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RLJ Entertainment Reports Financial Results for the Fourth Quarter and Twelve Months Ended December

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By Business Wirevia The Motley Fool

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RLJ Entertainment Reports Financial Results for the Fourth Quarter and Twelve Months Ended December 31, 2012

BETHESDA, Md.–(BUSINESS WIRE)– RLJ Entertainment Inc., (NAS: RLJE) , today reported results for the fourth quarter1 and pro forma financial information for the twelve months ended December 31, 2012. RLJ Entertainment is a leading creator, owner and distributor of media content across digital, broadcast and physical platforms, which leverages its branding expertise, access to content and direct to consumer skills to optimize the value of its programs for distinct audiences. RLJ Entertainment was formed in October 2012 through the business combination of RLJ Acquisition, Inc., Image Entertainment, Inc. and Acorn Media Group, Inc.

RLJ Entertainment is focused on driving growth through the development of interest-based lifestyle entertainment services for targeted audiences in niche genres including British drama and mystery, stand-up comedy, fitness, faith and urban by using new technologies to deliver that content to consumers.

Robert L. Johnson, Chairman of RLJ Entertainment stated, “During the year, we made substantial progress integrating two very compelling entertainment businesses and establishing a solid platform and distribution strategy to offer exciting new entertainment content to loyal and passionate audiences. We remain focused on optimizing the exploitation of content across all platforms with specific focus on subscription models tailored to distinct consumer interests.”

Miguel Penella, Chief Executive Officer of RLJ Entertainment, commented, “While our results in 2012 did not meet our expectations, they are not representative of what we believe is the future potential of the company. We are pleased with the progress we have made to capitalize on the financial and operational synergies associated with combining Acorn and Image. To date, we have realized $6.2 million in pro forma costs synergies and expect to achieve additional synergies in 2013.

“We have also worked diligently to maximize the value of our content across a variety of distribution platforms. We believe we have a very strong pipeline of releases scheduled for 2013, and our direct to consumer digital channel, Acorn TV saw a significant increase in subscribers over the course of the year. Acorn TV is a terrific blueprint for how we will develop and monetize additional niche channels, which we believe will be a strong growth engine for our business going forward.”


Fourth Quarter and Fiscal 2012 Results

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

RLJ Entertainment Announces Filing Extension for Annual Report on Form 10-K

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By Business Wirevia The Motley Fool

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RLJ Entertainment Announces Filing Extension for Annual Report on Form 10-K

BETHESDA, Md.–(BUSINESS WIRE)– RLJ Entertainment Inc. (NAS: RLJE) announced today that it has filed a Form 12b-25 with the Securities and Exchange Commission that allows the Company an extension to file its Annual Report on Form 10-K for the year ended December 31, 2012 for up to an additional 15 calendar days. The Company will also delay the release of its fourth quarter and full year 2012 earnings release.

The Company has filed the extension due to delays in completing the accounting treatment of certain non-operating items related to the business combination among the Company, RLJ Acquisition, Inc., Image Entertainment, Inc., and Acorn Media Group, Inc., which was consummated in October 2012, necessary for the preparation of the Company’s financial statements.

The Company expects to file the Form 10-K with the Securities and Exchange Commission and to distribute its earnings release on or before the expected deadline.

About RLJ Entertainment

RLJ Entertainment, Inc. (NAS: RLJE) is a premier independent licensee and distributor of entertainment content and programming in North America, the United Kingdom and australia with over 5,200 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (stand-up comedy, feature films), One Village (urban), Acacia (fitness), Slingshot (faith), Athena (educational), Criterion (art films) and Madacy (gift sets). These titles are distributed in multiple formats including DVD, Blu-Ray, digital download, digital streaming, broadcast television (including satellite and cable), theatrical and non-theatrical.

Via its majority-owned subsidiary Agatha Christie Limited, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has direct contacts and billing relationships with millions of consumers.

RLJE leverages its management experience to acquire, distribute, and monetize existing and original content for its many distribution channels, including its nascent branded digital subscription channels, and engages distinct audiences with programming that appeals directly to their unique viewing interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia brands, and owns the recently launched Acorn TV digital subscription service.

Forward Looking Statements
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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Image Entertainment Adds Bold Films' Thriller Evidence to Its 2013 Slate Starring Stephen Moyer and

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By Business Wirevia The Motley Fool

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Image Entertainment Adds Bold Films’ Thriller Evidence to Its 2013 Slate Starring Stephen Moyer and Radha Mitchell

AUSTIN, Texas–(BUSINESS WIRE)– Image Entertainment, Inc., a subsidiary of RLJ Entertainment (NAS: RLJE) , announced today the acquisition for all U.S. rights to Bold Films‘ new thriller Evidence. Directed by Olatunde Osunsanmi (The Fourth Kind), Evidence stars Stephen Moyer (“True Blood,” The Double) and Radha Mitchell (“Red Widow,” Silent Hill). All rights include theatrical, home entertainment, television and digital and the company is planning a theatrical release this summer. Today’s announcement was made at the SXSW festival by Bill Bromiley, Chief Acquisition Officer for Image Entertainment.

“Evidence is a unique, gripping and gritty thriller unlike others since it constructs the story from the perspectives of the victims,” commented Bromiley. “The film’s final twist along with both Stephen’s and Rahda’s performance will have audiences buzzing.”

In Evidence, two detectives (Moyer and Mitchell) attempt to piece together what happened at the scene of a brutal massacre using a number of recording devices found at the crime scene. The footage reveals a group of bus passengers who were forced to fight for their lives after they crash in the middle of the desert and a mysterious killer violently murders them one by one. The detectives use the scraps of video, shot by the victims, to hunt down the culprit. Dale Dickey (Super 8, Winter’s Bone), Torrey DeVitto (I’ll Always Know What You Did Last Summer), Caitlin Stasey (Tomorrow, When the War Began) and Harry Lennix (The Matrix Revolutions) co-star. Michel Litvak and David Lancaster produced for Bold Films, with Gary Michael Walters and Anthony Rhulen serving as Executive Producers. Marc Platt, Adam Siegel and Nik Mavinkurve produced on behalf of Marc Platt Productions. John Swetnam provided the screenplay.

“We were attracted to this project because it has all the elements that elevate the horror genre, delivering both a smart and scary theatrical experience for fans,” commented David Lancaster, co-President of Bold Films. “With Olatunde’s vision and top-notch talent like Radha and Stephen, we believe Evidence will have moviegoers on the edge of their seats. We are delighted to partner with Image to bring this film to the screen.”

The deal was negotiated by Bill Bromiley, Mark Ward and Michael Bayer on behalf of Image Entertainment with Miles Mogulescu and Alex Coffee on behalf of Bold Films.


About Bold Films
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Source: FULL ARTICLE at DailyFinance