Fourteen years after launching the studio, founder Joe Roth has sold Revolution Studios to Fortress Investment Group in a deal reportedly worth $250m that sees him segue into a strategic advisor role.
Revolution ceased production in 2007 but had been responsible for a slew of titles, among them XXX, Black Hawk Down and Maid In Manhattan.
A newly reconfigured Revolution will train its sights on TV and exploit the film library.
Roth is a former chairman of Walt Disney Studios and 20th Century Fox and launched Revolution in 2000 as a strategic partnership with Starz Entertainment, Sony Pictures and 20th Century Fox.
Revolution CEO Vince Totino and COO Scott Hemming will continue to lead Revolution post-transaction, with a focus on growing the company with the support of Fortress.
Roth has signed a multi-year deal and will serve the studio in a strategic advisor role developing TV content.
“I’m excited for this next chapter for Revolution Studios and to continue doing what I love with the company – developing and producing projects,” said Roth. “Revolution is in good hands under the leadership of Vince and Scott, who will grow the company with the backing of a sophisticated investor with deep experience in the industry.”
“The time is right for us to expand the Revolution brand through the development of original projects as well as those that are based on the valuable intellectual property in the Revolution library,” said Totino.
“With Fortress’s financial resources and industry expertise and our continued partnership with Joe Roth, we plan to grow Revolution substantially in the coming years.”
“This is an extremely attractive investment for our funds, with significant inherent value in Revolution’s library of films and an exceptional management team in place that can now focus on growth through the development of new projects in television and film,” said Fortress MD Joshua Pack.