The Orchard Film Group has been acquired by 1091 Media, an investment group affiliated with the team of a holding company that once owned the indie distributor. Terms were not disclosed, but 1091 said it will continue operations of the film and TV business under a new name, and that it will look to invest in content and distribution with a focus on new technologies and delivery.
The announcement was made Thursday on the kickoff of the Sundance Film Festival, where The Orchard often struggled to make an impact in securing deals amid stiff competition. Recent Park City pickups included American Animals last year and the Sam Elliott-starrer The Hero in 2017.
In a press release, The Orchard said it decided to divest its film and TV division to focus on its core music operations.
1091 Media and its principals are growth investors who also lead Dimensional Associates, the private equity arm of JDS Capital Management Inc. From 2003-2015, they owned a variety of media companies through Dimensional including The Orchard.
Variety first broke this news today.