MUMBAI: Media industry veterans Richard Seet and Stephen Elsky have formed Amity Entertainment, a multi-faceted production, distribution and licensing company using financing secured from New York investment firm Angelo, Gordon & Co.
In creating Amity, Seet and Elsky acquired the assets to Tadpole Entertainment and two film libraries. These acquisitions provide Amity with an initial catalog consisting of two franchise properties - The Big Comfy Couch and the Ernest feature films - and over 120 feature films including several dozen desirable but previously undistributed martial arts titles.
"This is just the beginning of our mission to make Amity Entertainment one of the industry’s pre-eminent forces in production, distribution and licensing. Angelo, Gordon’s backing has allowed us to initiate a number of other acquisition, co-production and distribution negotiations, and we expect to be adding many additional properties to our portfolio in the months ahead," said Amity chairman and CEO Richard Seet.
Elsky, who was named president and COO, added, "With the acquisition of The Big Comfy Couch, which is celebrating its tenth anniversary on PBS stations, and the addition of the Ernest franchise, which will celebrate its 25th anniversary next year, we have two very successful properties on which to build the company."
"This is Angelo, Gordon’s first private equity investment in an entertainment content company. With the proliferation of entertainment distribution both in the US and overseas, we see tremendous value in the long term build up of a content library and are delighted to be sponsoring Richard and Steve in this effort," Angelo, Gordon & Co managing director Josh Brain.
Tadpole Entertainment markets the pre-school children’s program The Big Comfy Couch and has rights to distribute and license the Ernest feature films and other properties. Amity’s movie library features such stars as Tom Hanks, Kim Basinger, Jack Nicholson, Jodie Foster, Anthony Hopkins and Burt Lancaster.
Seet is a media industry entrepreneur. He was most recently founder and chairman of Seet Kummerfeld Prieb, a New York-based investment management and advisory company with transactions concentrated in magazine publishing, custom publishing, marketing/media information services and media support services. He previously CO-founded Qiosk.com which provided digital distribution of interactive magazines. He began his career as a principal with The Carlyle Group, following a stint as faculty research associate at the Harvard Business School.
Elsky is a 40-year veteran of the entertainment industry. Most recently, he led the successful re-launching of The Big Comfy Couch to PBS stations in the United States. Previously, Steve served as executive vice president and chief operating officer of High Five Entertainment and spent 12 years with Hearst Entertainment, where he was senior vice president. He began his career at United Artists Television where he served for 13 years and was general manager of operations.
