Universal Sold Rogue Pictures to Relativity Media

By David Fierce
18:10, January 5th 2009
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Universal Sold Rogue Pictures to Relativity Media

Universal Pictures has sold Rogue Pictures to Relativity Media LLC. Rogue Pictures was the thriller and horror movie subsidiary of Universal.

According to a statement made on Sunday by Kori Bernards, a NBC Universal spokesperson, the two long-time partners made the deal sometime before Christmas. In addition, a report from The New York Times revealed that Relativity Media paid about $150 million to buy Rogue Pictures. However, Bernards did not confirm the price in her statement and spokespersons at Relativity did not make any comments.

On the other hand, rumors about the Rogue Pictures acquirement by Relativity have been floating around the two companies since October. Back then, an anonymous source, which was in touch with executives at both companies, stated that Relativity accepted to buy Rogue for a stunning $150 million. According to the source, Relativity received Rogue’s catalog, brand and the upcoming releases, too. However, Universal would allegedly continue to distribute the movie titles.

At this time, Universal, a subsidiary of General Electric, is one of the companies to face the most acute effects of the economic depression across the United States. Analysts believe that Universal Pictures will now cope better with the financial crisis, but there is still a big bet, as the company will promote as much as 35 movies each year after Steven Spielberg’s DreamWorks will finish its productions in fall 2009.

Rogue Pictures is preparing four movies this year, including “25/8” and “Fighting.” Among actors that are starring in these productions, the most famous are Terence Howard and Channing Tatum.



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