Morgan Creek has identified several potential bidders as the company behind “Robin Hood: Prince of Theives” and “The Last of the Mohicans” prepares to sell domestic rights to its film library.
Studios, mini-majors, and private equity firms have all expressed interest, although no one has formally bid and a timeline for a possible sale has yet to be established.
“It’s early in the process,” said Greg Mielcarz, executive VP of marketing and publicity at Morgan Creek. “There are no frontrunners at the moment.”
The company is offering up rights to 65 of its films and has tapped Houlihan Lokey to serve as its investment banker. There are certain films that the company will retain remake or television rights to, among them “The Exorcist,” “Ace Ventura,” “Major League” and “Clive Barker’s Nightbreed.”
Mielcarz said the company had not determined an asking price for the titles and would “let the market decide” their value. The goal is to use the proceeds of the sale to fund film production. Morgan Creek has the rap biopic “Tupac” in the works and hopes to make two movies or television productions a year.