Prior to his death in November 2003 Betzer, who headed Panorama Films International, was in the final stages of developing a slate of high-profile literary properties with Astrablu.
Titles include: Jailbird, based on the Kurt Vonnegut novel with a screenplay by Buck Henry; Last Lovers, based on the William Wharton novel; A Loving Gentleman, which charts the torrid and long-lasting love affair between William Faulkner and Meta Carpenter; and Marilyn, based on Danish journalist Hans Jorgen Lembourn's 40-day love affair with Marilyn Monroe.
'The acquisition of the beloved Babette's Feast and the other titles, in conjunction with the development of our high-profile properties, allows us to aggressively expand our production slate,' Astrablu's president and chief executive officer Josi W Konski said.
'Just Betzer, was not only a partner, but a great friend with a keen eye for quality projects whose vision I highly respected.'
Astrablu's vice president of production Benni Korzen, European production partner Nina Crone, and attorney David E Hutchinson negotiated the acquisition with attorney Michael Vilhelm Nielsen of the Plesner law firm in Copenhagen on behalf of the Betzer estate.
Astrablu's latest production, National Lampoon's Cattle Call, is set to open through Lionsgate in March 2008. The company is developing a sequel, Cattle Call - Las Vegas, as well as the romantic comedy Miami Mambo, among others.