Lakeshore Sells 300-Title Film and TV Library to Vine Alternative Investments

Lincoln Lawyer, Runaway Bride and Million Dollar Baby - Photofest-H 2019
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The New York-based asset management firm is building on its controlling interest in Village Roadshow.

Lakeshore Entertainment has found a new home for its film and television library. 

After putting its 300-plus titles on the auction block, the Beverly Hills-based film company has sold the collection to Vine Alternative Investments, a New York-based asset management firm that was founded in 2006. 

Additionally, the international service and sales operation of Lakeshore was sold to Vine, the companies said Wednesday. Terms of the deal weren't disclosed. 

The library sale is the latest salvo as conglomerates look to bulk up on film and TV content as multiple streaming services (from Apple to Disney to NBCUniversal and WarnerMedia) aim to challenge Netflix in the direct-to-consumer space. 

Lakeshore — which was founded in 1994 and is led by co-CEO/founder Tom Rosenberg and co-CEO Eric Reid — is behind such films as Million Dollar Baby, Runaway Bride, HeathersThe Lincoln Lawyer and the Underworld series.

The sale to Vine included 70 films that Lakeshore produced and also includes the worldwide distribution rights for many of the titles in the library, which includes Oscar winners as well as commercial franchises. 

Vine Alternative Investments had struck a co-financing deal with Lakeshore in 2015, saying at the time that it was set to produce 12 upcoming films from the company.

In April 2017, Vine took a controlling stake in Village Roadshow Entertainment Group (currently led by CEO Steve Mosko), two years after partnering with other investors to infuse it with $325 million in financing. Roadshow has co-financed the Matrix franchise, the Ocean's franchise, Mad Max: Fury Road, American Sniper and other titles.

The same month Vine took a majority interest in Roadshow, it also acquired the Manchester Library Company, which had a slate of 30 films including The Fighter, Limitless and Dear John.