Alchemy (company)

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]

Alchemy
FormerlyMillennium Entertainment
TypePrivate
IndustryFilm, home entertainment, distribution
FateChapter 7 bankruptcy
PredecessorFirst Look Studios
Founded2010
DefunctJune 30, 2016
Headquarters
Los Angeles, California
ProductsIndependent theatrical films, DVD, Blu-ray

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

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] and Mia Madre.[16] Lobster and Fire both sold to A24, while Madre was sold to Music Box Films.[17][18][19]

Alchemy filed for Chapter 7 bankruptcy on June 30, 2016.[20] All employees were released following the bankruptcy.[21][22]

Releases

TV series

Animated

Films

Distributed lines

References
  1. "Millennium Entertainment Company Profile". Millennium Entertainment. Millennium Entertainment. Archived from the original on 19 May 2013. Retrieved 5 March 2013.
  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. Retrieved 5 March 2013.
  6. "First Look Studios Acquired by Millennium Entertainment". Blu-ray.com. Blu-ray.com. Retrieved 5 March 2013.
  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 Jr, Mike; 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 Jr, Mike (March 1, 2016). "A24 Postpones 'The Lobster' Theatrical Release – Update". Deadline Hollywood. Retrieved August 7, 2016.
  18. 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.
  19. D'Alessandro, Anthony (April 19, 2016). "Music Box Rescues Nanni Moretti's 'Mia Madre' From Alchemy". Deadline Hollywood. Retrieved August 7, 2016.
  20. "Alchemy Files For Chapter 7-Names Long List of Creditors". Deadline Hollywood.
  21. "Alchemy". Retrieved August 7, 2016.
  22. McNary, Dave (July 7, 2016). "Alchemy Files for Chapter 7 Bankruptcy Protection". Variety. Retrieved August 7, 2016.
  23. "Millennium Entertainment TV Shows". DVD Empire.com. Right Ascension, Inc. Retrieved 5 March 2013.
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