Rogue Pursued by Relativity Media
Wed, 22 Oct 2008 17:45:12
In a move to increase its profile as a producing arm, Relativity Media is negotiating with Universal to acquire the assets of Rogue Pictures, which is Universal's genre label. Relativity, a hedge fund business and film financier, is looking to purchase the company for around $150 million. According to the terms of the deal, Relativity would purchase several library titles, four upcoming films, and 32 projects that are currently in development stages. One of the key library titles that Relativity would acquire is The Strangers, which recently came out on DVD.
Rogue was launched in 2004 as a division of Universal's Focus Features but became its own independent specialty unit of Universal last year. If the deal comes to fruition, Relativity would distribute the films it produces through Universal's system. Universal would continue to market and distribute the Rogue projects that Relativity is acquiring. Additionally, Relativity, which has has been looking to produce movies separately from the films it was investing in, would allow Universal to handle its other titles for a fee.
It has not been determined how the deal will affect Rogue employees and executives.
—The ARTISTdirect Staff