc Besson‘s EuropaCorp is the lead horse in the quest to acquire Millennium Entertainment, the distribution arm of Avi Lerner‘s Nu Image/Millennium Films empire that was put on the selling block last April. The division, which is run by Bill Lee, retained Los Angeles-based investment bank Salem Partners in April to broker a deal. Lerner owns 60% of the company, Nigel Sinclair and Guy East’s Exclusive Media has a 20% stake and the hedge fund Prentice Capital owns the other 20%. I’m told that there might be one or more other bidders in the mix, but it looks like the deal is EuroCorp’s for the taking and that they are close. Besides a distribution operation, Millennium owns a film library with 665 titles and, according to the company’s release announcing the sale last April, has strong relationships with big three theater chains AMC, Regal and Landmark as well as retails outlets like Walmart, Target, iTunes, and Netflix, and cable systems for its VOD-centric titles. Recent films on the release schedule include What Maisie Knew, the Michael Shannon-starrer The Iceman, the Shia LaBeouf-starrer Charlie Countryman, the James Franco-directed As I Lay Dying and the Woody Allen-starrer Fading Gigolo, directed by John Turturro.
- Arts & Entertainment