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Relativity Media Acquires Rogue Pictures
4-Jan-2009
Written by: Sari N. Kent
Rogue Pictures, formerly owned by Universal Pictures, has been purchased by Relativity Media for a mere $150 million.
Relativity Media, after two months of negotiations, has bought Rogue Pictures from Universal Pictures for around $150 million.
According to a Variety.com article, “Move bolsters Relativity's library, adding some 30 titles, including Rogue's debut pic ‘Unleashed’ and summer horror hit ‘The Strangers,’ which earned $53 million. Relativity's new assets also include more than 30 Rogue projects in various stages of development, such as a ‘Strangers’ sequel, which has a finished script. Relativity will inherit a number of producing deals as well, including those with Wes Craven and Intrepid.”
The price of $150 million is said to be a bargain given the faltering economy. Those close to the deal say the price would have been double that in a more stable national monetary setting.
But Universal Pictures also benefited from the deal. It takes a lump cash payment now while still retaining a distribution stake in future Rogue films.
The Variety.com article delves more into the particulars of the agreement, “As part of the deal, U will continue to release Rogue titles for most of the world and collect a discounted distribution fee of roughly 10%, which is less than the standard rate of 12% but more than the 8% that companies like Marvel and DreamWorks Animation pay.”
The first film to be released after the closing of the deal is David Goyer’s supernatural thriller, The Unborn, starring Gary Oldman and Carla Gugino and produced by Michael Bay.
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