Magazine article Screen International

Salem to Handle Millennium Sale

Magazine article Screen International

Salem to Handle Millennium Sale

Article excerpt

Millennium Entertainment's management team has retained Los Angeles-based investment bank and wealth management firm Salem Partners to sell the company.

The distributor has been up for sale for some time and is owned by a number of players. Nu Image owns a majority 60% stake, while Exclusive Media Group and Connecticut-based hedge fund Prentice Capital each own approximately 20%.

Exclusive Media Group acquired a stake last year in a move that bolstered its distribution capability by ensuring that select titles would go through Millennium's home entertainment pipeline.

It is understood the Millennium Entertainment management team intends to remain intact and will continue to operate the company and support new ownership in the event of a sale.

Millennium Entertainment CEO Bill Lee said his company had built "the most comprehensive distribution platform outside of the major studios" and looked forward to working with a new owner on the next phase. …

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