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.
