U in hunt for October Films
Universal Studios Inc. is very close to signing a deal to acquire October Films, sources said. Although it has only about 30 titles in its library, October’s established name and infrastructure would fit well with Universal, which has been mulling over starting its own classics division. The studio has lacked a specialized division since Polygram bought out U’s half of Gramercy Pictures in 1996. Since then, U has been vacillating between starting its own division and acquiring a going concern like October.