Toronto’s Peace Arch Entertainment has acquired a library of 500 films from Castle Hill Prods. and Dream Prods., both of New York.
When the deal closes at the end of July, Dream chair Mark Balsam will join Peace Arch as head of U.S. distribution.
“I believe that by merging the strength of our product with Peace Arch’s growing presence in worldwide markets,” Balsam said, “we can substantially increase profitability and become a dominant force in acquiring and selling top quality features.”
The company called the collection, which includes “Glengarry Glen Ross,” the Marx Brothers’ “A Night in Casablanca” and Woody Allen’s “What’s Up, Tiger Lily?,” “one of the largest independent film libraries in the world.”
Deal gives the company worldwide rights to all titles.
“The addition of this library brings critical mass to our existing worldwide sales business,” said Peace Arch CEO Gary Howsam, “and provides a steady source of future earnings for our growing company.”