Ryan Kavanaugh’s Relativity Media has announced that it has acquired Overture Film’s distribution and marketing operation from Starz LLC which allows for Relativity to become a full service studio. About 2/3 of the Overture staff will be moved over to Relativity during the transition, including executives Peter Adee and Kyle Davies, who will retain their titles.
Relativity recently struck a favorable deal with Netflix. The Overture film library was not part of the deal, it will stay under the Starz umbrella. Starz will also retain Anchor Bay home video.
Previously, Relativity has had to distribute its films through other companies, but now it will be able to distribute its own movies, including Rogue pictures. Relativity hopes to put out 25 titles by 2012.
Now Overture will release its last three films, Stone, Jack Goes Boating, and Let Me In through Relativity. Chris Albrecht, Starz LLC, expressed that an increased emphasis on original programming helped shape the decision. He also was pleased that many of Overture’s employees would be able to retain their jobs after the move.
Relativity is the company behind this weekend’s Salt.