- Associated Press - Friday, July 23, 2010

LOS ANGELES (AP) - After months of unsuccessfully trying to find a buyer, Liberty Media Corp. is dissolving its Overture Films unit, sending its distribution and marketing staff to film financier Relativity Media LLC.

The deal does not include more than a dozen films made by Overture since 2007 that will stay with Liberty.

As part of the deal, Relativity will take on about 45 people and also receive a distribution fee on three movies that haven’t been released yet.

Liberty made the move to focus its resources on making original series for its Starz pay TV channel. Relativity is bulking up its operations so that it can compete with major movie studios.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide