Security, an action spec from writer John Sullivan (Recoil) about a security guard who must protect a female witness from a gang of thugs in a mall after communication is knocked out from storm, has sold to Nu Image. The deal closed late last week and producers …
Millennium Entertainment, the distribution arm of Avi Lerner‘s Nu Image, is officially for sale, with investment bank Salem Partners brought in to shop a deal. Nu Image holds 60% of the company, while Nigel Sinclair and Guy East’s Exclusive Media has a 20% stake and hedge fund Prentice Capital has the other 20%. A sale has been in the cards for the past year as Sinclair and East considered buying the part of the company they don’t already own, but a deal did not come to fruition. With the sale now opened to other buyers, Deadline hears there’s been “a lot of activity.” Here’s the official press release:
Millennium Entertainment CEO Bill Lee announced today that Salem Partners, a leading Los Angeles-based investment bank and wealth management firm, has been retained to sell the company.
Millennium Entertainment enjoyed a record year in both revenue and earnings in 2012 propelled by one of 2012’s biggest indie successes, Richard Linklater’s comedy Bernie, which earned Jack Black a Golden Globe nomination.
Nu Image today filed a lawsuit against shuttered Overture Films for what could be millions in unpaid proceeds from a trio of films. The films noted in the complaint (read it here) are 2010′s Brooklyn’s Finest, the 2008 Robert De Niro and Al Pacino movie Righteous Kill and 2008′s Mad Money starring Diane Keaton and Queen Latifah. Nu Image says that they and Brooklyn’s Finest Distribution inked deals with Overture for exclusive distribution rights for the films “in the United States and its territories for 20 years.” Noting that all three seemed to make good money theatrically and in home entertainment, the complaint alleges Breach of contract, the Implied Covenant of Good Faith and Fair Dealing, Accounting and Declaratory Relief. Nu Image says that they have consistently received “sparse and oblique” participation statements from Overture and their then affiliate Starz Media. “Plaintiffs are informed and believe, and there on allege, that Defendant received or will receive monies, property or other benefits in connection exploitation of the Licensed Pictures, of which a percentage is due to Plaintiffs.
The producers of Cops are taking the producers and distributors of Brooklyn’s Finest and Leaves Of Grass to court over money they say they are owed from the films. In an 11-page complaint filed today, (read it here) Langley Films, who make the long running police series, say Avi Lerner’s Nu Image, as well as Leaves of Grass Productions Inc. and Brooklyn’s Finest Distribution Inc., failed to honor an agreement to pay the company “a portion of the revenues” from both the 2010 comedy and the 2009 crime drama. The three companies are cited as defendants with Lerner, Nu Image/Millennium Films’ Trevor Short and former Nu Image/Millennium foreign sales chief Danny Dimbort named as principals who “may have engaged in a scheme to defraud Langley Films.” Millennium/Nu Image are the producers of, among other films, the upcoming The Expendables 2, Lee Daniels’ The Paperboy and the White House thriller Olympus Has Fallen directed by Antoine Fuqua who helmed Brooklyn’s Finest.
Citing breach of contract and accounting, Langley says in 2008 it gave $3.65 million to pay some development and production costs on the Richard Gere and Don Cheadle-starring Brooklyn’s Finest and $1.5 million for the same for the Edward Norton and Susan Sarandon-starring Leaves of Glass. The complaint alleges that not only has it not received the promised revenue but also that the defendants partially reneged on an August 31, 2011 agreement to pay back the some of the money the Santa Monica-based independent producer had given them.
Less than two months before The Expendables 2 comes out, Sylvester Stallone today scored an action hero legal victory. Judge Jed Rakoff rejected Marcus Webb’s claims that The Expendables was his original idea and Sly stole it. Webb …
Los Angeles, CA – Roy Matalon has been named President of International Sales & Distribution for Nu Image, Inc. it was announced today (8/18) by principals Danny Dimbort, Avi Lerner and Trevor Short.
Matalon joins Nu Image after 14 years at New Regency Productions as Senior Vice President of Distribution