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| Paramount Pictures |
Vine Alternative Investments (“Vine”) has announced its second transaction this month with the acquisition of Manchester Library Company LLC (“Manchester”). The deal gives Vine a diverse slate of 30 theatrically released films which generated approximately $1.5 billion in worldwide box office receipts and includes notable films such as Limitless, Immortals, The Fighter, Dear John and The Strangers. The acquisition complements Vine’s portfolio of library assets and follows its April 2017 acquisition of a controlling interest in Village Roadshow Entertainment Group (VREG).
Stated Jim Moore, CEO of Vine: “The Manchester transaction reinforces Vine’s strategy to leverage and parlay our expertise in managing and owning scalable entertainment assets. This library has the right blend of genres, rights opportunities and evergreen appeal that fits within our asset program.”
Moore also assumed the title of Chairman, VREG earlier this month.
As part of the catalogue, Manchester holds the Rogue film library and several other independently released films. The library includes the underlying remake and sequel rights to many of the titles.
Vine was represented in the transaction by Morgan Lewis. The seller was advised by Evolution Media Capital and represented by O’Melveny & Myers.
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