Late last night (or early this morning) before finally closing my laptop and logging off, I sent Howard Kiedaisch a hasty email to see if he wanted to have a quick conversation to catch up before CineEurope. When I had spoken with the CEO of Arts Alliance Media at the end of May he had told me the company would be making a few announcements on the run up to the conference. Though he provided a heads up about AAM’s plans for alternative content (more on that in a moment), Kiedaisch confessed he wasn’t ready to talk about one or two developments that were in the midst of being finalized.
Due to the time difference between London, where Kiedaisch and AAM are based, and Los Angeles, and knowing his replies to email are often swift, the first thing I did this morning was grab my phone check if he had gotten back to me. Indeed, there most certainly was an email from Kiedaisch, the contents of which shook off any remnants of sleep and jolted me awake. To be sure I wasn’t still dreaming however, I reread the press release Kiedaisch had pasted into his email. The one announcing after nine years as CEO of AAM, he would be stepping down from his position on July 7th of this year and will be succeeded by John Aalbers, the former CEO of Volubill, a telecom industry software developer.
Oh, and yes, the release also went on to detail the merger of AAM’s event cinema distribution division with Mr. Wolf, a content production and finance company that, like AAM, was founded by Thomas Høegh. The combined outfit will operate as Arts Alliance Limited and focus its commercial efforts on financing, producing, distributing and marketing event cinema (a.k.a. alternative content).
The integrated company makes perfect sense and combines the production and marketing expertise of Mr. Wolf with the distribution and cinema background offered by AAM’s event cinema division. There are natural synergies between the two companies which offered slightly overlapping services. Additional news and information about the new venture is likely to come out of CineEurope next week.
In hindsight, Kiedaisch stepping down is also completely logical. That’s why he thought of it five months ago and spent the intervening time orchestrating his departure in a way that would set AAM up for success. He explained to AAM’s board at the end of last that the company would have to decide which of its five businesses it truly wanted to support; digital cinema financing and management, network operations, software services, content services and/or alternative content. Kiedaisch rightly felt that the marketplace for some of these businesses was becoming overcrowded and by working in so many areas AAM may giving each short shrift.