UPDATE: Now Focus has announced this.

I hear there was just a Focus Features staff meeting consisting of a video conference with Los Angeles, New York and London where CEO James Schamus and Christian Grass, president of Universal’s International Production Group, announced that they’re creating a new global company. It will consist of Focus Features domestically and Focus Features International in order to extend the Focus brand around the world and to pool the resources of the international production group. Under the new structure, which is supposed to facilitate local productions and distribution around the world, Schamus continues as CEO of Focus while Grass becomes co-CEO of Focus Features International.