MINNEAPOLIS, January 30, 2023–(BUSINESS WIRE)–Mill Creek Entertainment, a division of Alliance Entertainment Holding Corporation (“Alliance Entertainment”), a distributor and wholesaler of the world’s largest stock selection of music, movies, video games, electronics, arcade games and collectibles, today announced that it has entered into a home entertainment licensing agreement with The Walt Disney Company.
In the multi-year deal, Distribution Solutions, a division of Alliance Entertainment Holding Corporation, will distribute hundreds of physical properties (Blu-ray and DVD) of movies and live-action television from ABC Signature, 20th Television, Hollywood Pictures, Touchstone. Photos and content libraries from 20th Century Studios.
“This significant partnership further builds on our studio’s substantial offering of home entertainment products that appeal to both collectors and fans,” said Jeff Hayne, senior vice president of acquisitions and production at Mill Creek Entertainment . “Mill Creek will assume the role of seller of record on certain existing titles.”
“We are thrilled to have signed a licensing agreement with The Walt Disney Company. This incredible partnership is a testament to Mill Creek’s strong reputation as a premier resource for leading studio content providers,” said Ben Means, president of Mill Creek Entertainment. “The titles will benefit from our extensive network of brick-and-mortar and e-commerce retailers, including several where we have our own accessories for DVD and Blu-ray™ products.”
“Disney is a leader in the video industry, and we are honored that they have chosen Alliance to maximize sales of hundreds of their film and television properties,” said Jeff Walker, CEO of Alliance Entertainment. “We have built three major divisions to produce the video industry’s best sales channel to drive sales of physical video products by incorporating Mill Creek’s skills in licensing and production, distribution solutions for retail and bulk distribution and Alliance Entertainment for comprehensive sales. and e-commerce fulfillment.”
About Alliance Entertainment
Alliance Entertainment is a leading distributor of music, movies and consumer electronics. We offer 485,000 unique SKUs in stock, including over 57,300 exclusive CDs, vinyl LPs, DVDs, Blu-rays and video games. Complementing our extensive catalog of media, we also stock a full range of related accessories, toys and collectibles. With over thirty-five years of experience in distribution, Alliance Entertainment serves clients of all sizes, providing a robust suite of services to distributors and retailers worldwide. Our efficient processing and essential seller tools dramatically reduce the costs associated with managing multiple supplier relationships while helping omnichannel retailers expand product selection and fulfillment goals. For more information, visit www.aent.com.
On June 23, 2022, Alliance Entertainment announced that it will go public through a merger transaction with Adara Acquisition Corp. (NYSE: ADRA, ADRA.U, ADRA.WS) (“Adara”), a publicly traded special purpose acquisition company. .
About Adara Acquisition Corp.
Adara raised $115 million in February 2021 and is listed on the NYSE American under the symbols “NYSE: ADRA, ADRA.U, ADRA.WS.” Adara is a blank check company organized for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more companies or entities . Adara is led by its CEO, Thomas Finke (former chairman and CEO of Barings LLC) and its director, W. Tom Donaldson (founder of Blystone & Donaldson). In addition to Messrs. Finke and Donaldson, Adara’s Board of Directors also includes Frank Quintero, Dylan Glenn and Beatriz Acevedo-Greiff.
For more information, visit: https://www.adaraspac.com
Forward-looking statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “attempt,” “expect,” “should,” “should,” “plan,” “predict,” “potential” “seem “, “seek”, “future”, “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements about estimates and forecasts of financial and performance metrics, projections of market opportunities, expectations and timing related to Alliance Entertainment’s business, customer growth and other business milestones, profits potential of the proposed proposal. business combination (the “Proposed Transactions”) and expectations relating to the timing of the proposed transactions.
These statements are based on various assumptions, whether or not identified in this press release, and the current expectations of the management of Adara and Alliance Entertainment and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a guarantee, warranty, prediction or definitive statement of fact or probability and should not be relied upon by an investor. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Alliance Entertainment and Adara.
These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely complete the proposed transactions, including the risk that regulatory approvals are not obtained, are delayed or are subject to unforeseen conditions that could adversely affect the combined company or the expected benefits of the proposed transactions or that the approval of Adara or Alliance Entertainment stockholders is not obtained; failure to achieve the anticipated benefits of the proposed transactions; risks related to the uncertainty of projected financial information with respect to Alliance Entertainment; risks related to the music, video, gaming and entertainment industry, including changes in entertainment delivery formats; global economic conditions; the effects of competition on Alliance Entertainment’s future business; risks related to the compliance network; risks related to expansion and strain on Alliance Entertainment’s operational, financial and management resources; risks related to operating results and growth rate; the business could be harmed by the number of bailout requests made by Adara’s public shareholders; and the factors discussed in Adara’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 under the heading “Risk Factors” and the Current Report on Form 8- K filed June 23, 2022 and other Adara documents. filed with, or to be filed with, the SEC.
No offer or solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy securities or a solicitation of any vote or approval, nor will there be any sale of securities in any state or jurisdiction in which this offer, alone solicitation or sale would be illegal prior to registration or qualification under the securities laws of that other jurisdiction.
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contacts
For investor inquiries, please contact:
Group MZ
Chris Tyson/Larry Holub
(949) 491-8235
AENT@mzgroup.us
