Vision Video Ltd.: Difference between revisions
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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 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 July 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]]. Vision Video Ltd. was retained as a label of PolyGram Video that dealt with budget VHS releases, similar to their existing [[4 Front Video]]. | In March 1991, GE Capital put Virgin Vision up for sale. Virgin soon sold their stake of the company to GE in July 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]]. Vision Video Ltd. was retained as a label of PolyGram Video that dealt with budget VHS releases, similar to their existing [[4 Front Video (UK)|4 Front Video]]. | ||
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, and soon expanded to budget DVDs as well until it was fully retired. | 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 and placed it under its [[Orion Pictures]] subsidiary. 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, and soon expanded to budget DVDs as well 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. | Currently, the film assets of the company are owned by MGM, while Universal Pictures UK owns the rest of the business. | ||