Morgan Creek to Put Film Library Up for Sale
The company's 78 films includes 'Ace Ventura: Pet Detective' and 'True Romance.'
Morgan Creek Productions is planning to sell the domestic rights to its library of 78 films and has hired investment banking group Houlihan Lokey to handle the sale, The Hollywood Reporter has confirmed.
The production company, overseen by James Robinson, said that it is currently debt-free but plans to use proceeds from the sale to fund future production such as its Tupac biopic, which is scheduled to go into production in December or January.
The library consists of such comedies as Major League and Ace Ventura: Pet Detective, as well as titles like Kevin Costner's Robin Hood: Prince of Thieves and the Quentin Tarantino-penned True Romance.
Morgan Creek. however, plans to retain the remake and TV rights to various titles. Eyed for possible remakes are Ace Ventura: Pet Detective and other properties, while on the TV front, it's retaining rights to Exorcist, Minor League, Dead Ringers, Nightbreed and others.
Morgan Creek sold off the international distribution rights to 64 of its titles in October of 2014 to Joe Roth's Revolution Studios — Robinson and Roth had together founded Morgan Creek in 1988. Revolution has since been sold to Fortress Investment Group.