Alliance Entertainment’s Mill Creek Entertainment Announces Licensing Deal with The Nacelle Company

Mill Creek Entertainment, a division of Alliance Entertainment Holding Corporation, today announced it has signed a licensing deal with production company and distributor The Nacelle Company, LLC.

The Nacelle Company offers an impressive catalog of feature and documentary films. Through this partnership, Mill Creek Entertainment will distribute their content into the physical marketplace.

Mill Creek Entertainment will utilize content from nearly 1,000 hours of stand-up comedy specials via The Nacelle Company’s Comedy Dynamics Division, combining the biggest comedian acts, like Jim Gaffigan, Tom Segura, Tiffany Haddish, and Ali Wong, to create exclusive sets for retailers across the country.

Mill Creek Entertainment will also bring The Nacelle Company’s most popular series and documentaries to retail for the first time ever, such as Icons Unearthed: Star Wars, and The Center Seat: 55 Years of Star Trek.

"Partnering with The Nacelle Company establishes Mill Creek as a leader in premium comedy content on physical media, adding some of the best comedy entertainment on the market to our library,” said Jeff Hayne, SVP of Acquisitions for Mill Creek Entertainment. “We are equally excited to bring ground-breaking documentaries and popular series that have never been available as physical media to shelves nation-wide."

“There’s no better feeling than holding one of your favorite films in your hand, and as we work towards that goal, there’s no better partner than Mill Creek Entertainment,” said Founder and CEO of the Nacelle Company, Brian Volk-Weiss.

About The Nacelle Company

Founded by Brian Volk Weiss, The Nacelle Company develops, produces, and distributes feature and documentary films as well as TV shows – both scripted and unscripted. Nacelle’s vast array of partnerships include Netflix, Amazon, Disney +, HBO, Discovery, BET+, A&E Networks, Hulu, Viacom, and many more. The Nacelle Company has produced the hit Netflix docu-series, Down To Earth with Zac Efron, The Movies That Made Us, and The Toys That Made Us, as well as Behind The Attraction for Disney +, Sony’s Mad About You reboot, Netflix’s How To Fix A Drug Scandal, CW’s Discontinued, Netflix’s Kevin Hart’s Guide To Black History, All The Way Black for BET+, and Grant for The History Channel.

About Mill Creek Entertainment

Mill Creek Entertainment is the home entertainment industry’s leading independent studio for Blu-ray, DVD, and digital distribution. With direct sales pipelines to all primary retail and online partners, Mill Creek Entertainment licenses, produces, markets, and distributes a dynamic array of film and television content to the entire North American retail marketplace, both in-store and online. Mill Creek Entertainment’s expansive library includes Oscar®-winning theatrical feature films, Emmy®-winning classic and current TV series, original documentary productions and pop-culture favorites that enlighten, educate, and entertain. Mill Creek Entertainment is based in Minneapolis, Minnesota. For more information, please visit www.millcreekent.com.

About Alliance Entertainment

Alliance Entertainment is a premier distributor of music, movies, and consumer electronics. We offer 485,000 unique in stock SKU’s, including over 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games. Complementing our vast media catalog, we also stock a full array of related accessories, toys and collectibles. With more than thirty-five years of distribution experience, Alliance Entertainment serves customers of every size, providing a robust suite of services to resellers and retailers worldwide. Our efficient processing and essential seller tools noticeably reduce the costs associated with administrating multiple vendor relationships, while helping omni-channel retailers expand their product selection and fulfillment goals. For more information visit www.aent.com.

On June 23, 2022, Alliance Entertainment announced that it will become publicly listed through a merger transaction with Adara Acquisition Corp. (NYSE: ADRA, ADRA.U, ADRA.WS) (“Adara”), a publicly traded special purpose acquisition company. The transaction is expected to close in the fourth quarter of 2022, at which point the combined company’s common stock is expected to trade on the NYSE American under the ticker symbol “AENT”.

About Adara Acquisition Corp.

Adara raised $115 million in February 2021 and its securities are listed on the NYSE American under the ticker symbols “NYSE: ADRA, ADRA.U, ADRA.WS”. Adara is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. Adara is led by its CEO, Thomas Finke (former Chairman and CEO of Barings LLC) and its director, W. Tom Donaldson (founder of Blystone & Donaldson). In addition to Messrs. Finke and Donaldson, Adara’s Board of Directors also include Frank Quintero, Dylan Glenn and Beatriz Acevedo-Greiff.

To learn more, please visit: https://www.adaraspac.com

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity, expectations and timing related to Alliance Entertainment’s business, customer growth and other business milestones, potential benefits of the proposed business combination (the “Proposed Transactions”), and expectations related to the timing of the Proposed Transactions.

These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Adara’s and Alliance Entertainment’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Alliance Entertainment and Adara.

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the Proposed Transactions, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Proposed Transactions or that the approval of the stockholders of Adara or Alliance Entertainment is not obtained; failure to realize the anticipated benefits of the Proposed Transactions; risks relating to the uncertainty of the projected financial information with respect to Alliance Entertainment; risks related to the music, video, gaming, and entertainment industry, including changes in entertainment delivery formats; global economic conditions; the effects of competition on Alliance Entertainment’s future business; risks related to fulfilment network; risks related to expansion and the strain on Alliance Entertainment’s management, operational, financial, and other resources; risks related to operating results and growth rate; the business could be harmed the amount of redemption requests made by Adara’s public stockholders; and those factors discussed in Adara’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 under the heading “Risk Factors,” and the Current Report on Form 8-K filed on June 23, 2022 and other documents of Adara filed, or to be filed, with the SEC.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

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