Revolution Studios Buys Morgan Creek Library

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www.hollywoodreporter.com/news/revolution-studios-buys-morgan-creek-738858

Revolution Studios Buys Morgan Creek Library

Sixty-four titles from 'Robin Hood: Prince of Thieves' to 'Ace Ventura' are part of the package


Revolution Studios has purchased the Morgan Creek International film library, which consists of 64 titles, including Robin Hood: Prince of Thieves and the Ace Ventura and Major League franchises, the company announced today.

The deal, which was made through a competitive auction, marks the first major acquisition completed under Revolution Studios’ new ownership through funds managed by affiliates of Fortress Investment Group. The library now numbers 114 motion pictures and 240 television episodes.

“Morgan Creek International’s 64 titles are a perfect complement to the Revolution Studios library,” Revolution CEO Vince Totino said in a statement. “Given the growth of international markets, this purchase will add significant value to the company for years to come. Revolution is actively seeking to acquire properties of similar quality as it continues to implement its new growth strategy.”

“With international rights immediately available, this library positions us as a major supplier of top-quality content in the worldwide marketplace,” added COO Scott Hemming.

Other titles in the Morgan Creek International library, which are available for distribution in international territories, include The Last of the Mohicans, The Good Shepherd, True Romance and Young Guns II.

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variety.com/2014/film/news/revolution-studios-buys-international-rights-to-morgan-creeks-library-for-36-8-million-1201323717/

Revolution Studios Buys International Rights to Morgan Creek’s Library for $36.8 Million

Revolution Studios has acquired the international distribution rights and copyrights of Morgan Creek’s film library for $36.75 million, the company said Tuesday. Morgan Creek retains domestic rights.

The complete library includes 64 titles, including “Robin Hood: Prince of Thieves,” “Ace Ventura: Pet Detective,” and its sequel, “The Last of the Mohicans,” “Young Guns,” the “Major League” franchise and “The Whole Nine Yards,” the latter of which was part of Eli Samaha’s Franchise Films.

Inverness Distribution, a Bermuda-based company, previously owned rights to Morgan Creek’s international library and filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in New York in late 2011. The company was formerly known as Morgan Creek International.

KPMG was tasked with overseeing the liquidation of Morgan Creek’s library on behalf of a syndicate of banks that included Société Générale, Bank of Ireland, Santander, Commerzbank and ING through the Chapter 11 sales process.

Revolution Studios, founded by Joe Roth in 2000, was acquired in June by Fortress Investment Group, which manages $60 billion in assets.

About Corporate Finance, which advised KPMG on the deal, described Morgan Creek’s library as “a fantastic array of titles” that includes evergreens “all starring A-list Hollywood talent.”

Morgan Creek declined to comment on the deal.