Allumination Snaps Up UAV11 Jul, 2006 By: Jessica Wolf
Allumination Filmworks has acquired the remains of United American Video (UAV), snapping up the defunct distributor's catalog and its direct line into the nation's top retailer, Wal-Mart.
The $7 million cash deal was split nearly evenly between Allumination chiefs Jeff Sagansky and Kerry McCluggage chipping in $3 million and U.K.-based ContentFilm Plc. with $4 million.
Allumination acquired 600 audio and video titles from UAV, and will service product directly to Wal-Mart. The UAV assets also included an in-house authoring and mastering arm.
Allumination started talks to acquire UAV six months ago, said Allumination CEO Cheryl Freeman.
The company is hanging on to 29 of the 40 UAV employees left after the distributor's surprise shuttering late last month, and will retain a South Carolina location for them, she said.
Allumination will also begin an output deal with Hanover House, under the new company umbrella.