LOS ANGELES, CA – October 23, 2019 – Vine Alternative Investments has acquired Lakeshore Entertainment’s 300 title film and television library, as well as its international servicing and sales operations.
During a time when there is a very high demand for quality source content – for both distribution rights/revenue and adaptation of material for both remakes and new platforms – the Lakeshore library is one of the few remaining impactful independent film libraries.
Lakeshore’s library includes approximately 300 theatrical motion pictures and television series, over 70 of which Lakeshore produced, including Oscar winner, Million Dollar Baby, major franchises, such as Underworld, and significant titles including Runaway Bride, Lincoln Lawyer and The Ugly Truth.
The Library is especially valuable because Lakeshore retained control of worldwide distribution rights, together with copyrights and remake/sequel rights, in most of its productions. It is very unusual for independents to control these distribution rights and IP, which makes the acquisition a particularly valuable opportunity for Vine to advance its strategic growth.
The transaction was well-timed by both sides to take advantage of current market conditions.
Vine has been building their portfolio company, Village Roadshow Entertainment Group, and the versatile and valuable Lakeshore film library and international sales operations fits squarely within Vine’s strategy.
Over the last 25 years, Lakeshore’s veteran management team of Co-CEO/Founder Tom Rosenberg, Co-CEO Eric Reid, CFO Marc Reid and President Gary Lucchesi built Lakeshore into a leading independent film production and distribution company and one of the premier international film and TV sales operations. Lakeshore’s management has been exploring opportunities for the strategic sale of its motion picture library for some time in order to pursue alternative content and distribution utilizing their deep production expertise.
Lakeshore has been providing foreign sales and IP asset management to Vine for over 5 years, creating and maintaining significant value. Vine’s acquisition of Lakeshore’s international sales and servicing operation will bring that capability in as the foundation of a platform available for third party servicing.