On August 1, 2005 Home Vision Entertainment ceased to be, as they were bought out by Image Entertainment. Image also acquires all of HVE's library of films, and is obligated to make good on the current release plans that HVE had announced.
This also has an affect on The Criterion Company, which distributed many of it's disks through HVE. Under the new arrangement Image will be the exclusive distributor of Criterion releases for the next 5 years. The deal, in addition to the Criterion arrangement, includes $8 million in cash.
This is pretty big in the DVD world. I have had nothing but good experiences with HVE's releases, they have always been at or near Criterion's levels of excellence. Now with Image stepping in, I wonder what they may hold for HVE's titles. Image has a number of good releases, but they also have been known to have spotty quality assurance. I wish them the best and hope that all works out.
You can read more about this at VideoStoreMag.com.
Also at Blogcritics.org.
August 2, 2005
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1 comments:
I was 1 of the 40 people to lose a stable, full-time job as a result of this seemingly abrupt buy-out. 3 months later, I'm still disappointed that so many people were let go with little to no notice, but what can you do? HVE was a really great company to work for. It was fun while it lasted. I only wish there were a few more places like HVE in Chicago!
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