Revolution Studios today announced its purchase — considered a passive investment — of a 50% ownership stake in the 2011 film The Ides of March. The remaining 50% share of the film continues to be held by production company Exclusive Media Group. The film grossed over $75M worldwide and was nominated for an Oscar for Best Adapted Screenplay.
The acquisition completes a two-picture obligation with Cross Creek Pictures following Revolution’s purchase of a 50-percent stake in 2010 Best Picture Oscar-nominee Black Swan earlier this year.
The Ides of March was directed by George Clooney and starred him, Ryan Gosling, Philip Seymour Hoffman, Paul Giamatti, Evan Rachel Wood and Marisa Tomei in what was a political drama set during a no-holds-barred presidential campaign.
“We are delighted to have the opportunity to buy an equity stake in these two great films,” said Revolution Studios’ COO Scott Hemming. “These are exactly the types of properties we are looking for as we continue to expand Revolution’s catalog through strategic acquisitions.”
The company was founded by studio executive turned producer Joe Roth in 2000 and was subsequently purchased in June 2014 through funds managed by affiliates of Fortress Investment Group. Since its founding, Revolution Studios has been amassing a library of 46 films,including Black Hawk Down, Maid in Manhattan, Anger Management, Daddy Day Care, America’s Sweethearts, XXX and White Chicks, which collectively earned more than $3.7 billion in box office receipts.
Most recently, Revolution has developed and produced multiple syndicated television series, including Are We There Yet? for TBS; Anger Management, starring Charlie Sheen, with Lionsgate for FX, and Drew Carey’s Improv-A-Ganza for GSN.
In October 2014, Revolution acquired the 64-title Morgan Creek International library. The domestic rights for Morgan Creek’s library is now on the block.