Welcome!

News Feed Item

Virgo Investment Group Acquires Catalog Assets And Film Distribution Business Of Millennium Entertainment

Millenium Entertainment CEO Bill Lee and the current management team will continue to oversee operations.

REDWOOD SHORES, Calif., Aug. 21, 2014 /PRNewswire/ -- Virgo Investment Group ("Virgo") announced today that it has closed a partnership with management, led by CEO Bill Lee, to acquire the catalog assets and film distribution business of Millennium Entertainment (or the "Company").  Management and Virgo plan to grow the Company through investments in new content, expanding the distribution services business, and select acquisitions that complement the Company's core franchise. 

Founded in 2010 and led by co-founder and CEO Bill Lee since its inception, Millennium Entertainment is a leading independent distributor of feature films with high-quality casts.  Millennium has strong relationships with theatrical exhibitors including AMC, Regal and Landmark.  The Company also works directly with all major retailers, home entertainment and digital platforms that deliver films to consumers including Walmart, Target (where it represents 75% of all independent product), iTunes, and Netflix, as well as the VOD platforms of the major cable system operators.  Millennium has distributed over 300 feature films since its inception in November 2010.  Currently the Company is prepping the release of Matthew Weiner's (Mad Men) upcoming dramedy Are You Here starring Owen Wilson, Zach Galifianakis and Amy Poehler, and is handling the ancillary release of the documentary James Cameron's DEEPSEA CHALLENGE 3D. The Company recently handled the theatrical release of Persecuted, starring James Remar opening the film on 700+ screens; the release of Killing Season, starring Robert De Niro and John Travolta, which has generated $6 million on VOD platforms to date; and the traditional theatrical release of John Turturro's Fading Gigolo, co-starring Turturro, Woody Allen, Vanessa Paradis, Sharon Stone and Sofia Vergara.     

"We share Bill Lee's vision and are excited to partner with Bill and the Millennium management team," said Mark Perez, a Partner at Virgo.  Perez went on to say, "We believe the confluence of recent changes in the competitive landscape, expanding demand for new content and the on-going evolution of physical and digital consumption create an attractive market seam for developing an innovative distributor and financier of high quality media content.  Millennium's existing catalog of 665 film titles creates a solid foundation and base of cash flows for additional investments.  Furthermore, consistent with our other asset-based investments in the media sector, we believe there is a unique opportunity to combine industry relationships and data analysis to drive enhanced returns on invested capital through targeted marketing and differentiated monetization of content assets.  We would like to thank our operating partner network of media executives for their assistance in developing our thesis and due diligencing the transaction."

Bill Lee stated, "I'm proud of our team and thankful for our customers, clients, film production partners and bankers as we have grown the business over the last three and a half years.  This transaction creates new opportunities to further establish the company as a customer-centric curator of high-quality content.  I am pleased to invest my own capital alongside Virgo and am confident that Virgo's values, ideas and resources will enable us to fully realize our business aspirations."

About Virgo

Virgo is an opportunistic, value investor.  Virgo invests in market dislocations and areas of corporate change targeting both less efficient market segments and identified themes (or "market seams") in the firm's core industries.  A theme-based approach to idea generation coupled with proactive sourcing, a flexible mandate and creative transaction structuring skills, allows the firm to create differentiated opportunities and optimize risk-adjusted returns across market investment cycles.  Virgo is an actively engaged investor that seeks to contribute ideas and human capital to the harvesting of value post-investment and has a history of partnering with founder entrepreneurs, like Bill Lee, and family-owned companies to support their growth initiatives.

Founded in 2009, Virgo has committed and invested capital of $600 million and has completed 35 investments to date. 

SOURCE Virgo Investment Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear these words all day every day... lofty goals but how do we make it real? Add to that, that simply put, people don't like change. But what if we could implement and utilize these enterprise tools in a fast and "Non-Disruptive" way, enabling us to glean insights about our business, identify and reduce exposure, risk and liability, and secure business continuity?
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Digital transformation has increased the pace of business creating a productivity divide between the technology haves and have nots. Managing financial information on spreadsheets and piecing together insight from numerous disconnected systems is no longer an option. Rapid market changes and aggressive competition are motivating business leaders to reevaluate legacy technology investments in search of modern technologies to achieve greater agility, reduced costs and organizational efficiencies. ...
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
DXWorldEXPO LLC announced today that Telecom Reseller has been named "Media Sponsor" of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
"Calligo is a cloud service provider with data privacy at the heart of what we do. We are a typical Infrastructure as a Service cloud provider but it's been designed around data privacy," explained Julian Box, CEO and co-founder of Calligo, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Transformation Abstract Encryption and privacy in the cloud is a daunting yet essential task for both security practitioners and application developers, especially as applications continue moving to the cloud at an exponential rate. What are some best practices and processes for enterprises to follow that balance both security and ease of use requirements? What technologies are available to empower enterprises with code, data and key protection from cloud providers, system administrators, inside...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the tec...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
When applications are hosted on servers, they produce immense quantities of logging data. Quality engineers should verify that apps are producing log data that is existent, correct, consumable, and complete. Otherwise, apps in production are not easily monitored, have issues that are difficult to detect, and cannot be corrected quickly. Tom Chavez presents the four steps that quality engineers should include in every test plan for apps that produce log output or other machine data. Learn the ste...