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Public-listed China-based Recon Holding has reportedly acquired the majority interest in the independent film staple, Millennium Films according to a new press announcement. News of the deal in its development began circulating as early as last week.
The terms of the deal confirm that Recon Holding's 51% acquisition majority ownership stake in Millennium Films for $100 million (RMB 688 million) and its 300-film library with the option to acquire the remaining 49% thereafter. Avi Lerner and Trevor Short, who founded Millenium as a subsidiary of Nu Image in 1996, are remaining on board as Chief Executive Officer and Millennium Films and Chief Operating Officer, respectively, while Recon Chairman Dr. Tony Xia will serve as Chairman of Millennium Films.
The company is best known for its franchise properties including Rambo as well as The Expendables which is on deck to shoot a fourth installment this year, and the Gerard Butler led 'Fallen franchise which will continue with Angel Has Fallen. Millenium has accumulated 1.2 billion dollars at the worldwide box office since 2011, and has a slate that extends more with titles, The Hitman’s Bodyguard, starring Ryan Reynolds and Samuel L, Jackson, the Javier Bardem and Penelope Cruz-led Escobar and Butler's forthcoming novel adaptation, Hunter Killer with Gary Oldman.
“We are excited about our new partnership with Recon Holding led by Tony” said Messers. Lerner and Short. “China is emerging as the world’s largest market for premium filmed entertainment, and we see enormous value in placing the Chinese market at the forefront of our global strategy. Our films have experienced considerable success in China and in other markets around the world, and we feel there is significant value in partnering with an astute, experienced, and well-connected partner to help us execute our long-term strategy of making commercial movies for the global market place.”
“Since Avi and his partners founded the company, the Millennium Films organization has created a dynamic film brand and a deep library of intellectual property that resonates with audiences on a global scale,” said Tony Xia, Chairman of Recon Group and Aston Villa Football Club. “We believe Millennium’s unparalleled portfolio of motion picture franchises and intellectual property provides significant opportunities for long-term growth as the company continues to maximize the value of its creative properties across multiple platforms and in multiple territories. This is an incredible opportunity for us to build upon Millennium’s premium brand by accessing a film market in China that continues to experience a period of unprecedented growth.”
The transaction is expected to close during Q2 of 2017, subject to the satisfaction of customary closing conditions.
Millennium Films was advised by The Raine Group and Latham & Watkins LLP. Amir Malin of Qualia Capital also provided advice and counsel. Recon Holding was advised by China International Capital Corporation and Skadden, Arps, Slate, Meagher & Flom LLP.
Having extensively covered Universal Pictures's famed Fast franchise, this week's latest bit of coverage has to be the closest I've come. It's primarily attributed to the forthcoming live show which kicks off in London in January and obviously with a film saga so action packed, of course it's going to need a crew of some very talented stunt performers to take to task the very feats attendees can expect.
For this, it is with great pleasure to have been able to share an auspicious chat with Adam Brashaw, someone whose work thusfar in stunts, film and television have been all but impressive. He's only appeared in The Hit List a few times having done three shortfilms (two of which I have seen), and you need only to see the results for yourself apart from his exceptional work reel just above.
Brashaw is going nine years strong in his field with multiple credits to his name, including at least one upcoming film project which he discusses a bit about later in this in…
Among many of the film, TV and independent projects I've followed up on, one stood out as something worth following in its early days as I had known of the folks working on its action for its director, Charlie Dennis. Fast forward three Winters later and we were introduced to the world of gritty martial arts short, Deep Pan Fury, with UK actor Andrew Koji, whose extensive TV and film acting and stunt credits include 2007 Muay Thai flick, Fighting Beat, Justin Lin's Furious 6 and as the voice of Hien in Final Fantasy XIV: Stormblood.
Conclusively, I couldn't be more proud of Koji this week, and that brings us to the longstanding developments of Cinemax's upcoming ten-episode martial arts drama, Warrior which is set to go before cameras in South Africa on October 22. Netflix series Fauda helmer Assaf Bernstein is directing from a script by Banshee creator Jonathan Tropper, in turn inspired by the unproduced work of late martial artist multihyphenate, entertainer and fil…
I still plan on catching Magnet's U.S. release of Miike Takashi's hit manga adaptation, Blade Of The Immortal next month. Folks in the U.K. still have a bit of a wait though and in all likelihood it won't stall any excitement that has already been drawn from the rave press reviews in the last six months, including this month at Sitges. Manji, a highly skilled samurai, becomes cursed with immortality after a legendary battle. Haunted by the brutal murder of his sister, Manji knows that only fighting evil will regain his soul. He promises to help a young girl named Rin avenge her parents, who were killed by a group of master swordsmen led by ruthless warrior Anotsu. The mission will change Manji in ways he could never imagine...
Arrow Films is releasing the film theatrically on December 8. The trailer looks something a bit similar from the international pitch from months earlier but still delivers the desired effect. Enjoy, and set the date!