Rank, the UK leisure groupand former pillar of the British film industry, will reportedly announce itsexit from the film business this week when it unveils plans to de-merge filmservices division Deluxe Films and sell Deluxe Media.
The group, which backed astring of films such as the Carry On comedy series, will unveil itsplans this week as part of its annual results, the Sunday Telegraph reported.
Deluxe Films will reportedlybecome a separately listed company valued at $573m (£300m). Deluxe Media, whichmakes and distributes DVDs and videos, is expected to be targeted by privateequity buyers.
Rank has already divesteditself of exhibition chain Odeon Cinemas and Pinewood Studios.