| Company type | Media company |
|---|---|
| Industry | Media |
| Founded | 1985; 40 years ago (1985)[1] |
| Founder | Mickey Elfenbein, Philip Kives |
| Defunct | May 12, 2000; 25 years ago (2000-05-12) |
| Fate | Bankruptcy |
| Successor | Encore Software (Sereno Ventures, LLC) |
| Headquarters | 5555 Pioneer Creek Drive,Maple Plain,Minnesota |
Key people | Mickey Elfenbein(Chairman), Ed Goetz(President), Mark Elfenbein(Vice President), Greg Glass(Director of Sales) |
| Revenue | $40,000,000 (1999) |
| Total assets | $19,570,0591 |
| Subsidiaries | Pickwick Records |
| Footnotes / references 1 At time of bankruptcy in 2000 | |
Simitar Entertainment, Inc. was an Americanmedia company that sold music, videos, DVDs, and computer software. The company specialized in compilation albums, special interest video, and urban media. Simitar also distributed its own label.
In 1985, Mickey Elfenbein, former president and CEO ofK-Tel International, and Philip Kives (K-tel founder), after K-Tel just went to bankruptcy in October 1984, started Simitar Entertainment. The first film released by Simitar was the children's filmShinbone Alley, which was retailed at $39.95, and a soundtrack album would be marketed through television commercials.[2] Simitar boughtPickwick Records. Simitar was a long-time leader in budget VHS throughout the 80s and early 90s.
In 1986, Simitar Entertainment had reached a deal with theUnited States Hot Rod Association to bring and promote its home video titleMonster Madness.[3] By 1987, Minnesota-based Wedding Information Services had inked an agreement with Simitar Entertainment, whereas Simitar would release several titles on videocassette to mass merchandise and their video stores.[4] Reach Entertainment produced sports home video programs for Simitar.
In 1991, Simitar scored a hit with the titleDesert Shield, a documentary on theGulf War.[5][6] On February 25, 1997, Simitar Entertainment had distributed the six-part documentary seriesHollywood Starlets, produced by Promotions Plus in cooperation with Orphen Enterprises, which primarily focused on B-movie actresses.[7] By April, 1997 Simitar was the first independent in the U.S. with DVD releases. On May 18, 1998, Simitar licensed the rights to 14Jackie Chan movies, and severalGodzilla movies to bring it onto DVD release, under license fromUnited Productions of America, then-U.S. holder of the franchise.[6] In 1999, Simitar's revenues rose from $5 million to $40 million in just three years.
On March 9, 1999,Titan Sports, Inc.—the parent company of theWorld Wrestling Federation (WWF)– and its music licensee, The Cherry River Music Co., sued Simitar Entertainment for copyright infringement relating toWWF The Music, Vol. 3 and won. Subsequently, in 2000, Simitar folded due to problems in the music division; the company's total assets were $19,570,059, with debts of $25,556,878. Simitar auctioned off its assets later that year, including its film library, which sold to Brentwood Communications, Inc. (BCI) for $215,000. Ed Goetz and Greg Glass went to BCI to start a DVD division.[8] In October/November 2003, BCI was purchased byNavarre Corporation. Naverre's assets have since been sold toSpeed Commerce in 2012,[9] then to WYNIT Distribution in 2014.[10] Following the bankruptcy of WYNIT in 2017,[11] Sereno Holdings acquired most of the company assets and relaunched Navarre Distribution as "Encore Software",[12][13] and it is currently this "new" Encore which owns Simitar and the other former BCI labels.
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