MUMBAI: Universal Pictures has sold its film label Rogue Pictures to its financing partner Relativity Media LLC. According to media reports, the deal was sealed for approximately $150 million.
The deal comes after Universal Pictures agreed to distribute up to six movies a year from Steven Spielberg’s DreamWorks studio, which split from Viacom Inc.’s Paramount Pictures and joined hands with Anil Ambani’s Reliance Entertainment.
Rogue is set to release four films in 2009, which also includes Wes Craven, serial-killer horror movie, 25/8 along with Fighting that stars Terrence Howard and Channing Tatum.
The deal comprises purchase of Rogue’s library of more than 25 titles, four upcoming films and more than 30 projects in development. Relativity Media also acquires the unit’s producing deals, including those with Wes Craven’s Midnight Entertainment and Intrepid Pictures.
Rogue launched in 2004 as a division of Universal’s Focus Features. In 2007, it became an independent specialty unit of the parent studio.
The first movie up for release under the deal is The Unborn, written and directed by David S. Goyer and produced by Michael Bay’s Platinum Dunes.