Bizarre Video / Jill Kelley merger
Jill Kelly Productions, Bizarre Video to Merge
- Wednesday, Jun 9, 2004
WEST HOLLYWOOD, Calif. – Jill Kelly Productions and privately held Bizarre Video have signed a deal to merge, XBiz was told Wednesday. One of the top five adult entertainment companies in the United States, Jill Kelly Productions Inc. has nearly 300 movies under its belt and plans to release 100 new movies this year.
The company, which has cable, satellite, video-on-demand and Internet operations, had revenues of $3.9 million in 2003 but posted a loss of $9.2 million, according to a filing with the Securities and Exchange Commission.
With nearly 1,000 titles, Brooklyn, N.Y.-based Bizarre Video Unlimited had a reported $2.4 million in revenue in 2003. The company has been in business since 1985.
"The synergy between Jill Kelly Productions and Bizarre Video should allow our company to grow significantly," Jill Kelly Productions CEO Robert Friedland said in a statement. "Our two companies produce and distribute complementary adult entertainment films.”
West Hollywood, Calif.-based Jill Kelly Productions signed the company, which produces fetish movies, to an exclusive licensing and distribution agreement.
Jill Kelly Productions also hired Keith Gordon, vice president of Bizarre and son of founder Morty Gordon, to head the sales staff from a new West Coast sales office.
“With the extra sales fire-power of our new sales team, under Keith [Gordon]'s direction, we expect to cross-sell products to existing customers of both companies, to increase their total purchase volume,” Friedland said.
Sources at Jill Kelly Productions and Bizarre Video would not disclose any financial terms of the deal, but it was learned that Jill Kelly Productions will control the rights to the combined catalog and have acquired an option to buy the Bizarre Video catalog.
XBiz also learned that the companies will consolidate titles in a 50,000-square-foot distribution facility in North Hollywood, Calif.
Jill Kelly Productions was purchased last year by Germantown, Md.-based IDC Acquisition Corp., which spun Jill Kelly Productions off as a public company in a reverse acquisition.
The studio and distributor was started in 2000 by Friedland and porn star Jill Kelly, whose real name is Adrianne D. Moore.
Kelly, 33, has appeared in more than 400 adult movies.
Jill Kelly Productions shares were flat in midday trading Wednesday at $1.05 on the Pink Sheets.