MUMBAI: Independent filmed entertainment studio Lionsgate has closed a deal to purchase a minority ownership stake in the independent theatrical distribution company Roadside Attractions LLC.
The announcement was made jointly by Lionsgate president of theatrical films Tom Ortenberg and Roadside Attractions co-presidents Howard Cohen and Eric d’Arbeloff.
“With Lionsgate’s investment in Roadside Attractions, we are celebrating Lionsgate’s origins as a platform for distinctive and truly independent films. The Roadside team has consistently shown taste and savvy in distributing pictures like Amazing Grace, Ladies In Lavender and Super Size Me,” said Ortenberg.
“Lionsgate’s investment is a fantastic opportunity for Roadside Attractions and provides us with the resources to get to the next level. They started in our business, so of course they get it. Lionsgate’s investment will allow Roadside to both continue hitting our “singles and doubles” such as our releases of Sarah Silverman: Jesus Is Magic and Boynton Beach Club, as well as to hit more home runs like Amazing Gracec,” said Cohen and d’Arbeloff in a joint statement.
Having exited the IDP partnership earlier this year, Roadside has been ramping up its own in-house theatrical distribution, marketing and publicity staff to release its films. Lionsgate’s investment is passive and Roadside will remain an autonomous entity, theatrically releasing 12 to 14 films a year. Roadside theatrical releases will be distributed through Lionsgate in home entertainment and all ancillary markets.