First Look Studios

First Look Studios was an American independent entertainment company headquartered in Los Angeles. Its business centered on acquiring independently produced feature films and television programs, arranging theatrical and home-video distribution, licensing rights internationally, and building a large library of genre, art-house, and commercial titles. The company ultimately operated across several connected areas, including domestic theatrical distribution, DVD and Blu-ray releases, international film sales, television syndication, and selected Internet and commercial-content activities. The business began in 1980 as Overseas Filmgroup, founded by Robert and Ellen Little as a sales company focused on placing films in foreign markets. During the 1980s it expanded into film financing and developed a policy of using distribution advances to acquire projects while avoiding the full risks of becoming a conventional production studio. Overseas Filmgroup became one of the more prominent independent international sales companies of its era, competing with other specialist distributors and sales agents. Its activities included arrangements for domestic theatrical, home-video, and television distribution, often in cooperation with larger distributors. The company’s catalog eventually combined commercially oriented genre films with critically recognized and art-house cinema. Titles associated with its distribution activities included The Secret of Roan Inish, Waking Ned Devine, Mrs. Dalloway, Antonia’s Line, Titus, Monster, Bad Lieutenant: Port of Call New Orleans, Transsiberian, and a broad range of lower-budget horror, action, thriller, comedy, and family releases. In 1993, the company broadened its North American presence through the First Look Pictures subsidiary. In 1996, Entertainment/Media Acquisition Corporation acquired Overseas Filmgroup. The resulting public company traded on the over-the-counter market. EUE/Screen Gems later acquired a minority interest. In January 2001, the business was renamed First Look Media as part of a restructuring intended to reflect its expansion into domestic distribution, home video, Internet content development, and television commercial production. The Overseas Filmgroup name was retained for international distribution activities before later becoming First Look International. The company was not connected with the separately established news organization that also used the First Look Media name. A major change came in 2005, when the company merged with Capital Entertainment, a business associated with Canadian entrepreneur Henry Winterstern. The company adopted the First Look Studios name later that year, with Winterstern becoming chief executive and sharing the chairmanship with Chris Cooney of EUE/Screen Gems. First Look also acquired DEJ Productions from Blockbuster in 2005, strengthening its library and domestic distribution position. In 2006 it acquired Ventura Distribution and its UrbanWorks Entertainment subsidiary and obtained domestic television syndication rights to a group of films from Pinnacle Entertainment. That year it launched First Look Television and reported a film library of approximately 700 titles. Nu Image acquired a controlling interest in 2007. The transaction connected First Look’s distribution infrastructure with Nu Image and Millennium Films, providing those companies with an outlet for theatrical and home-video releases. First Look began issuing titles on Blu-ray in 2008 as the high-definition home-video format gained wider market acceptance. The company’s expansion was not sustained. In November 2010, First Look Studios entered bankruptcy through an assignment for the benefit of its senior secured creditors. Millennium Entertainment, a newly formed sister company associated with Nu Image, acquired most of the company’s assets and inherited parts of its management and staff. First Look Studios therefore ceased operating as an independent distributor, although portions of its catalog and distribution relationships continued under successor companies.

First Look Studios grew out of Overseas Filmgroup, a foreign-sales company established in 1980 by Robert and Ellen Little. The original business specialized in selling independently produced films to international buyers. It later moved into film financing and acquisition, using distribution advances to secure projects and obtain greater control over their commercial exploitation without adopting the cost structure of a traditional production studio. During the 1980s, Overseas Filmgroup expanded its operating relationships across several regions and developed domestic theatrical, home-video, and television sales activity. Its catalog covered both genre entertainment and prestige-oriented independent cinema. The company became known for handling international rights and for working with outside distributors rather than relying on a single vertically integrated release system. In 1993, it added a North American distribution presence through First Look Pictures. Entertainment/Media Acquisition Corporation acquired Overseas Filmgroup in October 1996, and the combined business became publicly traded on the OTC market. EUE/Screen Gems later took a minority interest. In 2001, a restructuring renamed the company First Look Media, reflecting activities beyond international sales, including domestic film and home-video distribution, Internet content development, and television commercial production. Overseas Filmgroup remained the international division and was later renamed First Look International. Robert and Ellen Little left the company in 2003. The next transformation followed a 2005 merger with Capital Entertainment. The company adopted the First Look Studios name in September of that year. Henry Winterstern became chief executive, while Chris Cooney of EUE/Screen Gems shared the chairmanship. First Look expanded through acquisitions, buying DEJ Productions from Blockbuster in November 2005 and Ventura Distribution, including UrbanWorks Entertainment, in March 2006. It also acquired domestic television syndication rights to 56 films from Pinnacle Entertainment and launched First Look Television. By 2006, its library was described as containing about 700 films. Winterstern resigned in March 2007 but remained an adviser. In the same month, Nu Image purchased a 52 percent interest in First Look. The investment gave Nu Image and Millennium Films a distribution outlet for theatrical and home-video content while giving First Look access to a larger production and financing group. First Look added Blu-ray releases in January 2008 as the format became an important replacement for standard DVD in the premium home-video market. Financial and operating pressures eventually led to the company’s collapse as an independent business. In November 2010, First Look Studios filed for bankruptcy through an assignment benefiting its senior secured creditors. Millennium Entertainment, formed as a sister company by Nu Image, acquired most of the assets and took on portions of the former organization’s management and staff. The First Look Studios corporate operation is consequently defunct, although films and rights once handled by it continued to circulate through successor distributors and catalog owners.

• 2010

  Bankruptcy and asset transfer

  [1]First Look Studiosen.wikipedia.org

  First Look Studios enters bankruptcy proceedings, after which Millennium Entertainment acquires most of its assets.

• 2008

  Blu-ray distribution begins

  [1]First Look Studiosen.wikipedia.org

  First Look starts releasing selected titles on Blu-ray.

• 2007

  Nu Image takes a controlling stake

  [1]First Look Studiosen.wikipedia.org

  Nu Image acquires 52 percent of First Look Studios and connects it with Millennium Films’ production and distribution operations.

• 2006

  Ventura acquisition and television division launch

  [1]First Look Studiosen.wikipedia.org

  First Look acquires Ventura Distribution and launches First Look Television after expanding its syndication rights portfolio.

• 2005

  Capital Entertainment merger and First Look Studios rebrand

  [1]First Look Studiosen.wikipedia.org

  The company merges with Capital Entertainment and later adopts the First Look Studios name.

• 2001

  Company is renamed First Look Media

  [1]First Look Studiosen.wikipedia.org

  A restructuring broadens the company’s identity beyond international sales to include domestic distribution, home video, Internet content, and television commercial activities.

• 1996

  Overseas Filmgroup is acquired and becomes public

  [1]First Look Studiosen.wikipedia.org

  Entertainment/Media Acquisition Corporation acquires Overseas Filmgroup, and the resulting company trades on the OTC market.

• 1993

  North American distribution expands

  [1]First Look Studiosen.wikipedia.org

  The company expands into North American distribution through its First Look Pictures subsidiary.

• 1980

  Overseas Filmgroup is founded

  [1]First Look Studiosen.wikipedia.org

  Robert and Ellen Little establish Overseas Filmgroup as a company selling independently produced films in foreign markets.

An independent distributor and rights-management company focused on acquiring and monetizing films and television content outside the major-studio system, with a catalog spanning art-house cinema, genre entertainment, and commercial independent releases.

• Film distribution · 1993

  Independent feature-film distribution

  The company acquired or represented independently produced feature films for theatrical, home-video, and international release. Its catalog ranged from art-house and prestige-oriented pictures to action, horror, thriller, comedy, family, and exploitation-oriented titles. First Look frequently worked as a distributor or co-distributor rather than as the sole producer, allowing it to assemble a broad slate from outside production companies.

• Home entertainment

  Home-video distribution

  Home entertainment was one of First Look’s principal commercial activities. The company released independently produced films on physical media and enlarged its library through acquisitions such as DEJ Productions and Ventura Distribution. Its output initially centered on DVD and later included Blu-ray, giving licensors a route to North American retail and rental markets.

• International licensing · 1980

  International film sales

  Inherited from Overseas Filmgroup, the international sales business licensed film and television rights to overseas buyers. The division operated under the Overseas Filmgroup name during part of the company’s history and was later known as First Look International. This activity connected independent producers with regional distributors and broadcasters around the world.

• Television syndication · 2006

  First Look Television

  First Look Television was launched as a television syndication division in 2006. It handled television distribution opportunities for the company’s film library and related rights, including rights obtained in the Pinnacle Entertainment transaction. The division formed part of First Look’s strategy to monetize content across more than one release window.

• Film catalog

  Selected film catalog

  Notable films associated with First Look’s distribution activities included The Secret of Roan Inish, Mrs. Dalloway, Antonia’s Line, Titus, Monster, A Guide to Recognizing Your Saints, King of California, Transsiberian, Bad Lieutenant: Port of Call New Orleans, War, Inc., and Aqua Teen Hunger Force Colon Movie Film for Theaters. The catalog also contained numerous genre and direct-to-video releases.

• 2010

  Assign assets for the benefit of senior secured creditorsOther

  Background

  The company faced financial and operational difficulties after years of expansion and ownership changes.

  Action taken

  First Look Studios filed for bankruptcy through an assignment for the benefit of its senior secured creditors.

  Aftermath

  Millennium Entertainment acquired most of the assets and inherited parts of the former management and staff, ending First Look Studios’ independent operation.

  Source

• 2008

  Begin Blu-ray releasesProduct launch

  Background

  Blu-ray was becoming a major high-definition home-video format.

  Action taken

  First Look Studios began releasing titles on Blu-ray.

  Aftermath

  The company extended its physical-media distribution business into the newer high-definition format.

  Source

• 2007

  Nu Image acquires a controlling interestM&A

  Background

  Nu Image and Millennium Films required broader release infrastructure for their productions, while First Look needed additional corporate backing.

  Action taken

  Nu Image acquired a 52 percent stake in First Look Studios.

  Aftermath

  First Look became a distribution outlet for Nu Image and Millennium Films, but later entered bankruptcy in 2010.

  Ownership stake. 52 percent (March 2007)

  Source

• 2006

  Acquire Ventura Distribution and UrbanWorks EntertainmentM&A

  Background

  First Look wanted to enlarge its home-video platform and content library.

  Action taken

  The company acquired Ventura Distribution, including its UrbanWorks Entertainment subsidiary, and obtained television syndication rights to 56 films from Pinnacle Entertainment.

  Aftermath

  The acquisitions contributed to the expansion of First Look’s film library and its 2006 television syndication initiative.

  Source

• 2005

  Merge with Capital Entertainment and rebrand as First Look StudiosM&A

  Background

  The company sought to strengthen its position in independent film distribution and home entertainment.

  Action taken

  First Look merged with Capital Entertainment and changed its name to First Look Studios in September 2005.

  Aftermath

  Henry Winterstern became chief executive, and the company pursued additional acquisitions.

  Source

• 2001

  Restructure and rename the companyStrategy

  Background

  The business had expanded beyond foreign film sales into domestic distribution, home video, Internet content, and television commercial production.

  Action taken

  Overseas Filmgroup was renamed First Look Media, while the Overseas Filmgroup name was retained for international distribution activities.

  Aftermath

  The restructuring established the First Look identity as the broader corporate and domestic-distribution brand.

  Source

1. 1First Look Studiosen.wikipedia.org