A group of private investors has acquired Winstar TV & Video it was announced by president, Al Cattabiani. The company was previously owned by Winstar New Media, a division of Winstar Communications, a publicly traded broadband services company.

"We're delighted to have closed the sale," Cattabiani said. "As an independent company we'll be able to spike the momentum we've built up over the past few years. The new company will actually look very familiar to our employees, customers, programming partners and friends in the industry. Now we can roll up our sleeves and dig even deeper into doing what we do best: distribution and production of entertaining independent film, arts and wellness programming."

"We'll be especially busy over the next few months," Cattabiani continued. "We need to re-name, re-brand and re-launch the company. We'll announce the details as we sort them out. For now, we'll continue using the Winstar name."

Over the past several years, Winstar TV & Video has carved a reputation in the world of independent film with such releases as Under The Sand, Yi Yi, The Circle, Humanite, Pola X and many others.

The company will maintain its comprehensive distribution machine including theatrical, home video, international, direct response and production units. Upcoming releases include What Time Is It There' by Tsai Ming-Liang, Jacque Demy's Lola and Bay Of Angels, Paul Cox's Nijinsky and a retrospective of the works of Rainer Werner Fassbinder.