Key Developments: RLJ Entertainment Inc (RLJE.OQ)
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Latest Key Developments (Source: Significant Developments)
RLJ Entertainment Inc Appoints Drew Wilson As Chief Financial Officer
RLJ Entertainment Inc announced that it has named Drew Wilson as its Chief Financial Officer effective immediately. Mr. Wilson is succeeding John Avagliano, who has left RLJ Entertainment to pursue other opportunities. Full Article
RLJ Entertainment Inc Acquires Last Love From Sidney Kimmel Entertainment
RLJ Entertainment Inc announced that it has acquired all U.S. rights to the romantic drama Last Love, based on Francoise Dorner's French novel La Douceur Assassine. Starring Oscar winner Michael Caine (The Dark Knight Rises, Inception), who recently signed on to star in Interstellar -- his 6th Christopher Nolan film, Last Love is written and directed by Sandra Nettelbeck, and co-stars Clemence Poesy (In Bruges, 127 Hours), Justin Kirk (Goats, Showtime's Weeds), Gillian Anderson (The X Files) and Jane Alexander (Dream House, Terminator Salvation). Full Article
RLJ Entertainment Inc Comments On Two Year Revenue Guidance
RLJ Entertainment Inc announced that over the next two years, it expects to achieve average annual revenue growth of approximately 10% and expects to deliver EBITDA margins on average of approximately 10% to 15% over that same time period. Full Article
RLJ Entertainment Inc Announces Filing Extension For Annual Report On Form 10-K
RLJ Entertainment Inc announced that it has filed a Form 12b-25 with the Securities and Exchange Commission that allows the Company an extension to file Annual Report on Form 10-K for the year ended December 31, 2012 for up to an additional 15 calendar days. The Company will also delay the release of fourth quarter and full year 2012 earnings release. The Company has filed the extension due to delays in completing the accounting treatment of certain non-operating items related to the business combination among the Company, RLJ Acquisition, Inc., Image Entertainment, Inc., and Acorn Media Group, Inc., which was consummated in October 2012, necessary for the preparation of the Company's financial statements. Full Article
RLJ Entertainment Inc Issues FY 2012 Guidance Below Analysts' Estimates
RLJ Entertainment Inc announced that for fiscal 2012, it expects to report proforma net revenues between $180-$185 million and EBITDA (excluding certain one-time costs and transaction expenses and including the full year impact of identified and quantified synergies) between $28-$30 million. The lower proforma EBITDA is due to the shortfall of the Company's legacy Image Entertainment revenues but was partially offset by higher publishing and film licensing income generated by the ACL unit within Acorn. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $222 million and EBITDA of $37 million for fiscal 2012. Full Article
RLJ Entertainment Inc Appoints Miguel Penella As CEO
RLJ Entertainment Inc announced that it has named Miguel Penella as its Chief Executive Officer (CEO). Mr. Penella most recently served as President and Chief Operating Officer of the Company and is succeeding Theodore S. Green, who is leaving the Company by mutual agreement. Full Article
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