3 items from 2014
Joe Roth’s 14-year-old Revolution Studios has been acquired for $250 million by Fortress Investment Group, according to several sources close to the sale. Revolution was carrying roughly $175 million in debt, which was absorbed by Fortress, which borrowed approximately $150 million to make the sale, say several sources familiar with the transaction. Sun Trust was the lead lending bank.
Fortress made the announcement Thursday as part of disclosing its plans to recapitalize Revolution — which stopped film production in 2007 — and position it for growth by developing, producing and distributing new content for TV and exploiting its library of 50 films and over 200 TV episodes.
A previous report suggested the company would sell for $500 million but sources tell Variety that figure is inaccurate.
Roth and Revolution retained Evolution Media Capital at the close of 2013 to run a structured process to find a new investor as the studios’ previous credit facility was coming to an end »
- Alexandra Cheney and Dave McNary
Have you noticed that non-romantic pairings of actors in Hollywood movies in recent years have largely followed the ‘big star/little star’ pattern? Mel Gibson and a young Robert Downey Jr. in Air America, Harrison Ford and Josh Hartnett in Hollywood Homicide, Denzel Washington and Mark Wahlberg in 2 Guns – sometimes, it’s almost as if filmmakers are afraid the screen can’t hold more than one megastar at a time. Back in the day, we’d enjoy Robert Redford and Paul Newman together in the frame, or Sidney Poitier and Bill Cosby. Now, Nicholas Stoller (Neighbors) and Adam McKay (Anchorman) are attempting to re-capture that level of mega-wattage by re-making the 1974 film, Uptown Saturday Night.
Originally written by Richard Wesley – the first screenplay by the successful playwright – Uptown Saturday Night was directed by Sidney Poitier, who also starred in the project alongside Bill Cosby and Harry Belafonte. With Poitier and Cosby as two friends, »
- Sarah Myles
One can find a quite revealing, fascinatingly candid admission by Steven Spielberg on a documentary for Indiana Jones & The Kingdom of the Crystal Skull featured on the film’s DVD release. In it, he opens proceedings by admitting that, following the end to The Last Crusade, he felt he had brought the unlikely Indy trilogy to an appropriate conclusion with a well judged shot of Harrison Ford’s erstwhile hero literally riding off into the sunset. It meant that efforts by Ford and George Lucas to revive the franchise, an ongoing struggle lasting almost all of the intervening nineteen years between Crusade and the forth in the series, were initially met with staunch refusal. Spielberg had wrapped up his fan favorite.
- Scott Patterson
3 items from 2014
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