It’s a wrap for Joe Roth at Revolution Studios, which he founded in 2000. He’ll become a strategic advisor to the company with a first-look TV development deal, the company says today, after it received a major infusion of cash from Fortress Investment Group. The private equity firm says it intends to buy out Revolution’s original partners. Studio CEO Vince Totino and COO Scott Hemming will remain at Revolution. “The time is right for us to expand the Revolution brand through the development of original projects as well as those that are based on the valuable intellectual property in the Revolution library,” Totino says. “With Fortress’s financial resources and industry expertise and our continued partnership with Joe Roth, we plan to grow Revolution substantially in the coming years.”
Revolution became a financial disappointment after a promising start. Roth — a former studio exec at Disney and Fox — forged alliances with Sony, Starz and Fox, and stars including Adam Sandler and Julia Roberts. Roth also directed films including Christmas With The Kranks and Freedomland. But Revolution shuttered its film division in 2007 with a library of 50 titles as bombs including Gigli and Hollywood Homicide overwhelmed successes including Oscar winner Black Hawk Down and Maid In Manhattan. The TV production operation has continued with shows including Are We There Yet for TBS and Anger Management for FX.