Mergers and Acquistions News
Categories: Media & Information Services
January 6th 2009, 15:55PM
Universal Pictures has divested its horror and thriller film arm Rogue Pictures to its financing partner Relativity Media, it has been revealed.
NBC Universal spokeswoman Kori Bernards confirmed on Sunday that the deal closed shortly before Christmas, but refused to confirm the sale price.
However, the New York Times has reported that the deal was for around $150 million (£102 million).
The Associated Press claims that by divesting the arm, Universal will be able to make significant savings in its overhead expenses.
As well as this, the deal should help protect it in a weakening economy.
Rogue currently has more than 30 projects in development, with four set for release this year.
Last month, it was revealed that independent TV production firm RDF Media had agreed the terms of a management buyout.
The £52 million deal will see the company acquired by its management team and Dutch investment company Cyrtle.
Shareholders are to vote on the proposal later this month.
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