Vision Video Ltd.: Difference between revisions
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{{PageCredits|description=mr3urious and Blue2000|edits=Blue2000|capture=Eric S., FLEMISHDOG and silkdog|video=Eric S., thevideorewind, James Bushnell and DudeThatLogo}} | {{PageCredits|description=mr3urious and Blue2000|edits=Blue2000|capture=Eric S., FLEMISHDOG and silkdog|video=Eric S., thevideorewind, James Bushnell and DudeThatLogo}} | ||
==Background== | ==Background== | ||
'''Vision Video Ltd.''' was a British home video distributor and former production company | '''Vision Video Ltd.''' was a British home video distributor and former production company. The company was originally founded in 1975 as '''Virgin Rags Limited''', and renamed to '''Virgin Entertainments (holdings) Limited''' in 1978 after the company entered the theatrical market as '''Virgin Films & Video''', later split into '''Virgin Video''' and '''Virgin Films'''. | ||
The company mostly released VHS tapes of concerts and eventually went onto to release cult films. Virgin Films produced films that would on their own behalf become cult classics as well. [[20th Century Fox]]'s UK division initially distributed their films theatrically before the company started self-distributing them. By 1983, the company went under the '''Virgin Vision Limited''' name, still using Virgin Video and Virgin Films as brands. | |||
On December 10, 1998 Polygram was sold to Seagram & Sons (the former owner of [[Universal Pictures]] which is now part of NBCUniversal). | By the mid-1980s, the company was known as '''Virgin [[Palace Video (UK)|Palace]] Video''' after entering into a partnership with Stephen Woolley's Palace Video. | ||
In July 1989, Virgin was acquired by Jonathan D. Krane's [[Management Company Entertainment Group]] from the Virgin Group, and was renamed '''MCEG Virgin Vision Limited'''. However, this buyout would soon prove to be a failure, and MCEG soon filed for Chapter 11 Bankruptcy in 1990. By this point, 85% of the company was sold to GE Capital with the remaining 15% stake was re-acquired by the Virgin Group. but then it later sold the remaining 15% to GE Capital. The company scaled down it's operations to video distribution only in the UK. | |||
In March 1991, GE Capital put Virgin Vision up for sale. Virgin soon sold their stake of the company to GE in Jukly 1991, who rebranded the business as '''Vision Video Ltd.''' within the same time, with the MCEG Virgin Vision company itself rebranding under the name by July 1992. In January 1993, [[PolyGram Filmed Entertainment (UK)|PolyGram Filmed Entertainment]] acquired the company with it's operations merged with it's home entertainment arm [[PolyGram Video (UK)|PolyGram Video]], making Vision Video Ltd. a label. | |||
On December 10, 1998, Polygram Filmed Entertainment was sold to Seagram & Sons (the former owner of [[Universal Pictures]] which is now part of NBCUniversal). In 1999, [[Metro-Goldwyn-Mayer Studios|Metro-Goldwyn-Mayer]] acquired the pre-March 31, 1996 PolyGram Filmed Entertainment library, including the Virgin Vision/MCEG/Palace library. As for Vision Video Ltd. itself, the label continued to be used for budget releases after the rebranding of PolyGram Video UK as Universal Pictures UK, until it was fully retired. | |||
Currently, the film assets of the company are owned by MGM, while Universal Pictures UK owns the rest of the business. | |||
==Virgin Video== | ==Virgin Video== | ||