BETHESDA, Md., Aug. 2, 2012 /PRNewswire/ -- Robert L. Johnson, founder and chairman of The RLJ Companies (RLJ), today announced an agreement with YouTube to develop a new faith-friendly channel. ALRIGHT TV is a faith-friendly channel designed to appeal to the aspirational and inspirational goals of consumers of all ages with an emphasis on content that informs, entertains, and addresses personal and family-related issues in a secular and positive manner.
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The RLJ Companies is also the sponsor ofRLJ Acquisition, Inc., a special purpose acquisition company that is in the process of completing a business combination of Image Entertainment, Inc. (Image) and Acorn Media Group (Acorn). Mr. Johnson also announced that upon completion of thecombination of RLJ Acquisition, Image and Acorn will be known as RLJ Entertainment, Inc. (RLJE), and The RLJ Companies intends to contribute the new faith-friendly channel on YouTube at no acquisition cost to RLJE shareholders.
"I am very excited about the opportunity to be in a business relationship with YouTube. YouTube's commitment to providing a broad array of diversified producer-generated content on YouTube will present an exciting opportunity for consumers and advertiser sponsorship," said Johnson. "The RLJ Companies is proud to be in association with YouTube and we look forward to expanding that relationship as we complete the acquisition of Image Entertainment, Inc. and Acorn Media Group, Inc. under RLJ Entertainment."
"We are excited about developing a faith-friendly content channel with The RLJ Companies. The RLJ Companies and Our Stories Films (OSF) possess a proven track record in creating quality content and we look forward to working with RLJ and OSF in this new venture," said Malik Ducard, Director of Entertainment Content Partnerships at YouTube.
"ALRIGHT TV will offer first rate buzz-worthy content in the areas of comedy, reality, self-help, music, and talk that promises to empower and entertain family audiences of all ethnicities and socio-economic backgrounds. Bob and I are very excited to move forward with our vision and commitment to provide quality entertainment into the digital arena," said Tracey E. Edmonds, President and COO of Our Stories Films. "I am delighted to work with Bob and YouTube in this innovative relationship," she concluded.
Johnson announced earlier this year the acquisition of Image Entertainment, Inc. and Acorn Media Group, Inc. to form RLJ Entertainment, Inc., making it one of the largest global independent distributors of digital and video content. RLJ Entertainment will provide content to all media platforms including broadcast and cable, DVD and Blu-Ray, digital downloads, and digital streaming.
About The RLJ Companies: The RLJ Companies, founded by Robert L. Johnson, is an innovative business network that provides strategic investments in a diverse portfolio of companies. Within The RLJ Companies portfolio, Johnson owns or holds interests in businesses operating in a publicly traded hotel real estate investment trust; private equity; financial services; asset management; insurance services; automobile dealerships; sports and entertainment; and video lottery terminal (VLT) gaming. The RLJ Companies is headquartered in Bethesda, MD, with affiliate operations in Charlotte, NC; Little Rock, AR; Los Angeles, CA; San Juan, PR; and Monrovia, Liberia. Prior to founding The RLJ Companies, Johnson was founder and chairman of Black Entertainment Television (BET). For more information visit: www.rljcompanies.com.
About Our Stories Films, LLC: Our Stories Films is the first African American owned film production studio that produces theatrical motion pictures that showcase the talents of African Americans on both sides of the camera and in the creative process. Founded in 2006, Our Stories Films is headquartered in Hollywood, CA, and targets underserved, urban audiences within the family and urban comedy genre with a production budget of $5M-$7M per film. In May 2011, Our Stories Films in collaboration with TriStar, a Sony Pictures Entertainment company, produced and released Jumping the Broom, which debuted as the number one comedy during the opening box office weekend. For additional information please visit: www.ourstoriesfilms.com.
About RLJ Acquisition, Inc. (RLJAU; RLJA; RLJAW) is a special purpose acquisition company (SPAC), also known as a blank check company that seeks to acquire one of more operating companies. RLJ Acquisition, Inc. intends to use the net proceeds from its initial public offering to acquire one or more operating businesses through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. For more information about RLJ Acquisition, Inc., please visit: http://www.rljcompanies.com/companies/rlj-acquisition-inc/
Contact: Traci Otey Blunt, 240.744.7858 or press@rljcompanies.com
SOURCE The RLJ Companies
