NEW YORK — Cinergi Pictures Entertainment Inc. will sell its 50% interest in “Die Hard With a Vengeance” to 20th Century Fox for $11.25 million, Cinergi said Wednesday.
News of the price helped buoy Cinergi stock, which has been slowly rising in recent weeks as the outline of the Cinergi liquidation plan takes shape. The indie, which agreed to sell its film library to Walt Disney Co. earlier in the year, said last month it was negotiating to sell the “Die Hard” interest to Fox, but the price of the sale was not revealed until Wednesday. Cinergi stock closed up 22¢ to $1.43 Wednesday.
Cinergi still has to pay out some residuals on “Die Hard With a Vengeance,” but it said Wednesday that they would not likely be more than $1 million.
Cinergi last month asked for bids for its development projects. It already has an offer of $4.75 million from Cinergi chairman Andrew Vajna for the projects.
The other major asset is Cinergi’s special effects facility. It also has substantial cash on its balance sheet.