RLJE bullish 2.76

double bottom









normal chart




log chart

3 on deck

13D and 13D/A show gabelli buying shares. Sounds like a good idea, as AMC networks also has a big stake, and targeted streaming content is hot

Time for some action here!

Morning gapper today.

RLJE bullish 2.20



normal chart


log chart

RLJE bullish 2.35

stochastic14,3,3 oversold crossup scan

RLJE bullish 2.13

close moves into higher bband area scan

RLJE bullish 2.30

taking an easier and simpler longer term approach
instead of focusing on short duration spikes upward
buying near the readily available support area
chart is up-trending

* * $RLJE Video Chart 08-22-16 * *

Link to Video - click here to watch the technical chart video

Boom !!!!!

O/S 13,724,756 shares. very Thin !

Way overpriced...

nice close $1.14 - RLJE

will be next FORD ! very low SS.

News - Agatha Christie's Partners In Crime Makes U.S. Premiere On Acorn TV Beginning Thursday, September 3, 2015

http://ih.advfn.com/p.php?pid=nmona&article=67641081&symbol=RLJE

added more today

added more RLJE

low SS, easy to back above $1.00 meet Nasdaq requirement.

Let's hope they do really well with Acorn TV, etc. OOPS I bought a whole lot of warrants! LINK

RLJ Entertainment Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2013
GlobeNewswire RLJ Entertainment, Inc.
March 19, 2014 4:55 PM
SILVER SPRING, Md., March 19, 2014 (GLOBE NEWSWIRE) -- RLJ Entertainment Inc., ("RLJ Entertainment" or "the Company") (RLJE), today reported results for the fourth quarter and full year ended December 31, 2013. Full details of the financial results as well as Management Discussion and Analysis, or MD&A, can be found in the Company's Form 10-K to be filed with the SEC.

RLJ Entertainment is a leading creator, owner and distributor of media content across digital, broadcast and physical platforms. The Company leverages its branding expertise, access to content and direct to consumer skills to optimize the value of its programs for distinct audiences.

RLJ Entertainment is focused on driving growth through the development of interest-based entertainment services for targeted audiences in niche genres including British drama and mystery, urban, action/thriller, and fitness, by using new technologies to deliver that content to consumers.

Robert L. Johnson, Chairman of RLJ Entertainment stated, "I am pleased with the progress the RLJ Entertainment management team has made right sizing the business and allocating capital to growth areas. As the appetite for unique and genre-specific content continues to grow both domestically and internationally and across multiple platforms, I am confident that RLJ Entertainment is well positioned to capitalize on this demand and drive cash flow generation, especially as it continues to develop new proprietary digital channels."

Basis of Presentation

The financial results for the three and twelve months ended December 31, 2013 and for the period of October 3, 2012 through December 31, 2012, reflect the operating activities of RLJ Entertainment and its subsidiaries (referred to as the "Successor" period). The results for the periods ended October 1, 2012 through October 2, 2012 and January 1, 2012 through October 2, 2012 reflect the operations of only Acorn Media and its subsidiaries (referred to as the "Predecessor" period). The comparative discussion below for these periods is based on Generally Accepted Accounting Principles in the United States (or U.S. GAAP) and the results for the 2012 Predecessor periods are not indicative of, or comparable to, results for the 2013 and 2012 Successor periods.

The Company has included in this release an extensive discussion and presentation of pro forma information in order to assist investors' understanding of the Company's ability to generate cash and grow and meet its financial commitments. This earnings release references non-GAAP measures including Adjusted EBITDA defined as earnings before income tax, depreciation, amortization, cash investment in content, interest expense, transaction and severance costs, warrants and stock-based compensation. The Company will not necessarily present this same level of disclosure on an ongoing basis.

GAAP Financial Results

Based on the Company's consolidated financial statements for the Successor periods three months ended December 31, 2013, compared to the period of October 3, 2012 through December 31, 2012, net revenue decreased $2.0 million to $57.5 million. Net revenue for the twelve months ended December 31, 2013 was $164.8 million compared to the Successor period of October 3, 2012 through December 31, 2012 of $59.5 million and the Predecessor period of January 1, 2012 through October 2, 2012 of $57.8 million.

Net loss for the three months ended December 31, 2013 totaled $2.1 million, compared to a net profit of $1.7 million for the period of October 3, 2012 through December 31, 2012. This decline is mostly attributable to the increase in cost of sales of $3.9 million, which includes $1.6 million of non-cash impairment charges of content rights and inventories for the three months ended December 31, 2013 compared to $143,000 during the period of October 3, 2012 through December 31, 2012.

For the twelve months ended December 31, 2013 (Successor), net loss totaled $31.1 million, compared to net loss of $5.3 million for the period of January 1, 2013 through October 2, 2012 (Predecessor) and net income of $1.7 million (Successor) for the period of October 3, 2012 through December 31, 2012. This decline in earnings is mostly attributed to higher cost of sales and increased selling, general and administrative expenses with the inclusion of Image business for the whole year of 2013 versus less than three months in 2012. In addition, in 2013 there was higher interest expense due to the new credit facility put in place at the formation of the company in 2012. Additionally amortization expense increased due to the purchase price allocation "step up" fair values applied during the accounting of the business combination among RLJ Entertainment, Image Entertainment and Acorn Media in the 4th quarter of 2012.

Miguel Penella, Chief Executive Officer of RLJ Entertainment, commented:

"The Company's 2013 year was a period of significant transition for RLJ Entertainment, and I am pleased with the work that we have done to put in place initiatives that we believe will drive our business forward in 2014 and beyond. During the year, we made critical key hires at the management level, completed the integration of Acorn and Image, strengthened our content investment through capital reallocation and advanced the development of new proprietary subscription video-on-demand ("SVOD") digital channels, most notably through the expansion of programming on Acorn TV, the launch of our new Acacia TV channel and the development of a new urban network.

"In 2014, our focus will be to re-deploy our content capital from deals terminated in 2013 into content acquisitions that will meet or exceed our high return on investment threshold. As a result of this, as well as further progress on our digital distribution initiatives and continued benefit from the repositioning and streamlining of our business, we anticipate strengthened gross margins and improved Adjusted EBITDA in 2014."

Pro Forma Financial Results

The Company is presenting financial information for the three and twelve months ended December 31, 2013, and pro forma financial information for three and twelve months ended December 31, 2012, due to the closing of the business combination among RLJ Entertainment, Image Entertainment and Acorn Media on October 3, 2012. Unaudited pro forma financial information reflects the 2012 operating results of RLJ Entertainment as if Image Entertainment and Acorn Media were acquired as of the beginning of 2012. These combined results are not necessarily indicative of the results that may have been achieved had the combined companies been combined as of such date or period, or of RLJ Entertainment's future operating results.

For the three months ended December 31, 2013, RLJ Entertainment net revenue declined $2.4 million to $57.5 million compared to pro forma net revenue of $59.9 million for the three months ended December 31, 2012. The decline in 4th quarter revenue was driven by (i) a decrease in the Company's Wholesale segment in the U.S. due to a significant reduction in sales return reserves in 2012 for feature films that did not repeat in the current year, and (ii) lower than expected license fees on a few film titles. The decreased revenue in the quarter was partially offset by increases in our Acorn wholesale (10.7%), U.S. Direct to Consumer (2.8%) and U.K. Acorn wholesale (5.6%) lines of business.

For the twelve months ended December 31, 2013, RLJ Entertainment net revenue declined $16.2 million to $164.8 million compared to pro forma net revenue of $181.0 million for the twelve months ended December 31, 2012. The decline in revenue was driven by (i) a significant reduction in rebates and sales return reserves in 2012 in our Wholesale segment, that did not repeat in the current year, (ii) higher than expected sales returns from a terminated distributor, (iii) lower than expected license fees, and (iv) lower than expected customer sales at a key book retailer. These declines were partially offset by $8.0 million in revenue growth from the production and subsequent release of Foyle's War Series 8, solid growth in the Company's Direct-to-Consumer segment, which increased 4.9%, or $1.9 million, for 2013 versus the prior year, and growth in our U.K. wholesale distribution business, which grew 6.7% or $770,000 for 2013 versus prior year.

Adjusted EBITDA in the 4th quarter 2013 increased by $9.8 million or 373.2% to $12.5 million for the three months ended December 31, 2013, compared to the same period in 2012. The increase in Adjusted EBITDA for the three months ended December 31, 2013, is primarily attributable to improved invested content capital and lower cost of goods sold excluding fair value amortization and impairments. Additionally, the Company reduced its SG&A cost by $5.9 million or 26.0% for 2013 compared to the three months ended December 31, 2012.

Adjusted EBITDA increased $4.5 million or 49.4% to $13.7 million for the twelve months ended December 31, 2013, as compared to the prior year period. The increase in Adjusted EBITDA for the twelve months ended December 31, 2013, primarily relates to (i) more effective investment of content during the year and (ii) SG&A cost reduction and post integration cost containment. In 2012, the Company made significant expenditures related to its production of Foyle's War 8, which was released in the first quarter of 2013. The Company is now in preproduction for Foyle's War 9.

Adjusted EBITDA is a non-GAAP financial measure. See below for reconciliation to U.S. GAAP.

RLJ Entertainment, Inc. (RLJE) is a premier independent owner, developer, licensee and distributor of entertainment content and programming in primarily North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (feature films, stand-up comedy), One Village (urban), Acacia (fitness), Athena (documentaries) and Madacy (gift sets). These titles are distributed in multiple formats including broadcast television (including satellite and cable), theatrical and non-theatrical, DVD, Blu-Ray, digital download and digital streaming.

Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. RLJE also owns all rights to the hit U.K. mystery series Foyle's War.

RLJE leverages its management experience to acquire, distribute and monetize existing and original content for its many distribution channels, including its branded digital subscription channels, Acorn TV and Acacia TV, and engages distinct audiences with programming that appeals directly to their unique viewing interests. Through its proprietary e-commerce web sites and print catalogs for the Acorn and Acacia brands, RLJE has direct contacts and billing relationships with millions of consumers.

Forward Looking Statements

This press release may include "forward looking statements" within the meaning of the "safe harbor" provisions of the United Stated Private Securities Litigation Reform Act of 1995. Other than statements of historical fact, all statements made in this press release are forward-looking, including, but not limited to, statements regarding industry prospects, future results of operations or financial position, and statements of our intent, belief and current expectations about our strategic direction, prospective and future results and condition. In some cases, forward-looking statements may be identified by words such as "will," "should," "could," "may," "might," "expect," "plan," "possible," "potential," "predict," "anticipate," "believe," "estimate," "continue," "future," "intend," "project" or similar words.

Forward-looking statements involve risks and uncertainties that are inherently difficult to predict, which could cause actual outcomes and results to differ materially from our expectations, forecasts and assumptions. Factors that might cause such differences include, but are not limited to:

Our financial performance, including our ability to achieve revenue growth and Adjusted EBITDA or realize synergies;
Our ability to make scheduled payments or to refinance our debt obligations;
Our ability to satisfy financial ratios;
Our ability to fund planned capital expenditures and development efforts;
Our inability to gauge and predict the commercial success of our programming;
The ability of our officers and directors to generate a number of potential investment opportunities;
Our ability to maintain relationships with customers, employees, suppliers and lessors;
Delays in the release of new titles or other content;
The effects of disruptions in our supply chain;
The loss of key personnel;
Our public securities' limited liquidity and trading; or
Our ability to continue to meet the NASDAQ Capital Market continuing listing standards.
You should carefully consider and evaluate all of the information in this press release , including the risk factors listed above and in our Form 10-K filed with the Securities Exchange Commission (or SEC), including "Item 1A. Risk Factors." If any of these risks occur, our business, results of operations, and financial condition could be harmed, the price of our common stock could decline and you may lose all or part of your investment, and future events and circumstances could differ significantly from those anticipated in the forward-looking statements contained in this press release. Unless otherwise required by law, we undertake no obligation to release publicly any updates or revisions to any such forward-looking statements that may reflect events or circumstances occurring after the date of this Annual Report.

Readers are referred to the most recent reports filed with the SEC by RLJ Entertainment. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

RLJ ENTERTAINMENT, INC.

CONSOLIDATED BALANCE SHEETS

As of December 31, 2013 and 2012






Successor
(In thousands, except share data) December 31,

2013 2012
ASSETS

Cash and cash equivalents $7,674 $4,739
Accounts receivable, net 20,324 24,611
Inventories, net 15,589 23,029
Investments in content, net 81,641 89,797
Prepaid expenses and other assets 2,527 1,938
Property, equipment and improvements, net 1,759 1,800
Equity investment in affiliates 25,233 25,449
Other intangible assets 19,651 23,883
Goodwill 47,066 47,382
Total assets $221,464 $242,628
LIABILITIES AND EQUITY

Accounts payable and accrued liabilities $32,331 $30,590
Accrued royalties and distribution fees 43,309 32,658
Deferred revenue 4,402 4,339
Debt, less debt discount 77,558 82,323
Deferred tax liability 1,814 350
Stock warrant liability 4,123 4,324
Total liabilities 163,537 154,584
Equity:

Common stock, $0.001 par value, 250 million shares authorized, 13,700,862 and 13,377,546 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively 13 13
Additional paid-in capital 86,938 86,133
Retained earnings (deficit) (29,334) 1,743
Accumulated other comprehensive gain 310 155
Total equity 57,927 88,044
Total liabilities and equity $221,464 $242,628


RLJ ENTERTAINMENT, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended and Year Ended December 31, 2013 and For the Periods Ended December 31, 2012 and October 2, 2012





Successor Predecessor
(In thousands, except per share data)








Three Months
Ended
December 31,
2013 Year
Ended
December 31,
2013 The Period of
October 3, to
December 31,
2012 (1) The Period of
October 1, to
October 2,
2012 The Period of
January 1, to
October 2,
2012






Revenue $57,497 $164,830 $59,529 $383 $57,830
Cost of sales 44,004 132,631 40,096 186 31,819
Gross profit 13,493 32,199 19,433 197 26,011






Selling expenses 8,784 26,830 9,096 86 11,149
General and administrative expenses 5,983 22,810 5,909 5,169 19,776
Depreciation and amortization 1,866 6,174 1,571 2 400
Total selling, general and administrative expenses 16,633 55,814 16,576 5,257 31,325
INCOME (LOSS) FROM OPERATIONS (3,140) (23,615) 2,857 (5,060) (5,314)






Equity earnings of affiliates 372 3,296 695 — 983
Interest expense, net (2,252) (8,279) (2,002) (9) (847)
Other income (expense) 3,473 (278) 852 — 118
Total other income (expense) 1,593 (5,261) (455) (9) 254
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES (1,547) (28,876) 2,402 (5,069) (5,060)
Provision (benefit) for income taxes 520 2,201 659 — 203
NET INCOME (LOSS) (2,067) (31,077) 1,743 (5,069) (5,263)
Less net income attributable to noncontrolling interests — — — — (43)
NET INCOME (LOSS) APPLICABLE TO COMMON SHAREHOLDERS $ (2,067) $ (31,077) $ 1,743 $ (5,069) $ (5,306)
RLJ ENTERTAINMENT, INC.

Unaudited pro forma financial information reflects the operating results of RLJE as if Image and Acorn Media were acquired as of the periods indicated. These combined results are not necessarily indicative of the results that may have been achieved had the combined companies been combined as of such dates or periods, or of our future operating results.

Management believes Adjusted EBITDA to be a meaningful indicator of our performance that provides useful information to investors regarding our financial condition and results of operations because it removes material noncash items that allows investors to analyze the operating performance of the business using the same metric management uses. The exclusion of noncash items better reflects our ability to make investments in the business and meet obligations. Presentation of Adjusted EBITDA is a non-GAAP financial measure commonly used in the entertainment industry and by financial analysts and others who follow the industry to measure operating performance. The Company uses this measure to assess operating results and performance of its business, perform analytical comparisons, identify strategies to improve performance and allocate resources to its business segments. While management considers Adjusted EBITDA to be important measures of comparative operating performance, it should be considered in addition to, but not as a substitute for, net income and other measures of financial performance reported in accordance with GAAP. Not all companies calculate Adjusted EBITDA in the same manner and the measure as presented may not be comparable to similarly-titled measures presented by other companies.

The following unaudited pro forma financial information for the three and twelve months ended December 31, 2013 and 2012 reflects the operating results of RLJE as if Image and Acorn Media were acquired as of January 1, 2012. The unaudited pro forma financial information does not include adjustments for Business Combination transaction costs and severance incurred and other one-time expenses, nor does it include adjustments for synergies. These combined results are not necessarily indicative of the results that may have been achieved had the companies been combined as of such historical dates or periods, or of RLJE's future operating results.

PROFORMA INCOME STATEMENT






Three Months Ended December 31, Year Ended December 31,
(In thousands)
2013
Actual 2012
Pro Forma (1), (2) 2013
Actual 2012
Pro Forma (1), (2)
Revenues $57,497 $59,883 $164,830 $181,044
Costs of sales 44,004 41,832 132,631 127,038
Gross profit 13,493 18,051 32,199 54,006
Selling, general and administrative expenses 16,633 22,488 55,814 68,449
Loss from operations (3,140) (4,437) (23,615) (14,443)
Equity earnings of affiliates 372 695 3,296 2,013
Interest expense, net (2,252) (1,938) (8,279) (7,752)
Other income (expense) 3,473 (2,241) (278) 208
Provision for income taxes (520) (659) (2,201) (705)
Net loss $ (2,067) $ (8,580) $ (31,077) $ (20,679)





Adjusted EBITDA (3) $12,477 $2,637 $13,656 $9,140





Notes to the Pro Forma Income Statement Table:
(1) An adjustment for interest expense has been made to the prior year ended December 31, 2012 as if the existing debt was in place throughout the period.





(2) An adjustment has been made to the 2012 pro forma for amortization expense related to increases in the recorded amounts of other intangible assets and investments in content as if purchase accounting had been applied throughout the period.





(3) The components and reconciliation of Adjusted EBITDA to our net loss is below.





The following table includes the reconciliation of our consolidated U.S. GAAP net loss to Adjusted EBITDA:






Three Months Ended December 31, Year Ended December 31,
(In thousands)
2013
Actual 2012
Pro Forma 2013
Actual 2012
Pro Forma





Net loss $ (2,067) $ (8,580) $ (31,077) $ (20,679)





Amortization of content 24,810 14,872 75,345 64,380
Cash investment in content (11,963) (13,021) (50,239) (63,184)
Depreciation and amortization 1,866 1,443 6,174 5,689
Interest expense 2,252 1,938 8,279 7,752
Provision for income tax 520 659 2,201 705
Transactions costs and severance -- 5,774 2,369 13,560
Warrant liability fair value adjustment (3,283) (622) (201) (622)
Stock-based compensation 342 175 805 1,539
Adjusted EBITDA $12,477 $2,638 $13,656 $9,140

Contact:
Sloane & Company
Erica Bartsch, 212-446-1875
ebartsch@sloanepr.com
Traci Otey Blunt, 240-744-7858
The RLJ Companies
press@rljcompanies.com

Acorn Productions Ltd Announces Two Major New BBC1 Dramas for Agatha Christie's 125th Celebration Year

RLJ Entertainment Oversees Extraordinary Raft of Developments Across Platform, Bringing the Christie Brand to New Audiences

.

GlobeNewswire
RLJ Entertainment, Inc.
February 28, 2014 10:58 AM















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.





..
.
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SILVER SPRING, Md., Feb. 28, 2014 (GLOBE NEWSWIRE) -- Acorn Productions Ltd today (Friday 28 February) announces that BBC1 has commissioned two significant new drama adaptations to bring Agatha Christie masterpieces to a new generation:
• A new adaptation of And Then There Were None, Christie's most successful work and one of the best-selling crime novels of all time, will be written by Sarah Phelps (Great Expectations, BBC; Oliver Twist, BBC) produced by Mammoth Screen (Parade's End, Blandings, BBC; Endeavour, ITV) in partnership with Acorn Productions and is slated for broadcast at Christmas 2015.
• Meanwhile, crime-fighting duo Tommy and Tuppence will return to our screens in a 1950s-set six-part adventure thriller series called Partners in Crime, starring David Walliams as Tommy. This brand new adaptation will be produced by Endor Productions (The Escape Artist; Restless; State of Play; The Girl in the Cafe, BBC) in partnership with Acorn Productions and the first three episodes (TX autumn 2015) will be written by award-winning author, playwright and director Zinnie Harris.

These two major new BBC1 dramas are just part of an extraordinary raft of developments as RLJ Entertainment, of which Acorn Productions Ltd is a subsidiary company, reinvents the Christie brand across a range of platforms, bringing Christie -- the best-selling novelist of all time -- to a new generation of crime fans.

Initiatives include a recently announced feature film (a star-studded re-make of Murder on the Orient Express from Fox produced by Ridley Scott, Mark Gordon and Simon Kinberg); Hidden Object tablet games, such as the 2013 release of Dead Man's Folly that has seen some 200,000 downloads in the first few weeks of release and an average rating of 4.5 stars; and forthcoming announcements for West End theatre.

Meanwhile, Acorn Productions and Agatha Christie Ltd are investing heavily in keeping the Agatha Christie brand fresh and engaged with its audience. The new Agatha Christie website was launched in September last year as the definitive guide to Christie's stable of world-famous detectives, and a global hub for a fan community across the world. Further phases are to be rolled out throughout 2014. Alongside this the official social media channels converse with a hugely international fan base, achieving an audience of close to 1.6 million and growing, on Facebook alone.

Hilary Strong, MD of Acorn Productions, said: "We are delighted to unveil these two major new dramas for BBC1. They are an integral part of our plans for the Christie brand and demonstrate the scale of our ambition at Acorn Productions Ltd for the portfolio of works that we own. With Christie's 125th anniversary next year, we are developing innovative new content on all platforms -- publishing, digital and theatre -- with new adaptations of her timeless stories.

"In addition to our publishing, digital and theatrical business, RLJ Entertainment is resourcing Acorn Productions to become a major player in British drama production. Our immediate access to RLJ Entertainment's US distribution network and funding means that Acorn Productions is ideally placed to produce or co-produce fresh new content for the UK, US and world markets."

Mathew Prichard, Chairman of Agatha Christie Limited and grandson of Agatha Christie said: "It is fantastic that, in her all-important 125th anniversary year, my grandmother is to be welcomed with such enthusiasm to the BBC: a wonderful new home for her much-loved characters and their stories, and one which she would be delighted with. The commitment to these productions from all those involved is great to see, and I've no doubt will result in compelling new adaptations, to be enjoyed by fans old and new."

Basi Akpabio, Creative Director of Acorn Productions, said: "The Agatha Christie estate has an extraordinarily deep well of stories and characters to work with and offers endless possibilities for creative renewal. And Then There Were None is Christie at her darkest and most frightening -- the ultimate justice meted out for secrets and crimes. This promises to be fast-paced drama at its best and we're thrilled to be working with Mammoth Screen and writer Sarah Phelps. Meanwhile, Christie herself said that the books featuring amateur sleuths Tommy Beresford and Prudence Cowley were the ones she most enjoyed writing, so we are looking forward to collaborating with Endor Productions and Zinnie Harris to bring them to a whole new generation of fans."

Damien Timmer, joint Managing Director of Mammoth Screen, said of And Then There Were None: "We want this to be the definitive adaptation of one of the most strikingly original and influential novels of the 20th Century, and we're so pleased to have the extraordinarily talented Sarah Phelps writing the screenplay. And Then There Were None is arguably Agatha Christie's masterpiece, and it's a privilege to be bringing it to the screen."

Hilary Bevan Jones, co-founder of Endor Productions, said of Partners in Crime: "To reimagine the iconic Christie characters Tommy and Tuppence and their adventures for a new television audience is a fabulous opportunity for all of us at Endor. Our incredible creative team of David Walliams, Zinnie Harris and Claire Wilson are crafting a drama that promises to be both thrilling and fresh."

David Walliams said: "In bringing these thrilling stories to the screen, it is our ambition for Tommy & Tuppence to finally take their rightful place alongside Poirot and Marple as iconic Agatha Christie characters. I was first drawn to the delicious notion of a married couple solving crimes together, and the more I read of the Tommy & Tuppence novels and short stories I realised they are among Christie's very best work."

Acquiring, licensing and distributing iconic brands to new audiences is part a major drive from the US entertainment mega-group, RLJ Entertainment, Inc. (RLJE), owned by Robert L. Johnson, to invest in British drama imports for North America and beyond.

"What we are doing with Christie is, itself, part of a growth strategy for RLJ Entertainment; now a one-stop-shop for development, production, licensing and distribution," explained Hilary Strong.

www.agathachristie.com

Facebook: www.facebook.com/OfficialAgathaChristie Twitter: @QueenOfCrime

Notes to editors

Acorn Productions Ltd is the UK based rights holding production arm of RLJ Entertainment, Inc. (RLJE) a premier independent owner, developer, licensee and distributor of entertainment content and programming in primarily North America, the United Kingdom and Australia with over 5,300 exclusive titles. Acorn Productions Ltd manages the literary and media rights to Agatha Christie's works around the world, on behalf of Agatha Christie Ltd. All licensing arrangements are run through Acorn Production's offices in the UK. Acorn Productions Ltd also manages all rights to period UK detective drama Foyle's War and develops unique drama programming for the UK and US markets.

'And Then There Were None'

First published in 1939, 'And Then There Were None' ('ATTWN') is the world's best-selling mystery ever and one of the best-selling books of all time. It has sold over 100 million copies to date, making it Christie's most successful work, and remains on the curriculum and recommended reading lists in schools around the world.

'ATTWN' has been adapted more often than any other Christie work, including hit stage productions on both the West End and Broadway in the 1940s and a new version of the play written by Kevin Elyot and directed by Steven Pimlott, which opened at the Gielgud Theatre in 2005.

Film adaptations include Rene Clair's iconic 1945 US production, the George Pollock release in 1965 and the Peter Collinson directed 1974 movie set in the Iranian desert. In the UK, the BBC adapted the novel for TV in 1949 and ITV did so again in 1959. It has also inspired several movies and TV iterations including the CBS show 'Harper's Island, Survivor' and an episode of CSI: Crime Scene Investigation. There was even an episode of 'Family Guy' called And Then There Were Fewer that parodied the novel.

Event drama of the highest order, this BBC1 commission is a new telling for a new generation of Agatha Christie's extraordinary and ingenious masterpiece. Featuring an ensemble cast of world class acting talent this is Christie at her darkest and most frightening -- the ultimate justice meted out for secrets and crimes. This promises to be fast-paced drama at its best.

This will be treated as a major TV event with 3 x 60' episodes broadcast on BBC1 over three consecutive nights in 2015. (A 2 x 90' mini series and a 4 x 45' mini series will be produced specifically for international broadcasters).

'Partners in Crime'

First published in 1922 ('The Secret Adversary'), Tommy Beresford & Prudence 'Tuppence' Cowley stumbled into detective work accidentally and soon became full-time sleuths. Agatha Christie cast the couple in four full-length novels as well as a collection of short stories entitled 'Partners in Crime' (1929). Tuppence is a charismatic, excitable and impulsive individual who acts as the perfect partner to the less imaginative, more methodical Tommy. In the original books, Christie developed the relationship between Tommy and Tuppence as well as ageing the couple from "bright young things" of the 1920s ('The Secret Adversary', 1922) to mature sleuths in their 70s ('Postern of Fate', 1973).

Tommy and Tuppence were portrayed by James Warwick and Francesca Annis, first in the feature-length The Secret Adversary (1982), and then in the 10-episode hour-long series Agatha Christie's Partners in Crime (1983). Tuppence was also portrayed by Greta Scacchi in 2006 in an episode from the Miss Marple series (based on 'By The Pricking of My Thumbs'), this time with Tuppence and Miss Marple carrying out the detective work together whilst Tommy (Anthony Andrews) is away on MI6 business.

In 2005 the French director Pascal Thomas adapted the novel 'By The Pricking of My Thumbs' under the title Mon Petit Doigt M'a Dit, starring Andre Dussolier and Catherine Frot and set in France. A follow-up feature film named 'Partners in Crime' (Le Crime est Notre Affaire) was released in 2008 with a storyline based on a Miss Marple story, '4.50 from Paddington'.

This new BBC1 adaptation for 2015, Partners in Crime, sets the amateur duo in 1950s Britain, a country facing up to the looming threat of the Cold War. In search of adventure they stumble into a world of undercover agents, mysterious evil masterminds and diabolical political conspiracy.

RLJ Entertainment, Inc. (RLJE) is a premier independent owner, developer, licensee and distributor of entertainment content and programming in primarily North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (feature films, stand-up comedy), One Village (urban), Acacia (fitness), Athena (documentaries) and Madacy (gift sets). These titles are distributed in multiple formats including broadcast television (including satellite and cable), theatrical and non-theatrical, DVD, Blu-Ray, digital download and digital streaming.

Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. RLJE also owns all rights to the hit UK mystery series Foyle's War.

RLJE leverages its management experience to acquire, distribute and monetize existing and original content for its many distribution channels, including its branded digital subscription channels, Acorn TV and Acacia TV, and engages distinct audiences with programming that appeals directly to their unique viewing interests. Through its proprietary e-commerce web sites and print catalogs for the Acorn and Acacia brands, RLJE has direct contacts and billing relationships with millions of consumers.

Companies interested in taking a license to adapt Agatha Christie's works into films or games, license stage plays, translate and publish new editions of her novels and short stories or quote from her writings should contact Acorn Productions Limited.

Mammoth Screen

Mammoth Screen is one of the UK's leading independent production companies. Recent BBC shows have included Blandings II for BBC One, the award winning Parade's End (HBO/BBC2) and Best Possible Taste -- the Kenny Everett Story for BBC4. Current shows in production include Remember Me and Poldark for BBC One, ALT for E4 and Endeavour II for ITV.

Mammoth Screen's Michele Buck, Karen Thrussell and Damien Timmer executive produced Agatha Christie's Poirot for ITV - the final run of the series tx'd in 2013 to great acclaim.

Endor Productions

Founded by acclaimed Film and TV industry leader Hilary Bevan Jones, Endor has rapidly grown to become one of the most successful and influential independent drama production companies in the UK.

Recent credits include legal thriller THE ESCAPE ARTIST from Spooks creator, David Wolstencroft, starring David Tennant and Toby Kebbell, and William Boyd's RESTLESS for BBC1, starring Hayley Atwell, Charlotte Rampling, Rufus Sewell, Michelle Dockery and Michael Gambon. Upcoming productions include TUBBY AND ENID, a feature length musical for the BBC, written and directed by Victoria Wood, and starring Imelda Staunton and Michael Ball, and ROALD DAHL'S ESIO TROT, adapted by Richard Curtis and Paul Mayhew-Archer, starring Dame Judi Dench and Dustin Hoffman.

An ambitious international TV and film development slate includes deals with major UK and US broadcasters and partnerships with leading creative talent including William Boyd, Neil Gaiman, David Wolstencroft, Fiona Seres, Julian Farino and Kelly Marcel.

Endor is a partner company in the Red Arrow Entertainment Group, which is backed by Germany's Pro7Sat1 Group.












Contact:

For media enquiries, please contact:
Chad Campbell, RLJ Entertainment, Inc.
301.608.2115 *138
ccampbell@RLJEntertainment.com

RLJ Entertainment Announces New Digital Fitness Channel Acacia TV
GlobeNewswire RLJ Entertainment, Inc.
February 19, 2014 11:00 AM
Following a record year for its first proprietary digital channel Acorn TV,
the company's second channel offers diverse slate of fitness content
with more than 70 workouts

Hosted by SparkPeople's Nicole Nichols,
Workouts include Shiva Rea, Exhale: Core Fusion,
R.I.P.P.E.D., Kathy Smith, Paul Katami,
celebrities Lisa Whelchel, Bethenny Frankel, Kenya Moore
and Olympians Kristi Yamaguchi and Marlen Esparza

SILVER SPRING, Md., Feb. 19, 2014 (GLOBE NEWSWIRE) -- Putting an end to exercise boredom with the ultimate in flexibility and variety, RLJ Entertainment (RLJE), founded by Robert L. Johnson, is excited to announce the launch of Acacia TV, its second proprietary digital channel. Available at AcaciaLifestyle.com/tv and through its new Roku channel, Acacia TV offers 75 workouts in a diverse range of disciplines, including yoga, strength training, dance, barre, Pilates, abs and core, pregnancy, low impact, therapeutic, cardio, tai chi and kettlebell, among many others. The channel is for all fitness levels, offering workouts from beginners through advanced. Since 2006, Acacia has been a leading producer of original and award-winning yoga, fitness and wellness DVD programming. Acacia features fun, results-oriented workouts with consistently high production values and expert, authentic instruction.

Acacia TV's workouts feature many of the top fitness instructors in the country including multiple workouts from the world's leading female yoga instructor Shiva Rea, the critically-acclaimed, best-selling Core Fusion DVD series from exhale spa's Fred DeVito and Elisabeth Halfpapp, a beginner's workout from the leading kettlebell master instructor Paul Katami, fitness icon Kathy Smith, celebrities like talk show host Bethenny Frankel, Real Housewives of Atlanta's Kenya Moore and Olympic gold medalist Kristi Yamaguchi;as well as Acacia's newest workouts, Power Boxing Workout with Olympian Marlen Esparza and R.I.P.P.E.D. Total Body Challenge, the first workout from the popular brand. The channel also features several workouts for exercisers over 50 with Ageless with Kathy Smith: Staying Strong and Total Body Turnaround, Keeping Fit in Your 50s, Arthritis Rx and Lisa Whelchel's Everyday Workout for the Everyday Woman.

SparkPeople.com's popular editor-in-chief and trainer, Nicole Nichols, hosts the channel and guides subscribers through some of the features and benefits of Acacia TV with several introductory videos. Nicole's first SparkPeople DVD workouts, 28-Day Boot Camp and Total Body Sculpting,are also included. SparkPeople.com is America's #1 online weight-loss and fitness community with more than 15 million members worldwide.

The channel also features several pre-set programs with introductions by Nicole, including a five-day dance plan with Bollywood, hip hop, Latin groove, Brazilian and belly dance; a seven-day lean & toned plan focused on ballet inspired barre workouts; and a seven-day beginners program with beginner's cardio, strength training, Pilates and Lisa Whelchel's Everyday Workout.

Miguel Penella, Chief Executive Officer of RLJ Entertainment, Inc., said, "After the record-setting year for the Acorn brand with Acorn TV, it was a natural choice for us to extend our successful fitness brand Acacia with Acacia TV. Exercisers are looking for more variety in their workouts and Acacia TV allows them to choose from several dozen workouts so they will never get bored working out again."

Available at its popular consumer website, www.AcaciaLifestyle.com, which also sells assorted gifts and apparel, Acacia TV streams more than 75 workouts. Consumers can easily try out the service with its 10-day free trial. After the trial, Acacia TV offers three different subscription options: monthly access ($6.99), 90-Day Burn ($14.99) or yearly subscription ($49.99). There are no commercials or popup ads on Acacia TV.

Acacia TV is accessible on the #1 streaming player, Roku, as well as computers, and through the browsers on iPhones and iPads. It is also available on many other portable devices. In the coming months, Acacia TV will be available on many more platforms.

Full access to Acacia TV is available to press upon request.

To watch Acacia TV via computers, iPhones, iPads, etc.: http://AcaciaLifestyle.com/tv

To add the Acacia TV channel on your Roku: https://owner.roku.com/add/acaciatv

RLJ Entertainment, Inc. (RLJE) is a premier independent owner, developer, licensee and distributor of entertainment content and programming in primarily North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (feature films, stand-up comedy), One Village (urban), Acacia (fitness), Athena (documentaries) and Madacy (gift sets). These titles are distributed in multiple formats including broadcast television (including satellite and cable), theatrical and non-theatrical, DVD, Blu-Ray, digital download and digital streaming.

Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. RLJE also owns all rights to the hit UK mystery series Foyle's War.

RLJE leverages its management experience to acquire, distribute and monetize existing and original content for its many distribution channels, including its branded digital subscription channels, Acorn TV and Acacia TV, and engages distinct audiences with programming that appeals directly to their unique viewing interests. Through its proprietary e-commerce web sites and print catalogs for the Acorn and Acacia brands, RLJE has direct contacts and billing relationships with millions of consumers.


Contact:
RLJ Entertainment,
Chad Campbell, 301.608.2115 *138,
ccampbell@rljentertainment.com

Acorn TV's Record-Breaking Year With Exclusive North American Premieres of Hit British Mysteries and Dramas
GlobeNewswire RLJ Entertainment, Inc.
January 22, 2014 11:00 AM
'Best British TV' Streaming Service Triples Subscribers and Grows 475% in Weekly Views


On Track for Groundbreaking 2014 With Even More Exclusive Premieres and Availability on Additional Platforms

SILVER SPRING, Md., Jan. 22, 2014 (GLOBE NEWSWIRE) -- With the growing excitement surrounding British television and its reputation for brilliant casts, sumptuous costumes and well-written storylines, Acorn TV, the first streaming service focused on the best of British TV in North America, achieves a record-breaking year. Acorn TV, RLJ Entertainment's (RLJE) first proprietary digital channel, tripled its subscribers, reached nearly four million website visits to www.Acorn.TV, and, in just the last six months, has grown 475% in weekly views. The North American premiere of smash hit UK series Doc Martin, Series 6, among others exclusives, and its growing marketing outreach for its popular Roku and online channels were instrumental in Acorn TV's success in 2013. 2014 is looking to be another record year with more exclusive premieres, including episodes from the final series of Agatha Christie's Poirot; and increased availability on additional devices.

In fall 2013, the exclusive premiere of Doc Martin, Series 6 set a new record for Acorn TV with more than a quarter of a million views during its initial eight-week debut. Doc Martin is one of the biggest success stories on public television in recent years, and, in the U.K., it's among ITV's highest-rated dramas with more than 10 million viewers. Additionally in 2013, Acorn TV introduced North American viewers to a diverse assortment of exclusive premieres, including Australian noir Jack Irish starring Guy Pearce; archaeological reality series Time Team, UK hit series Vera starring two-time Oscar nominee Brenda Blethyn; new episodes of its longtime, bestselling series Midsomer Murders; as well as streaming the newest episodes of universally acclaimed detective series Foyle's War, to which RLJ Entertainment owns all rights to.

Acorn TV began 2014 with the exclusive debut of hit Australian period mystery series Miss Fisher's Murder Mysteries, Series 2. Coming in February, Acorn TV features another Jack Irish TV movie, more feature-length episodes from 1960s set mystery series George Gently, and new sitcom You, Me & Them starring Anthony Head and Lindsay Duncan. Beginning in summer 2014, the "Best British TV" streaming service features the final episodes of Agatha Christie's Poirot, which will conclude David Suchet's iconic portrayal of Poirot in all 70 adaptations.

Miguel Penella, Chief Executive Officer of RLJ Entertainment, Inc., said, "RLJ Entertainment has worked aggressively the last 2 years to create and program a subscription service that can fill the void for the millions of Americans craving high quality British content. With tripling our subscriber base and reaching record-setting views, 2013 was a breakthrough year for Acorn TV. With even more exclusive content and platforms, 2014 will be another groundbreaking year for Acorn TV."

Available at www.Acorn.TV and via its Roku channel, Acorn TV streams more than 80 mysteries, period dramas, documentaries and comedies, with more than half streaming exclusively on Acorn TV. Acorn TV adds at least six series each month and offers consumers a 30-day free trial.

Acorn TV is accessible on the #1 streaming player, Roku, as well as computers, and through the browsers on iPhones and iPads. It is also available on many other portable devices. In the coming months, Acorn TV will be available on many more platforms, including an iOS app, and Samsung Smart TV and Blu-ray players.

Called the "chief curators of the best Brit TV" by TIME magazine, RLJ Entertainment's Acorn brand holds exclusive North American distribution rights to many of the most critically acclaimed British programs, which are available for streaming on Acorn TV and from Acorn in lavishly packaged DVDs/Blu-rays. RLJ Entertainment also manages the literary estate of Agatha Christie, the best-selling novelist of all time.


Full access to Acorn TV is available to press upon request.
To watch Acorn TV via computers, iPhones, iPads, etc.: www.Acorn.TV
To add the Acorn TV channel on your Roku: https://owner.roku.com/add/acorntv
About Acorn TV

Launched in July 2011 and available at www.Acorn.TV, Acorn TV is the first British TV focused streaming service in North America. Acorn TV offers a free 30-day trial and thereafter is just $4.99/month or $49.99/year. Acorn TV subscribers also receive free shipping on all orders from Acorn's catalog and website, AcornOnline.com.

RLJ Entertainment, Inc. (RLJE) is a premier independent licensee and distributor of entertainment content and programming in North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (feature films, stand-up comedy), One Village (urban), Acacia (fitness), Slingshot (faith), Athena (documentaries), Criterion (art films) and Madacy (gift sets). These titles are distributed in multiple formats including DVD, Blu-Ray, digital download, digital streaming, broadcast television (including satellite and cable), theatrical and non-theatrical.

Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has direct contacts and billing relationships with millions of consumers.

RLJE leverages its management experience to acquire, distribute, and monetize existing and original content for its many distribution channels, including its nascent branded digital subscription channels, and engages distinct audiences with programming that appeals directly to their unique viewing interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia brands, and owns the recently launched Acorn TV digital subscription service.


Contact:
Press Contact:
RLJ Entertainment, Chad Campbell,
301.608.2115 *138, ccampbell@rljentertainment.com

Just in Time for Fitness Season and Staying in Shape Through the Holidays, Award-Winning Fitness DVD Distributor Acacia Releases New High-Intensity Workouts and a Celebrity Beginner Workout
R.I.P.P.E.D. Total Body Challenge, Power Boxing Workout With Olympian Marlen Esparza, and Lisa Whelchel's Everyday Workout for the Everyday Woman
GlobeNewswire RLJ Entertainment, Inc.
December 5, 2013 11:00 AM
SILVER SPRING, Md., Dec. 5, 2013 (GLOBE NEWSWIRE) -- With the weather getting colder and exercisers looking for indoor ways to stay in shape through the food-filled holidays, Acacia, an RLJ Entertainment, Inc. brand, is excited to announce the release of three new DVD workouts -- R.I.P.P.E.D. Total Body Challenge, Power Boxing Workout with Olympian Marlen Esparza, and Lisa Whelchel's Everyday Workout for the Everyday Woman. Whether you've been intimated in the past by workouts like Insanity or P90X, or you're looking for a new challenge, R.I.P.P.E.D. offers a new innovative, high-intensity workout which burns more than 700 calories in just 48 minutes. Next, a breakout star of the 2012 Olympics and America's first female medalist in Olympic boxing, Marlen Esparza offers four high-intensity workouts to help you gain strength, agility, cardio fitness, and mental toughness. Last, the popular Facts of Life star, Survivor runner-up, and mom of three, Lisa Whelchel, created an inspiring and accessible workout for people like her that dislike working out but, as they get older, want to remain healthy and active. The DVDs are available now at Amazon.com, AcaciaLifestyle.com, and select retailers, SRP: $16.99 each. Please visit youtube.com/AcaciaFitness to watch clips from each workout. Press copies are readily available upon request.

R.I.P.P.E.D. Total Body Challenge- Not Extreme, Not Insane, Just R.I.P.P.E.D.

Franchised to more than 8,000 fitness professionals across the country and approved by the American Council on Exercise, this safe, effective, interval-training system delivers amazing results with a scientifically proven, plateau-proof fitness formula to help shape and tone every body. In just five workout segments, plus a warm-up and cool down, you'll burn more than 700 calories in just 48 minutes. The workout was created by fitness power couple Terry and Tina Shorter, who also sing and compose all the addictive original music. With this athletic, musical driven format, you'll stay engaged, time will fly, you'll never get bored, and you'll achieve the strong, fit physique you've always wanted. Whether you're a fitness buff or beginner, you can achieve amazing results with R.I.P.P.E.D. (DVD Single, Approx. 48 min., plus bonus)

Power Boxing Workout with Marlen Esparza, Olympic Medalist

America's first female medalist in Olympic boxing, reigning seven-time USA Boxing National Champion, and motivational speaker Marlen Esparza debuts 4 high-intensity workouts. Ranked #1 in the United States, bronze medalist Marlen shares the unique workout routine that gets her into fighting shape to win competitions all over the world. Given the health and cardiovascular benefits of boxing training, whether you are a boxing fan or a newcomer, Marlen's new workouts will help you get a fit, lean and strong physique. She is also one of the select few that currently live and train at the U.S. Olympic Center in Colorado Springs in preparation for the 2016 Olympic Games. (DVD Single, Approx. 55 min., plus bonus)

Lisa Whelchel's Everyday Workout for the Everyday Woman

With the help of her trainer, Lisa leads these inspiring and accessible workouts geared towards beginners with a friendly, encouraging vibe and modifications for all levels plus personal training tips on proper body alignment, engaging the core, and breathing. The Facts of Life star and Survivor: Philippines fan favorite says, "I'm an everyday woman when it comes to fitness. I know exercise is key for my health and well-being, but I don't always enjoy doing it. And as a busy working mom, I have a hard time fitting workouts into my schedule. But I've learned that having fun with exercise can make all the difference. So I've teamed up with trainer Janice Clark to demonstrate two safe, sane, and effective workouts for women of all shapes and sizes." Lisa adds, "If you're an everyday woman like me who isn't looking for rock hard abs but wants to be healthier, stronger, more energetic, and have a looser waistband, follow us and have some fun!" (DVD Single, Approx. 44 min., plus bonus)

Acacia's award-winning fitness instructors are available for interviews. They can offer effective exercises, tips, full workouts, and advice in a wide variety of disciplines.

Acacia, an RLJ Entertainment, Inc. brand, is a leading producer of original and award-winning yoga, fitness, and wellness DVD programming. Acacia's workouts are from TV star and bestselling author Bethenny Frankel, the number one diet and fitness website SparkPeople, exhale spa's bestselling Core Fusion series, Leah Sarago's popular Ballet Body(TM) series, yoga superstar Shiva Rea, master kettlebell instructor Paul Katami, reality TV star Kenya Moore, best-selling author Dr. Vijay Vad's Arthritis Rx, Hilaria Baldwin's Fit Mommy-to-Be Prenatal Yoga, as well as Escape Your Shape: 21-Day Body Makeover, Lisa Whelchel's Everyday Workout for the Everyday Woman, R.I.P.P.E.D. Total Body Challenge, and Power Boxing Workout with Marlen Esparza. www.AcaciaLifestyle.com

RLJ Entertainment, Inc. (RLJE) is a premier independent licensee and distributor of entertainment content and programming in North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (feature films, stand-up comedy), One Village (urban), Acacia (fitness), Slingshot (faith), Athena (documentaries), Criterion (art films) and Madacy (gift sets). These titles are distributed in multiple formats including DVD, Blu-Ray, digital download, digital streaming, broadcast television (including satellite and cable), theatrical and non-theatrical.

Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has direct contacts and billing relationships with millions of consumers.

RLJE leverages its management experience to acquire, distribute, and monetize existing and original content for its many distribution channels, including its nascent branded digital subscription channels, and engages distinct audiences with programming that appeals directly to their unique viewing interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia brands, and owns the recently launched Acorn TV digital subscription service.


Contact:
Press Contact for interviews/DVDs:
Chad Campbell
Publicity Director, RLJ Entertainment, Inc. - Acacia brand
301-608-2115 *138, ccampbell@RLJEntertainment.com

Just in Time for Fitness Season and Staying in Shape Through the Holidays, Award-Winning Fitness DVD Distributor Acacia Releases New High-Intensity Workouts and a Celebrity Beginner Workout
R.I.P.P.E.D. Total Body Challenge, Power Boxing Workout With Olympian Marlen Esparza, and Lisa Whelchel's Everyday Workout for the Everyday Woman
GlobeNewswire RLJ Entertainment, Inc.
December 5, 2013 11:00 AM
SILVER SPRING, Md., Dec. 5, 2013 (GLOBE NEWSWIRE) -- With the weather getting colder and exercisers looking for indoor ways to stay in shape through the food-filled holidays, Acacia, an RLJ Entertainment, Inc. brand, is excited to announce the release of three new DVD workouts -- R.I.P.P.E.D. Total Body Challenge, Power Boxing Workout with Olympian Marlen Esparza, and Lisa Whelchel's Everyday Workout for the Everyday Woman. Whether you've been intimated in the past by workouts like Insanity or P90X, or you're looking for a new challenge, R.I.P.P.E.D. offers a new innovative, high-intensity workout which burns more than 700 calories in just 48 minutes. Next, a breakout star of the 2012 Olympics and America's first female medalist in Olympic boxing, Marlen Esparza offers four high-intensity workouts to help you gain strength, agility, cardio fitness, and mental toughness. Last, the popular Facts of Life star, Survivor runner-up, and mom of three, Lisa Whelchel, created an inspiring and accessible workout for people like her that dislike working out but, as they get older, want to remain healthy and active. The DVDs are available now at Amazon.com, AcaciaLifestyle.com, and select retailers, SRP: $16.99 each. Please visit youtube.com/AcaciaFitness to watch clips from each workout. Press copies are readily available upon request.

R.I.P.P.E.D. Total Body Challenge- Not Extreme, Not Insane, Just R.I.P.P.E.D.

Franchised to more than 8,000 fitness professionals across the country and approved by the American Council on Exercise, this safe, effective, interval-training system delivers amazing results with a scientifically proven, plateau-proof fitness formula to help shape and tone every body. In just five workout segments, plus a warm-up and cool down, you'll burn more than 700 calories in just 48 minutes. The workout was created by fitness power couple Terry and Tina Shorter, who also sing and compose all the addictive original music. With this athletic, musical driven format, you'll stay engaged, time will fly, you'll never get bored, and you'll achieve the strong, fit physique you've always wanted. Whether you're a fitness buff or beginner, you can achieve amazing results with R.I.P.P.E.D. (DVD Single, Approx. 48 min., plus bonus)

Power Boxing Workout with Marlen Esparza, Olympic Medalist

America's first female medalist in Olympic boxing, reigning seven-time USA Boxing National Champion, and motivational speaker Marlen Esparza debuts 4 high-intensity workouts. Ranked #1 in the United States, bronze medalist Marlen shares the unique workout routine that gets her into fighting shape to win competitions all over the world. Given the health and cardiovascular benefits of boxing training, whether you are a boxing fan or a newcomer, Marlen's new workouts will help you get a fit, lean and strong physique. She is also one of the select few that currently live and train at the U.S. Olympic Center in Colorado Springs in preparation for the 2016 Olympic Games. (DVD Single, Approx. 55 min., plus bonus)

Lisa Whelchel's Everyday Workout for the Everyday Woman

With the help of her trainer, Lisa leads these inspiring and accessible workouts geared towards beginners with a friendly, encouraging vibe and modifications for all levels plus personal training tips on proper body alignment, engaging the core, and breathing. The Facts of Life star and Survivor: Philippines fan favorite says, "I'm an everyday woman when it comes to fitness. I know exercise is key for my health and well-being, but I don't always enjoy doing it. And as a busy working mom, I have a hard time fitting workouts into my schedule. But I've learned that having fun with exercise can make all the difference. So I've teamed up with trainer Janice Clark to demonstrate two safe, sane, and effective workouts for women of all shapes and sizes." Lisa adds, "If you're an everyday woman like me who isn't looking for rock hard abs but wants to be healthier, stronger, more energetic, and have a looser waistband, follow us and have some fun!" (DVD Single, Approx. 44 min., plus bonus)

Acacia's award-winning fitness instructors are available for interviews. They can offer effective exercises, tips, full workouts, and advice in a wide variety of disciplines.

Acacia, an RLJ Entertainment, Inc. brand, is a leading producer of original and award-winning yoga, fitness, and wellness DVD programming. Acacia's workouts are from TV star and bestselling author Bethenny Frankel, the number one diet and fitness website SparkPeople, exhale spa's bestselling Core Fusion series, Leah Sarago's popular Ballet Body(TM) series, yoga superstar Shiva Rea, master kettlebell instructor Paul Katami, reality TV star Kenya Moore, best-selling author Dr. Vijay Vad's Arthritis Rx, Hilaria Baldwin's Fit Mommy-to-Be Prenatal Yoga, as well as Escape Your Shape: 21-Day Body Makeover, Lisa Whelchel's Everyday Workout for the Everyday Woman, R.I.P.P.E.D. Total Body Challenge, and Power Boxing Workout with Marlen Esparza. www.AcaciaLifestyle.com

RLJ Entertainment, Inc. (RLJE) is a premier independent licensee and distributor of entertainment content and programming in North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (feature films, stand-up comedy), One Village (urban), Acacia (fitness), Slingshot (faith), Athena (documentaries), Criterion (art films) and Madacy (gift sets). These titles are distributed in multiple formats including DVD, Blu-Ray, digital download, digital streaming, broadcast television (including satellite and cable), theatrical and non-theatrical.

Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has direct contacts and billing relationships with millions of consumers.

RLJE leverages its management experience to acquire, distribute, and monetize existing and original content for its many distribution channels, including its nascent branded digital subscription channels, and engages distinct audiences with programming that appeals directly to their unique viewing interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia brands, and owns the recently launched Acorn TV digital subscription service.


Contact:
Press Contact for interviews/DVDs:
Chad Campbell
Publicity Director, RLJ Entertainment, Inc. - Acacia brand
301-608-2115 *138, ccampbell@RLJEntertainment.com

RLJ Entertainment Reports Financial Results for the Third Quarter Ended September 30, 2013

RLJ Entertainment, Inc. November 7, 2013 9:49 AM

SILVER SPRING, Md., Nov. 7, 2013 (GLOBE NEWSWIRE) -- RLJ Entertainment Inc., ("RLJ Entertainment" or "the Company") (RLJE), today reported results for the third quarter ended September 30, 2013. Full detail of the financial results as well as Management Discussion and Analysis, or MD&A, can be found in the Company's Form 10-Q filed with the SEC.

RLJ Entertainment is a leading creator, owner and distributor of media content across digital, broadcast and physical platforms. The Company leverages its branding expertise, access to content and direct to consumer skills to optimize the value of its programs for distinct audiences. RLJ Entertainment was formed in October 2012 through the business combination of RLJ Acquisition, Inc., Image Entertainment, Inc. and Acorn Media Group, Inc.

RLJ Entertainment is focused on driving growth through the development of interest-based entertainment services for targeted audiences in niche genres including British drama and mystery, urban, action/thriller, and fitness, by using new technologies to deliver that content to consumers.

Robert L. Johnson, Chairman of RLJ Entertainment stated, "The business continued to perform on plan this quarter and I am pleased to see the results of management's focus on driving greater efficiencies across all areas of the business. With a capital reallocation strategy that will more effectively maximize the Company's cash flow combined with strategic cost savings, the business is well positioned to execute on its strategic growth plan and to build shareholder value."

GAAP Financial Results

The financial results for the three and nine months ended September 30, 2013 reflect the operating activities of RLJ Entertainment and its subsidiaries (referred to as the "successor" period). The results for the three and nine months ended September 30, 2012 reflect the operations of only the Acorn Media and its subsidiaries (referred to as the "predecessor" period). The comparative discussion below for these periods is based on Generally Accepted Accounting Principles in the United States (or U.S. GAAP) and the results for the 2012 predecessor periods are not indicative of, or comparable to, results for the 2013 successor periods.

The Company has included in this release an extensive discussion and presentation of pro forma information in order to assist investors' understanding of the Company's ability to generate cash and grow and meet its financial commitments. The Company will not necessarily present this same level of disclosure on an ongoing basis.

GAAP Financial Results

Based on the consolidated financial statements as presented in the Company's Form 10-Q for the three months ended September 30, 2013, net revenue increased $12.2 million to $32.7 million. Net revenue for the nine months ended September 30, 2013 increased $49.9 million to $107.3 million.

Net loss for the three months ended September 30, 2013 totaled $8.5 million, compared to net loss of $482,000 for the three months ended September 30, 2012. For the nine months ended September 30, 2013, net loss totaled $29.0 million, compared to net loss of $194,000 for the nine months ended September 30, 2012.

Miguel Penella, Chief Executive Officer of RLJ Entertainment, commented:

"I am pleased with the direction of the business in the third quarter as we continued to strengthen our content investment strategy through capital reallocation and securing additional cost savings. These initiatives led to year over year EBITDA growth, even on a lower base of revenue, underscoring the efficiencies that we are driving in the business. Going forward, I am confident that we are making the right decisions to establish a solid video entertainment platform and distribution strategy that positions the business for long term growth."

Proforma Financial Results

The Company is presenting financial information for the three and nine month's ended September 30, 2013 and pro forma financial information for three and nine months ended September 30, 2012 due to the closing of the business combination among RLJ Entertainment, Image Entertainment and Acorn Media on October 3, 2012. Unaudited pro forma financial information reflects the 2012 operating results of RLJ Entertainment as if Image Entertainment and Acorn Media were acquired as of the beginning of 2012. These combined results are not necessarily indicative of the results that may have been achieved had the combined companies been combined as of such date or period, or of RLJ Entertainment's future operating results.

For the three months ended September 30, 2013, RLJ Entertainment net revenue declined $6.4 million to $32.7 million compared to pro forma net revenue of $39.1 million for the three months ended September 30, 2012. The decrease in revenue was primarily driven by a decrease in the Company's wholesale distribution segment as follows: (i) the timing release of one high-profile title ("The Tall Man") released in 2012 with no equivalent release in 2013 (the Company has three high-profile titles releasing in the fourth quarter of 2013 consisting of "The Colony," "Paradise" and "Doc Martin 6"), (ii) a significant reduction in rebates and sales return reserves in 2012 that did not repeat in the same quarter of the current year, and (iii) higher than expected returns from a former U.S. distribution partner, which was terminated in the second quarter of 2013, and from the Company's Canadian distributor.

Partially offsetting the declines in revenue for the three months ended September 30, 2013 was growth in both the Company's direct-to-consumer segment, which increased 7.7% or $549,000 for the quarter, and the Company's UK wholesale distribution business, which increased 12.6% or $283,000. The Company experienced growth in its proprietary network, Acorn TV. As of October 31, 2013, the pay subscribers for Acorn TV have grown by 100% to over 40,000 compared to December 2012.

For the nine months ended September 30, 2013, RLJ Entertainment net revenue declined $13.8 million to $107.3 million compared to pro forma net revenue of $121.2 million for the nine months ended September 30, 2012. The decline was driven by a decrease in the Company's wholesale distribution segment, primarily within the US market, due to: (i) the full release of five high-profile releases in 2012 ("The Double," "All Things Fall Apart," "Beneath the Darkness," "The Tall Man," and "Doc Martin 5") versus only two high-profile releases in 2013 year-to-date ("The Numbers Station" and "Day of the "Falcon"), (ii) a significant reduction in rebates and sales return reserves in 2012 that did not repeat in the current year, and (iii) higher than expected sales returns from a former distributor and from the Company's Canadian distributor. These declines were partially offset by solid growth in both our direct-to-consumer segment, which increased 9.6% or $2.1 million for the nine months ended, and our UK wholesale distribution business, which grew $7.3 or $546,000 year-to-date versus the same period for the prior year. The Company experienced growth in its proprietary network, Acorn TV. Acorn TV contributed $485,000 in increased revenues for the nine months ended September 2013.

Adjusted EBITDA increased $8.3 million to $3.7 million for the three months ended September 30, 2013, compared to the same period in 2012. The increase in Adjusted EBITDA for the three months ended September 30, 2013, is primarily attributable to reduced expenditures for investments in content. In 2012, the Company made significant expenditures related to its production of Foyle's War 8, which was released in the first quarter of 2013. The Company is now just starting preproduction for Foyle's War 9.

Adjusted EBITDA decreased $5.3 million to $1.2 million for the nine months ended September 30, 2013, as compared to the prior year period. The decline in Adjusted EBITDA for the nine months ended September 30, 2013 primarily relates to significant charges recorded by the Company in COGS related to the early termination of a multi-year content output arrangement with a content supplier in the second quarter of 2013. The impact of this management decision contributed to the total inventory impairment of $6.2 million recognized during the nine months ended September 2013.

Adjusted EBITDA is a non-GAAP financial measure. See below for a reconciliation to U.S. GAAP.

RLJ Entertainment, Inc. (RLJE) is a premier independent licensee and distributor of entertainment content and programming in North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (stand-up comedy, feature films), One Village (urban), Acacia (fitness), Slingshot (faith), Athena (educational), Criterion (art films) and Madacy (gift sets). These titles are distributed in multiple formats including DVD, Blu-Ray, digital download, digital streaming, broadcast television (including satellite and cable), theatrical and non-theatrical.

Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has direct contacts and billing relationships with millions of consumers.

RLJE leverages its management experience to acquire, distribute, and monetize existing and original content for its many distribution channels, including its nascent branded digital subscription channels, and engages distinct audiences with programming that appeals directly to their unique viewing interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia brands, and owns the recently launched Acorn TV digital subscription service.

Forward Looking Statements

This press release may include "forward looking statements" within the meaning of the "safe harbor" provisions of the United Stated Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Investors are cautioned that such forward looking statements with respect to revenues, earnings, EBITDA, performance, strategies, prospects and other aspects of the business of RLJ Entertainment is based on current expectations that are subject to risks and uncertainties.

A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: (1) RLJ Entertainment's ability to integrate the businesses of Image Entertainment, Inc. and Acorn Media Group, Inc.; (2) the inability of RLJ Entertainment to fully realize the anticipated benefits of the business combination with Image Entertainment, Inc. and Acorn Media Group, Inc. or such benefits taking longer to realize than expected; (3) the ability of RLJ Entertainment's officers and directors to generate a number of potential investment opportunities; (4) RLJ Entertainment's ability to maintain relationships with customers, employees, suppliers and lessors; (5) the loss of key personnel; (6) delays in the release of new titles or other content; (7) the effects of disruptions in RLJ Entertainment's supply chain; (8) the limited liquidity and trading of RLJ Entertainment's public securities; (9) RLJ Entertainment's financial performance, including the ability of RLJ Entertainment to achieve revenue growth and EBITDA margins or realize synergies; (10) the possibility that RLJ Entertainment may be adversely affected by other economic, business, and/or competitive factors; (11) the need for additional capital and the availability of financing; (12) technological changes; (13) pricing and availability of products and services; (14) demand for RLJ Entertainment's products and services; (15) the ability to leverage and monetize content; and (16) other risks and uncertainties indicated from time to time in filings with the SEC by RLJ Entertainment.

Readers are referred to the most recent reports filed with the SEC by RLJ Entertainment. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

RLJ ENTERTAINMENT, INC.
CONDENSED Consolidated Balance Sheets
(unaudited)
September 30, 2013 and December 31, 2012

Successor
(In thousands, except share data) September 30, December 31,

2013 2012
ASSETS


Current assets:


Cash and cash equivalents $ 2,630 $ 4,739
Accounts receivable, net 12,148 20,484
Inventories, net 16,718 23,029
Investments in content, net 36,600 30,981
Prepaid expenses and other assets 3,097 1,938
Total current assets 71,193 81,171
Noncurrent portion of accounts receivable 3,250 4,127
Noncurrent portion of investments in content 46,441 58,816
Property, equipment and improvements, net 1,576 1,800
Equity investment in affiliates 24,269 25,449
Other intangible assets 20,144 23,883
Goodwill 47,066 47,382
Total assets $ 213,939 $ 242,628
LIABILITIES AND EQUITY


Current liabilities:


Accounts payable and accrued liabilities $ 23,322 $ 30,590
Accrued royalties and distribution fees 38,491 32,658
Deferred revenue 5,747 4,339
Current portion of long term debt 15,040 4,000
Total current liabilities 82,600 71,587
Long term portion of debt, less debt discount 63,858 78,323
Deferred tax liability 350 350
Stock warrant liability 7,406 4,324
Total liabilities 154,214 154,584
Equity:


Common stock, $0.001 par value, 250 million shares authorized,


13,700,862 and 13,377,546 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively 13 13
Additional paid-in capital 86,596 86,133
Retained earnings (deficit) (27,267) 1,743
Accumulated other comprehensive gain 383 155
Total equity 59,725 88,044
Total liabilities and equity $ 213,939 $ 242,628



RLJ ENTERTAINMENT, INC.
Consolidated Statements of Operations
(unaudited)
For the Three and Nine Months Ended September 30, 2013 and 2012







Successor Predecessor
(In thousands, except per share data) Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended

September 30, September 30, September 30, September 30,

2013 2013 2012 2012
Revenue $ 32,741 $ 107,333 $ 20,568 $ 57,447
Cost of sales 24,747 88,627 12,149 31,633
Gross profit 7,994 18,706 8,419 25,814






Selling expenses 6,397 18,046 4,388 11,063
General and administrative expenses 4,560 16,827 4,955 14,607
Depreciation and amortization 1,388 4,308 137 398
Total selling, general and administrative expenses 12,345 39,181 9,480 26,068
LOSS FROM OPERATIONS (4,351) (20,475) (1,061) (254)






Equity earnings of affiliates 1,364 2,924 462 983
Interest expense, net (2,019) (6,027) (261) (838)
Other income (expense) (2,832) (3,751) 501 118
Total other income (expense) (3,487) (6,854) 702 263
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES (7,838) (27,329) (359) 9
Provision for income taxes 670 1,681 123 203
NET LOSS (8,508) (29,010) (482) (194)
Less (net income) loss attributable to noncontrolling interests — — 13 (43)
NET LOSS APPLICABLE TO COMMON SHAREHOLDERS $ (8,508) $ (29,010) $ (469) $ (237)
Net loss per common share:










Unrestricted common stock:




Basic and diluted $ (0.62) $ (2.15) $ (0.46) $ (0.23)
Restricted common stock:




Basic and diluted $ (0.62) $ (2.15) $ — $ —






Unrestricted weighted average shares outstanding:




Basic and diluted 13,340 13,340 1,023 1,023
Restricted weighted average shares outstanding:




Basic and diluted 292 127 — —



RLJ ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(unaudited)
For the Three and Nine Months Ended September 30, 2013 and 2012







Successor Predecessor
(In thousands) Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended

September 30, September 30, September 30, September 30,

2013 2013 2012 2012





NET LOSS:




Net loss $ (8,508) $ (29,010) $ (482) $ (194)
Other comprehensive income (loss):




Foreign currency translation gain 803 228 151 295
Total comprehensive income (loss) (7,705) (28,782) (331) 101
Less: comprehensive income (loss) attributable to noncontrolling interests:




Share of net income (loss) — — (13) 43
Share of foreign currency translation gain — — 42 37
Comprehensive income attributable to noncontrolling interest — — 29 80
Comprehensive income (loss) attributable to common shareholders $ (7,705) $ (28,782) $ (360) $ 21



RLJ ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF EQUITY
(unaudited)


For the Nine Months Ended September 30, 2013 (Successor)
Common Stock


Accumulated



(In thousands) Shares Par
Value Additional Paid-
in Capital Stockholder
Notes
Receivable Retained
Earnings
(Deficit) Other
Comprehensive
Gain Treasury
Stock Non-
controlling
Interests Total
Equity
Balance at January 1, 2013 13,378 $ 13 $ 86,133 $ — $ 1,743 $ 155 $ — $ — $ 88,044
Issuance of restricted common stock for services 323 — — — — — — — —
Stock-based compensation — — 463 — — — — — 463
Foreign currency translation — — — — — 228 — — 228
Net loss — — — — (29,010) — — — (29,010)
Balance at September 30, 2013 13,701 $ 13 $ 86,596 $ — $ (27,267) $ 383 $ — $ — $ 59,725



For the Nine Months Ended September 30, 2012 (Predecessor)
Common Stock


Accumulated



(In thousands) Shares Par
Value Additional Paid-
in Capital Stockholder
Notes
Receivable Retained
Earnings Other
Comprehensive
Loss Treasury
Stock Non-
controlling
Interests Total
Equity
Balance at January 1, 2012 1,023 $ 10 $ 4,451 $ (684) $ 26,295 $ (421) $ (583) $ 759 $ 29,827
Stock-based compensation — — 373 — — — — — 373
Foreign currency translation — — — — — 258 — 37 295
Net income — — — — (237) — — 43 (194)
Stockholders' Distributions — — — — (4,879) — — (265) (5,144)
Balance at September 30, 2012 1,023 $ 10 $ 4,834 $ (684) $ 21,179 $ (163) $ (583) $ 574 $ 25,157



RLJ ENTERTAINMENT, INC.
Consolidated Statements of Cash Flows
(unaudited)
For the Nine Months Ended September 30, 2013 and 2012

(In thousands) Successor Predecessor
2013 2012
CASH FLOWS FROM OPERATING ACTIVITIES:


Net loss $ (29,010) $ (194)
Adjustments to reconcile net loss to net cash:


Equity earnings in affiliates (2,924) (983)
Amortization of content, including impairments 50,535 11,412
Depreciation and amortization 510 339
Amortization of intangible assets 3,798 59
Foreign currency exchange loss/(gain) 706 (310)
Fair value adjustment of stock warrant liability 3,082 —
Noncash interest expense 750 —
Stock-based compensation expense 463 373
Changes in assets and liabilities:


Accounts receivable, net 9,151 3,487
Inventories, net 6,308 (244)
Investment in content, net (38,276) (18,935)
Prepaid expenses and other assets (361) (1,137)
Accounts payable and accrued liabilities (7,617) 877
Deferred revenue 1,403 —
Net cash used in operating activities (1,482) (5,256)
CASH FLOWS FROM INVESTING ACTIVITIES:


Capital expenditures (350) (505)
Acquisition of affiliate — (21,871)
Dividends received from affiliate 4,005 2,682
Net cash provided by (used in) investing activities 3,655 (19,694)
CASH FLOWS FROM FINANCING ACTIVITIES:


Borrowings under revolving credit facility 10,398 6,167
Repayments of borrowings under revolving credit facility (3,000) —
Proceeds from debt 191 27,511
Repayment of debt (11,452) (3,502)
Distributions to stockholders — (5,144)
Net cash provided by (used in) financing activities (3,863) 25,032
Effect of exchange rate changes on cash (419) (198)
NET DECREASE IN CASH: (2,109) (116)
Cash at beginning of period 4,739 1,625
Cash at end of period $ 2,630 $ 1,509
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:


Cash paid during the period for:


Interest $ 4,183 $ 659
Income taxes $ 539 $ 727

RLJ ENTERTAINMENT, INC.

Unaudited pro forma financial information reflects the operating results of RLJE as if Image and Acorn Media were acquired as of the periods indicated. These combined results are not necessarily indicative of the results that may have been achieved had the combined companies been combined as of such dates or periods, or of our future operating results.

Management believes Adjusted EBITDA to be a meaningful indicator of our performance that provides useful information to investors regarding our financial condition and results of operations because it removes material noncash items that allows investors to analyze the operating performance of the business using the same metric management uses. The exclusion of noncash items better reflects our ability to make investments in the business and meet obligations. Presentation of Adjusted EBITDA is a non-GAAP financial measure commonly used in the entertainment industry and by financial analysts and others who follow the industry to measure operating performance. The Company uses this measure to assess operating results and performance of its business, perform analytical comparisons, identify strategies to improve performance and allocate resources to its business segments. While management considers Adjusted EBITDA to be important measures of comparative operating performance, it should be considered in addition to, but not as a substitute for, net income and other measures of financial performance reported in accordance with GAAP. Not all companies calculate Adjusted EBITDA in the same manner and the measure as presented may not be comparable to similarly-titled measures presented by other companies.

The following unaudited pro forma financial information for the three and nine months ended September 30, 2013 and 2012 reflects the operating results of RLJE as if Image and Acorn Media were acquired as of January 1, 2012. The unaudited pro forma financial information does not include adjustments for Business Combination transaction costs and severance incurred and other one-time expenses, nor does it include adjustments for synergies. These combined results are not necessarily indicative of the results that may have been achieved had the companies been combined as of such historical dates or periods, or of RLJE's future operating results.

Proforma Income Statement
(unaudited)


For the Three and Nine Months Ended September 30, 2013 and 2012



Three Months Ended Nine Months Ended

September 30, September 30,
(In thousands) 2013 2012 2013 2012

Actual Proforma (1) Actual Proforma (1)
Revenues $ 32,741 $ 39,152 $ 107,333 $ 121,161
Costs of sales 24,747 27,007 88,627 85,206
Gross profit 7,994 12,145 18,706 35,955
Selling, general and administrative expenses 12,345 16,202 39,181 45,961
Loss from operations (4,351) (4,057) (20,475) (10,006)
Equity earnings of affiliates 1,364 294 2,924 1,318
Interest expense, net (2,019) (1,938) (6,027) (5,814)
Other income (expense) (2,832) 675 (3,751) 2,450
Provision for income taxes (670) (123) (1,681) (46)
Net loss $ (8,508) $ (5,149) $ (29,010) $ (12,098)






Adjusted EBITDA $ 3,717 $ (4,547) $ 1,179 $ 6,503






Notes to the Proforma Income Statement Table:
(1) An adjustment for interest expense has been made to the prior year three and nine month ended September 30, 2012 as if the existing debt was in place throughout the period.

The following table includes the reconciliation of our consolidated Adjusted EBITDA to consolidated U.S. GAAP net loss:


Three Months Ended
September 30, Nine Months Ended
September 30,
(In thousands) 2013 2012 2013 2012

Actual Proforma Actual Proforma

Net loss $ (8,508) $ (5,149) $ (29,010) $ (12,098)






Amortization of content 13,947 15,513 50,535 49,508
Cash investment in content (10,346) (21,756) (38,276) (50,163)
Depreciation and amortization 1,388 1,413 4,308 4,246
Interest expense 2,019 1,938 6,027 5,814
Provision for income tax 670 123 1,681 46
Transactions costs and severance 351 2,901 2,369 7,786
Warrant liability fair value adjustment 3,884 — 3,082 —
Stock-based compensation 312 470 463 1,364
Adjusted EBITDA $ 3,717 $ (4,547) $ 1,179 $ 6,503







Contact:
Sloane & Company
Erica Bartsch, 212-446-1875
ebartsch@sloanepr.com
Traci Otey Blunt, 240-744-7858
The RLJ Companies
press@rljcompanies.com

U.S. Premiere of DOC MARTIN, Series 6 Exclusively on Acorn TV Beginning October 7th
GlobeNewswirePress Release: RLJ Entertainment, Inc. – 23 hours ago
Email

"Best British TV" Streaming Service Debuts the Highly Anticipated New Season of the #1 Dramedy Only a Month After Its UK Premiere
Acorn TV is Also Featuring the Premieres of the Newest Seasons of Hit Detective Dramas VERA Starring Two-Time Oscar(R) Nominee Brenda Blethyn and ABOVE SUSPICION Starring Kelly Reilly and Ciaran Hinds
SILVER SPRING, Md., Sept. 18, 2013 (GLOBE NEWSWIRE) -- RLJ Entertainment's (RLJE) Acorn TV, the first streaming service focused on the best of British TV in North America, announces the exclusive U.S. premiere of Doc Martin, Series 6 beginning on October 7, 2013. Called "completely addictive" (Slate) and "absolutely bloody hilarious" (London Evening Standard), Doc Martin, starring BAFTA winner Martin Clunes (Men Behaving Badly, Shakespeare in Love), is Acorn's newest best-selling series and, after Downton Abbey, is the biggest success story on public television in recent years. In the U.K., Doc Martin is ITV's highest-rated drama series with more than 10 million viewers, while in the U.S. it's the #1 series on many public television stations and has millions of viewers across the country. The series is also a global phenomenon having sold to more than 70 countries, with licensed local versions in France, Germany, Spain, Russia, among many more. Available at www.Acorn.TV and via its popular Roku channel, Acorn TV begins exclusively streaming Series 6 on Monday, October 7, with a new episode added each Monday through the season final on November 25. Currently, Acorn TV has all previous episodes readily available for catch-up viewing.
Though the U.S. premiere of most British series are several months after their initial British broadcast, Acorn TV can greatly reduce the broadcast window and offer Series 6 only one month after its season premiere on ITV in the U.K. In the U.S., Series 6 will not begin airing on public television until February 2014 or be available on DVD until March 25, 2014, so Acorn TV has a four month exclusive window.
Doc Martin stars Martin Clunes in an uproarious lead performance as a tactless, self-centered, and uptight doctor. After hotshot London surgeon Martin Ellingham develops a crippling fear of blood, he reluctantly becomes the lone doctor in a quirky seaside town, where he quickly offends the eccentric villagers with his dour and dismissive bedside manner. Series 6 features the highly anticipated wedding of Martin and Louisa (Caroline Catz, Murder in Suburbia).
On Oct. 7th, Acorn TV will also add the U.S. premieres of Vera, Series 3, called "one of the best mysteries... in the last decade" (The Baltimore Sun), and Above Suspicion, Set 3, called "the most talked about cop show on British TV since Prime Suspect" (BestBritishTV). In Vera, two-time Oscar(R) nominee Brenda Blethyn (Secrets & Lies, Pride & Prejudice) stars as Vera Stanhope—a brilliant police detective with a disheveled exterior, a sharp tongue, and an uncanny ability to solve crimes. Above Suspicion is based on the bestselling novels by Lynda La Plante (Prime Suspect) and stars Kelly Reilly (Flight, Sherlock Holmes feature films) as a young detective trying to prove herself with Ciaran Hinds (Tinker Tailor Soldier Spy, Game of Thrones) as her flawed and charismatic boss. Acorn TV is also adding the U.S. premiere of Joanna Lumley's Greek Odyssey documentary as well as The Broker's Man starring Kevin Whately (Inspector Lewis) and The Last Detective starring Peter Davison (Dr. Who).
Miguel Penella, Chief Executive Officer of RLJ Entertainment, Inc., said, "Doc Martin is a perfect example of the kind of hugely popular British content that we are excited to exclusively offer Acorn TV's subscribers. There are millions of British drama, comedy, and mystery fans in the U.S., so we're thrilled to offer more exclusive content and shorter timeframes between when programs air in their home country and the U.S."
Currently, Acorn TV features a catalog of more than 70 series for catch-up viewing and discovery of new series, with no set end dates. In September, Acorn TV added the U.S. premiere of Murdoch Mysteries, Season 6, a hit period detective series, as well as all 22 previous episodes of Foyle's War. Additionally, the three new Foyle's War episodes are being added the day after they premiere on MASTERPIECE Mystery! on PBS. Acorn TV also features all previous episodes of many popular British series, including George Gently, Midsomer Murders, The Forsyte Saga starring Damian Lewis (Homeland), iconic miniseries I, Claudius, as well as more than 50 episodes of Agatha Christie's Poirot and the U.S. premiere of Jack Irish starring Guy Pearce.
Called the "chief curators of the best Brit TV" by TIME magazine, RLJ Entertainment's Acorn brand holds exclusive North American distribution rights to the most critically acclaimed British programs, which are available for streaming on Acorn TV and from Acorn in lavishly packaged DVDs/Blu-rays. RLJ Entertainment also manages the literary estate of Agatha Christie, the best-selling novelist of all time, and owns the hugely popular period detective series Foyle's War.
Full access to Acorn TV is available to press upon request.
To watch Acorn TV via computers, iPhones, iPads, etc.: www.Acorn.TV
To add the Acorn TV channel on your Roku: https://owner.roku.com/add/acorntv
About Acorn TV
Available at www.Acorn.TV, Acorn TV is the first British TV focused streaming service in North America. Given the limited broadcast options for U.S. viewers to watch first rate international programs, Acorn TV offers U.S. fans the opportunity to not only stream many of their favorite series but, more importantly, discover new and classic programs previously unavailable to U.S. audiences. Acorn TV offers a free 30-day trial and thereafter is just $4.99/month or $49.99/year. Acorn TV subscribers also receive free shipping on all orders from Acorn's catalog and website, AcornOnline.com. Launched in July 2011, Acorn TV is accessible on the #1 streaming player, Roku, as well as computers, and through the browsers on iPhones and iPads. It is also available on many other portable devices.
RLJ Entertainment, Inc. (RLJE) is a premier independent licensee and distributor of entertainment content and programming in North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (feature films, stand-up comedy), One Village (urban), Acacia (fitness), Slingshot (faith), Athena (documentaries), Criterion (art films) and Madacy (gift sets). These titles are distributed in multiple formats including DVD, Blu-Ray, digital download, digital streaming, broadcast television (including satellite and cable), theatrical and non-theatrical.
Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has direct contacts and billing relationships with millions of consumers.
RLJE leverages its management experience to acquire, distribute, and monetize existing and original content for its many distribution channels, including its nascent branded digital subscription channels, and engages distinct audiences with programming that appeals directly to their unique viewing interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia brands, and owns the recently launched Acorn TV digital subscription service.

Contact:
RLJ Entertainment, Chad Campbell,
301.608.2115 *138, ccampbell@rljentertainment.com

RLJ Entertainment Reports Financial Results for the Second Quarter Ended June 30, 2013
GlobeNewswirePress Release: RLJ Entertainment, Inc. – Mon, Aug 5, 2013 8:30 AM EDT..

SILVER SPRING, Md., Aug. 5, 2013 (GLOBE NEWSWIRE) -- RLJ Entertainment Inc., ("RLJ Entertainment" or "the Company") (RLJE), today reported results for the second quarter ended June 30, 2013. Full detail of the financial results as well as Management Discussion and Analysis, or MD&A, can be found in the Company's Form 10-Q filed with the SEC.

RLJ Entertainment is a leading creator, owner and distributor of media content across digital, broadcast and physical platforms. The company leverages its branding expertise, access to content and direct to consumer skills to optimize the value of its programs for distinct audiences. RLJ Entertainment was formed in October 2012 through the business combination of RLJ Acquisition, Inc., Image Entertainment, Inc. and Acorn Media Group, Inc.

RLJ Entertainment is focused on driving growth through the development of interest-based entertainment services for targeted audiences in niche genres including British drama and mystery, urban, action/thriller, fitness and faith, by using new technologies to deliver that content to consumers.

Robert L. Johnson, Chairman of RLJ Entertainment stated, "We continue to make solid progress integrating the Acorn and Image businesses and I am pleased with management's hard work to date to refine the growth strategy and its content investment approach. The team is highly focused on positioning RLJ Entertainment for growth over the long-term, which includes investing in a targeted portfolio of content offerings and leveraging a strong set of traditional and digital distribution channels, particularly in the US and UK. To support these efforts, Miguel Penella and I have made several key appointments over the last few months, including Drew Wilson, our CFO, and Nina Henderson Moore, President of our Urban Digital Channel, 'OnCue'. I firmly believe we now have the right executive team in place to build an exciting content company that satisfies increasing consumer demand for unique, quality content across multiple platforms."

GAAP Financial Results

The financial results for the three and six months ended June 30, 2013 reflect the operating activities of RLJ Entertainment and its subsidiaries (referred to as the "successor" period). The results for the three and six months ended June 30, 2012 reflect the operations of only the Acorn Media and its subsidiaries businesses (referred to as the "predecessor" period). The comparative discussion below for these periods is based on Generally Accepted Accounting Principles (or GAAP) and the results for the 2012 predecessor periods are not indicative of, or comparable to, results for the 2013 successor periods.

The Company has included in this release an extensive discussion and presentation of pro forma information in order to assist investors' understanding of the company's ability to generate cash and grow and meet its financial commitments. The Company will not necessarily present this same level of disclosure on an ongoing basis.

GAAP Financial Results

Based on the consolidated financial statements as presented in the Company's Form 10-Q for the three months ended June 30, 2013, net revenue increased $17.0 million to $34.3 million. Net revenue for the six months ended June 30, 2013 increased $37.7 million to $74.6 million.

Net loss for the three months ended June 30, 2013 totaled $16.9 million, compared to net loss of $554,000 in three months ended June 30, 2012. For the six months ended June 30, 2013 net loss totaled $20.5 million, compared to net income of $288,000 in the six months ended June 30, 2012.

Miguel Penella, Chief Executive Officer of RLJ Entertainment, commented:

"Our results during the second quarter reflect the continued successful execution of our business strategy and the progress we have made bringing together Acorn and Image. We remain highly focused on identifying synergies derived from the merger of the two companies, securing additional cost savings, refining and strengthening our content investment strategy through capital reallocation, and improving our balance sheet. While these efforts have impacted our financial results in the quarter, we are confident that the steps we are taking will solidify further growth opportunities, clarify the RLJ Entertainment investment thesis, and enable us to achieve our long-term financial targets."

Proforma Financial Results

The Company is presenting financial information for the three and six month's ended June 30, 2013 and pro forma financial information for three and six months ended June 30, 2012 due to the closing of the business combination among RLJ Entertainment, Image Entertainment and Acorn Media on October 3, 2012. Unaudited pro forma financial information reflects the operating results of RLJ Entertainment as if Image Entertainment and Acorn Media were acquired as of the periods indicated. These combined results are not necessarily indicative of the results that may have been achieved had the combined companies been combined as of such dates or periods, or of RLJ Entertainment's future operating results.

For the three months ended June 30, 2013, RLJ Entertainment net revenue declined $6.3 million to $34.3 million compared to pro forma net revenue of $40.6 million in the three months ended June 30, 2012. The decline in net revenue is primarily attributable to the timing of certain title releases between quarters and a significant one-time transaction related to management's planned execution of synergies to consolidate fulfillment partners. Management believes that the consolidation will position the Company for future costs savings by combining, at scale, all of its operations under a single distribution and fulfillment partner. In addition, Image gross sales increased by 4.0% but were offset by increased price rebate and return reserves for the three months ended June 30, 2013 compared to the three months ended 2012. Image's 2012 revenues included a significant reduction in rebates and sales returns reserves that did not repeat in the three months ended June 30, 2013.

For the six months ended June 30, 2013, RLJ Entertainment net revenue declined $7.4 million to $74.6 million compared to pro forma net revenue of $82.0 million for the six months ended June 30, 2012. Results were primarily attributable to the timing of certain title releases between quarters and a significant one-time transaction related to the planned execution of synergies to consolidate fulfillment partners in the second quarter of 2013, as explained above. Acorn revenue increased 12% in the six months ended June 30, 2013 versus the prior year primarily due to the release of "Foyle's War 8" offset by the Image revenue decline resulting from the timing of three high-profile titles in 2012, "The Double," "All Things Fall Apart" and "Beneath the Darkness" that performed at or above expectations compared to two high-profile titles, "The Numbers Station" and "Day of the Falcon in 2013."

Adjusted EBITDA decreased $12.1 million for the three months ended June 30, 2013, compared to the same period in 2012. The decline in Adjusted EBITDA was primarily attributable to significant charges the company recorded in COGS and SG&A related to (a) finished goods inventory impairment charge ($3.2 million) from the early termination of a content output agreement, (b) finished goods inventory write-down ($1.5 million) associated with the Madacy line and other obsolete hard goods inventory and (c) the recording of minor asserted legal claims of $0.5 million. Additionally, the decrease in Adjusted EBITDA was partly driven by (i) the decline in revenue for the quarter versus prior year resulting from the timing of key title releases ($4 million) and (ii) the impact of a single wholesale return transaction in the quarter resulting from management's consolidation of a fulfillment partner. The sales return had a $1.1 million in Adjusted EBITDA negative impact. We expect the returned inventory to be resold at normal pricing in upcoming quarters.

Adjusted EBITDA decreased $13.6 million for the six months ended June 30, 2013, as compared to the prior year. The decline in Adjusted EBITDA for the six months ended June 30, 2013 primarily relates to items discussed above in the three months ended June 30, 2013 Adjusted EBITDA variance along with the impact of increased foreign currency loss of $1.4 million during the six months ended June 30, 2013.

RLJ Entertainment, Inc. (RLJE) is a premier independent licensee and distributor of entertainment content and programming in North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (stand-up comedy, feature films), One Village (urban), Acacia (fitness), Slingshot (faith), Athena (educational), Criterion (art films) and Madacy (gift sets). These titles are distributed in multiple formats including DVD, Blu-Ray, digital download, digital streaming, broadcast television (including satellite and cable), theatrical and non-theatrical.

Via its relationship with Agatha Christie Limited, a company that RLJE owns 64% of, RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has direct contacts and billing relationships with millions of consumers.

RLJE leverages its management experience to acquire, distribute, and monetize existing and original content for its many distribution channels, including its nascent branded digital subscription channels, and engages distinct audiences with programming that appeals directly to their unique viewing interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia brands, and owns the recently launched Acorn TV digital subscription service.

Forward Looking Statements

This press release may include "forward looking statements" within the meaning of the "safe harbor" provisions of the United Stated Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Investors are cautioned that such forward looking statements with respect to revenues, earnings, EBITDA, performance, strategies, prospects and other aspects of the business of RLJ Entertainment is based on current expectations that are subject to risks and uncertainties.

A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: (1) RLJ Entertainment's ability to integrate the businesses of Image Entertainment, Inc. and Acorn Media Group, Inc.; (2) the inability of RLJ Entertainment to fully realize the anticipated benefits of the business combination with Image Entertainment, Inc. and Acorn Media Group, Inc. or such benefits taking longer to realize than expected; (3) the ability of RLJ Entertainment's officers and directors to generate a number of potential investment opportunities; (4) RLJ Entertainment's ability to maintain relationships with customers, employees, suppliers and lessors; (5) the loss of key personnel; (6) delays in the release of new titles or other content; (7) the effects of disruptions in RLJ Entertainment's supply chain; (8) the limited liquidity and trading of RLJ Entertainment's public securities; (9) RLJ Entertainment's financial performance, including the ability of RLJ Entertainment to achieve revenue growth and EBITDA margins or realize synergies; (10) the possibility that RLJ Entertainment may be adversely affected by other economic, business, and/or competitive factors; (11) the need for additional capital and the availability of financing; (12) technological changes; (13) pricing and availability of products and services; (14) demand for RLJ Entertainment's products and services; (15) the ability to leverage and monetize content; and (16) other risks and uncertainties indicated from time to time in filings with the SEC by RLJ Entertainment.

Readers are referred to the most recent reports filed with the SEC by RLJ Entertainment. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.





RLJ ENTERTAINMENT, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
June 30, 2013 and December 31, 2012


ASSETS Successor
(In thousands, except share data) June 30, 2013 December 31, 2012
Current assets:


Cash and cash equivalents $ 3,693 $ 4,739
Accounts receivable, net 19,395 20,484
Inventories, net 15,165 23,029
Investment in content, net 26,507 30,981
Prepaid expenses and other assets 1,759 1,938
Total current assets 66,519 81,171
Noncurrent portion of accounts receivable 3,361 4,127
Noncurrent portion of investment in content 55,112 58,816
Property, equipment and improvements, net 1,448 1,800
Equity investment in ACL 21,470 25,449
Other intangible assets 21,334 23,883
Goodwill 47,382 47,382
Total assets $ 216,626 $ 242,628
LIABILITIES


Current liabilities:


Accounts payable and accrued liabilities $ 28,151 $ 30,590
Accrued royalties and distribution fees 34,091 32,658
Deferred revenue 3,787 4,339
Current portion of long term debt 11,449 4,000
Total current liabilities 77,478 71,587
Long-term portion of debt, less debt discount 68,158 78,323
Deferred tax liability 350 350
Stock warrant liability 3,522 4,324
Total liabilities 149,508 154,584
Stockholders' equity:


Common stock, $0.001 par value, 250 million shares authorized, 13,430,177 and 13,377,546 shares issued and outstanding at June 30, 2013 and December 31, 2012, respectively 13 13
Additional paid-in capital 86,284 86,133
Retained earnings (deficit) (18,759) 1,743
Accumulated other comprehensive gain (loss) (420) 155
Net stockholders' equity 67,118 88,044
Total liabilities and stockholders' equity $ 216,626 $ 242,628





RLJ ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
For the Three and Six Months Ended June 30, 2013 and 2012



Successor Predecessor
(In thousands, except per share data) Three Months Ended
June 30, 2013 Six Months Ended
June 30, 2013 Three Months Ended
June 30, 2012 Six Months Ended
June 30, 2012






Revenue $ 34,286 $ 74,592 $ 17,294 $ 36,879
Cost of sales 36,144 63,880 9,419 19,484
Gross profit (loss) (1,858) 10,712 7,875 17,395






Selling expenses 5,602 11,649 3,112 6,675
General and administrative expenses 6,592 12,267 4,805 9,652
Depreciation and amortization 1,494 2,920 130 261
Total selling, general and administrative expenses 13,688 26,836 8,047 16,588
INCOME (LOSS) FROM OPERATIONS (15,546) (16,124) (172) 807






Equity earnings of affiliates 911 1,560 497 521
Interest expense, net (1,882) (4,008) (420) (577)
Other income (expense) 158 (919) (566) (383)
Total other income (expense) (813) (3,367) (489) (439)
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES (16,359) (19,491) (661) 368
Provision (benefit) for income taxes 585 1,011 (107) 80
NET INCOME (LOSS) (16,944) (20,502) (554) 288
Less net income (loss) attributable to noncontrolling interests — — (35) 56
NET INCOME (LOSS) APPLICABLE TO COMMON SHAREHOLDERS $ (16,944) $ (20,502) $ (519) $ 232






Net income (loss) per common share:










Unrestricted common stock:




Basic $ (1.27) $ (1.53) $ (0.51) $ 0.23
Diluted $ (1.27) $ (1.53) $ (0.51) $ 0.23
Restricted common stock:




Basic $ (1.27) $ (1.53) $ — $ —
Diluted $ (1.27) $ (1.53) $ — $ —






Unrestricted weighted average shares outstanding:




Basic 13,340 13,340 1,023 1,023
Diluted 13,340 13,340 1,023 1,031
Restricted weighted average shares outstanding:




Basic and diluted 49 43 — —









RLJ ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(unaudited)
For the Three and Six Months Ended June 30, 2013 and 2012



Successor Predecessor
(In thousands) Three Months Ended
June 30, 2013 Six Months Ended
June 30, 2013 Three Months Ended
June 30, 2012 Six Months Ended
June 30, 2012






NET INCOME (LOSS):




Net income (loss) $ (16,944) $ (20,502) $ (554) $ 288
Other comprehensive income (loss):




Foreign currency translation gain (loss) 106 (575) (57) 144
Total comprehensive income (loss) (16,838) (21,077) (611) 432
Less: comprehensive income (loss) attributable to noncontrolling interests:




Share of net income (loss) — — (35) 56
Share of foreign currency translation loss — — (3) (5)
Comprehensive income (loss) attributable to noncontrolling interest — — (38) 51
Comprehensive income (loss) attributable to common shareholders $ (16,838) $ (21,077) $ (573) $ 381





RLJ ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF EQUITY
(unaudited)











For the Six Months Ended June 30, 2013 (Successor)

Common Stock


Accumulated



(In thousands)

Shares
Par Value
Additional Paid-in Capital
Stockholder Notes Receivable
Retained Earnings Other Comprehensive Loss
Treasury Stock
Non-controlling Interests Total Stockholders' Equity
Balance at January 1, 2013 13,378 $ 13 $ 86,133 $ — $ 1,743 $ 155 $ — $ — $ 88,044
Issuance of restricted common stock for services 52 — — — — — — — —
Stock-based compensation — — 151 — — — — — 151
Foreign Currency Translation — — — — — (575) — — (575)
Net loss — — — — (20,502) — — — (20,502)
Balance at June 30, 2013 13,430 $ 13 $ 86,284 $ — $ (18,759) $ (420) $ — $ — $ 67,118













For the Six Months Ended June 30, 2012 (Predecessor)

Common Stock


Accumulated



(In thousands)

Shares
Par Value
Additional Paid-in Capital
Stockholder Notes Receivable
Retained Earnings Other Comprehensive Loss
Treasury Stock
Non-controlling Interests Total Stockholders' Equity
Balance at January 1, 2012 1,023 $ 10 $ 4,451 $ (684) $ 26,295 $ (421) $ (583) $ 759 $ 29,827
Stock-based compensation — — 231 — — — — — 231
Net income — — — — 232 — — 56 288
Foreign Currency Translation — — — — — 149 — (5) 144
Stockholders' Distributions — — — — (3,737) — — (265) (4,002)
Balance at June 30, 2012 1,023 $ 10 $ 4,682 $ (684) $ 22,790 $ (272) $ (583) $ 545 $ 26,488





RLJ ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
For the Six Months Ended June 30, 2013 and 2012



Successor Predecessor
(In thousands) 2013 2012
CASH FLOWS FROM OPERATING ACTIVITIES:


Net income (loss) $ (20,502) $ 288
Adjustments to reconcile net income (loss) to net cash used in operating activities:


Equity earnings in affiliates (1,560) (521)
Amortization of content, including impairments 36,588 8,149
Depreciation and amortization 370 221
Amortization of intangible assets 2,550 40
Foreign currency exchange loss 1,774 376
Fair value of stock warrant liability (802) —
Noncash interest expense 584 —
Stock-based compensation expense 151 231
Changes in assets and liabilities associated with operating activities:


Accounts receivable, net 1,669 4,365
Inventories, net 7,793 592
Investment in content, net (27,930) (8,802)
Prepaid expenses and other assets 183 (626)
Accounts payable and accrued liabilities (1,946) (4,828)
Deferred revenue (552) —
Net cash used in operating activities (1,630) (515)
CASH FLOWS FROM INVESTING ACTIVITIES:


Capital expenditures (28) (402)
Acquisition of ACL — (21,871)
Dividends received from ACL 4,005 1,105
Net cash provided by (used in) investing activities $ 3,977 $ (21,168)
CASH FLOWS FROM FINANCING ACTIVITIES:


Borrowings under revolving credit facility $ 10,398 $ 5,901
Repayments of borrowings under revolving credit facility (3,000) —
Proceeds from debt 191 20,700
Repayment of debt (10,452) (1,334)
Distributions to stockholders — (4,002)
Net cash provided by (used in) financing activities (2,863) 21,265
Effect of exchange rate changes on cash (530) (219)
NET DECREASE IN CASH: (1,046) (637)
Cash at beginning of period 4,739 1,625
Cash at end of period $ 3,693 $ 988
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:


Cash paid during the period for:


Interest $ 2,608 $ 462
Income taxes $ 253 $ 546





RLJ ENTERTAINMENT, INC.

Unaudited pro forma financial information reflects the operating results of RLJE as if Image and Acorn Media were acquired as of the periods indicated. These combined results are not necessarily indicative of the results that may have been achieved had the combined companies been combined as of such dates or periods, or of our future operating results.

Management believes Adjusted EBITDA to be a meaningful indicator of our performance that provides useful information to investors regarding our financial condition and results of operations because it removes material noncash items that allows investors to analyze the operating performance of the business using the same metric management uses. The exclusion of noncash items better reflects our ability to make investments in the business and meet obligations. Presentation of Adjusted EBITDA is a non-GAAP financial measure commonly used in the entertainment industry and by financial analysts and others who follow the industry to measure operating performance. The Company uses this measure to assess operating results and performance of its business, perform analytical comparisons, identify strategies to improve performance and allocate resources to its business segments. While management considers Adjusted EBITDA to be important measures of comparative operating performance, it should be considered in addition to, but not as a substitute for, net income and other measures of financial performance reported in accordance with GAAP. Not all companies calculate Adjusted EBITDA in the same manner and the measure as presented may not be comparable to similarly-titled measures presented by other companies.

The following unaudited pro forma financial information for the three and six months ended June 30, 2013 and 2012 reflects the operating results of RLJE as if Image and Acorn Media were acquired as of January 1, 2012. The unaudited pro forma financial information does not include adjustments for Business Combination transaction costs and severance incurred and other one-time expenses, nor does it include adjustments for synergies. These combined results are not necessarily indicative of the results that may have been achieved had the companies been combined as of such historical dates or periods, or of RLJE's future operating results.



PROFORMA INCOME STATEMENT
(unaudited)


For the Three and Six Months Ended June 30, 2013 and 2012



Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2013
Actual 2012
Proforma (1) 2013
Actual 2012
Proforma (1)
Revenues $ 34,286 $ 40,563 $ 74,592 $ 82,009
Costs of sales 36,144 29,341 63,880 58,199
Gross profit (1,858) 11,222 10,712 23,810
Selling, general and administrative expenses 13,688 13,895 26,836 29,759
Income (loss) from operations (15,546) (2,673) (16,124) (5,949)
Equity earnings of affiliates 911 496 1,560 1,024
Interest expense, net (1,882) (1,938) (4,008) (3,876)
Other income (expense) 158 (751) (919) 1,775
Provision (benefit) for income taxes 585 30 1,011 77
Net income (loss) $ (16,944) $ (4,836) $ (20,502) $ (6,949)






Adjusted EBITDA $ (6,274) $ 5,801 $ (2,538) $ 11,050


*Notes to the Proforma Income Statement Table:
(1) An adjustment for interest expense has been made to the prior year three and six month ended June 30, 2012 as if the existing debt was in place throughout the period.

The following table includes the reconciliation of our consolidated Adjusted EBITDA to consolidated GAAP net loss:


Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2013
Actual 2012
Proforma 2013
Actual 2012
Proforma
Net income (loss) $ (16,944) $ (4,836) $ (20,502) $ (6,949)






Amortization of content 19,319 18,382 36,588 33,995
Cash investment in content (13,468) (13,588) (27,930) (28,407)
Depreciation and amortization 1,494 1,422 2,920 2,833
Interest expense 1,882 1,938 4,008 3.876
Provision (benefit) for income tax 585 (30) 1,011 (77)
Transactions costs and severance 1,379 2,058 2,018 4,885
Warrant liability (598) — (802) —
Stock-based compensation 77 455 151 894
Adjusted EBITDA $ (6,274) $ 5,801 $ (2,538) $ 11,050

The above Adjusted EBITDA presentation differs from the Adjusted EBITDA presentation for the period ended March 31, 2013 and 2012. The amounts excluded from the current presentation of Adjusted EBITDA are ACL EBITDA, foreign currency exchange gain (loss) and other income related to Madacy.


.
.
Contact:.
.
Sloane & Company
Erica Bartsch, 212-446-1875
ebartsch@sloanepr.com
Traci Otey Blunt, 240-744-7858
The RLJ Companies
press@rljcompanies.com

RLJ Entertainment Chairman Robert L. Johnson Announces $2 Million Stock Purchase Plan

RLJ Entertainment Inc., (RLJE), announced today that Robert L. Johnson, the company's Chairman, has adopted a Rule 10b5-1 plan under which he can purchase up to $2 million worth of RLJ Entertainment’s common stock.

RLJ Entertainment, founded by Robert L. Johnson, founder of Black Entertainment Television and The RLJ Companies, is a leading creator, owner and distributor of media content across digital, broadcast and physical platforms. The company leverages its branding expertise, access to content and direct to consumer skills to optimize the value of its programs for distinct audiences. RLJ Entertainment was formed in October, 2012 through the business combination of RLJ Acquisition, Inc., Image Entertainment, Inc. and Acorn Media Group, Inc.

Mr. Johnson commented, “My decision to acquire additional RLJ Entertainment stock reflects my belief that the current value of the company’s shares do not represent the long-term growth prospects of the business. I have strong confidence in RLJ Entertainment’s management, Miguel Penella, CEO, and Drew Wilson, CFO, and their ability to maximize long-term shareholder value.”

Under the plan, Mr. Johnson may purchase up to $2 million of the company's outstanding shares from time to time over the next 24 months. The share purchases will be made in the open market or in privately negotiated transactions in compliance with applicable laws and regulations, and purchases on the open market will be conducted within the safe harbor provisions of Regulation 10b-18 under the Securities Exchange Act of 1934, as amended.

As of June 19, 2013 Mr. Johnson beneficially owns 6,974,178 shares of the company’s common stock which constitutes approximately 40.56% of the shares of the company’s common stock outstanding. The stock purchase program does not obligate Mr. Johnson to purchase shares of the company’s common stock and the program may be modified or terminated at any time without prior notice.

Forward Looking Statements

This press release may include “forward looking statements” within the meaning of the “safe harbor” provisions of the United Stated Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Investors are cautioned that such forward looking statements with respect to revenues, earnings, EBITDA, performance, strategies, prospects and other aspects of the business of RLJ Entertainment is based on current expectations that are subject to risks and uncertainties.

Readers are referred to the most recent reports filed with the SEC by RLJ Entertainment. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

About RLJ Entertainment - RLJ Entertainment, Inc. (RLJE) is a premier independent licensee and distributor of entertainment content and programming in North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (stand-up comedy, feature films), One Village (urban), Acacia (fitness), Slingshot (faith), Athena (educational), Criterion (art films) and Madacy (gift sets). These titles are distributed in multiple formats including DVD, Blu-Ray, digital download, digital streaming, broadcast television (including satellite and cable), theatrical and non-theatrical.

Via its majority-owned subsidiary Agatha Christie Limited (“ACL”), RLJE manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. And through its direct-to-consumer business, RLJE has direct contacts and billing relationships with millions of consumers.

RLJE leverages its management experience to acquire, distribute, and monetize existing and original content for its many distribution channels, including its nascent branded digital subscription channels, and engages distinct audiences with programming that appeals directly to their unique viewing interests. RLJE has proprietary e-commerce web sites for the Acorn and Acacia brands, and owns the recently launched Acorn TV digital subscription service.


.
.
Contact:.
.
Sloane & Company
Josh Hochberg, 212-446-1892
Jhochberg@sloanepr.com
or
Erica Bartsch, 212-446-1875
ebartsch@sloanepr.com
or
The RLJ Companies
Traci Otey Blunt, 240-744-7858
press@rljcompanies.com

according to the filings, RLJ Acquisition spent
approx. $120 million to acquire Acorn and Image.
What does that tell us about this current market cap ?
It could double to reach book value. Acorn was bought
at its book value.
Gives new meaning to the RLJEW warrants.

Market Cap $59.1M
Shares Out. 13.3M Book Value $9.54
Looks like a winner I will watch carefully over the next few days.
Great stock for day traders.

Key Information
Price (03/14/13) (USD) 5.00
52-Week High (USD) 9.68
52-Week Low (USD) 3.25
Market Cap (USD) 55.0M
Avg Daily Vol 17,650
Exchange NASDAQ
Annual Dividend (USD) --
Trailing PE --
Forward PE 138.3
Annual Revenue (USD) 184M
Inst. Ownership >100%
1-Mo Return 40.1%

this could be big.