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Overture Films
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Overture Films was an American film production and distribution company and a subsidiary of Starz (then subsidiary of Liberty Media).[1][2] It was founded in November 2006 by Chris McGurk and Danny Rosett.[3] Through its affiliated companies Anchor Bay Entertainment, Starz Entertainment Pay Channels, Starz Media, and Starz Play, Overture Films had made its films available worldwide to viewers across multiple platforms via their home video, premium television, and Internet distribution channels.
Key Information
Although the studio had some minor critical successes with films like Sunshine Cleaning, Last Chance Harvey, Law Abiding Citizen, and The Men Who Stare At Goats, the company had happened to suffer poor box office returns, and Starz had closed the company in 2010,[4] even though rumors circulated early that year that it would be sold off.[5] Its marketing and distribution assets are now handled by Relativity Media.[1][2][6]
Released movies
[edit]| Title | Release date |
|---|---|
| Mad Money | January 18, 2008 |
| Sleepwalking | March 14, 2008 |
| The Visitor | April 18, 2008 |
| Henry Poole Is Here | August 15, 2008 |
| Traitor | August 27, 2008 |
| Righteous Kill | September 12, 2008 |
| Nothing Like the Holidays | December 12, 2008 |
| Last Chance Harvey | January 16, 2009 |
| Sunshine Cleaning | March 27, 2009 |
| Paper Heart | August 7, 2009 |
| Pandorum | September 25, 2009 |
| Capitalism: A Love Story | October 2, 2009 |
| Law Abiding Citizen | October 16, 2009 |
| The Men Who Stare at Goats | November 6, 2009 |
| The Crazies | February 26, 2010 |
| Brooklyn's Finest | March 5, 2010 |
| Jack Goes Boating | September 17, 2010 |
| Let Me In | October 1, 2010 |
| Stone | October 8, 2010 |
Notes and references
[edit]- ^ a b "Overture Films, LLC: Private Company Information - Businessweek". bloomberg.com. Bloomberg Business. Archived from the original on June 26, 2015. Retrieved June 25, 2015.
- ^ a b "Starz Announces Resignations of Overture Films Executives". Starz Investor Relations. Retrieved June 25, 2015.
- ^ Block, Alex Ben (July 5, 2010). "The story behind Overture chiefs' exits". The Hollywood Reporter. Associated Press. Retrieved January 12, 2025.
- ^ "Overture Films to shut down, unable to fetch desired price". Los Angeles Times. July 24, 2010. Retrieved March 22, 2023.
- ^ Graser, Marc (February 13, 2010). "Buyers confront dropping value of film libraries". Variety. Retrieved January 15, 2022.
- ^ "Relativity Media Takes Over Overture Films". ComingSoon.net. July 24, 2010. Retrieved January 15, 2022.
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Overture Films
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Overture Films was an American independent film production and distribution company that operated from 2006 to 2010 as a subsidiary of Starz, LLC, under the ownership of Liberty Media Corporation.[1][2]
Founded in November 2006 by industry veterans Chris McGurk as CEO and Danny Rosett as COO, with financial backing from Liberty Media chairman John C. Malone, the company was established to focus on acquiring, producing, and distributing low-to-mid-budget films, typically under $30 million, targeting theatrical releases in the United States.[1][2] It launched with $325 million in financing, including bank loans, equity from Liberty Media, and debt, and inherited distribution assets such as Anchor Bay Entertainment for home video and a pay-TV deal with Starz/Encore from prior acquisitions by Liberty Media.[1] Overture's strategy emphasized a diversified portfolio of independent films to mitigate risks, aiming for conservative box-office performance of under $45 million per title while leveraging ancillary revenue from television and DVD sales through its parent company's networks.[2]
Among its notable releases, Overture distributed films such as Mad Money (2008), its first wide theatrical release starring Diane Keaton, Queen Latifah, and Katie Holmes; Righteous Kill (2008), a thriller with Robert De Niro and Al Pacino that grossed over $40 million domestically; The Visitor (2008), which earned $9.4 million; and Sunshine Cleaning (2009), grossing $12.1 million.[1][2] Other key titles included Traitor (2008) starring Don Cheadle, Last Chance Harvey (2008) with Dustin Hoffman and Emma Thompson, and later successes like Law Abiding Citizen (2009), alongside acquisitions such as Pandorum (2009).[1][3] The company built its slate through aggressive acquisitions at festivals like Cannes and Sundance, including high-profile deals like Righteous Kill for $10 million.[1][2]
In July 2010, after less than four years of operation, the company shut down when Liberty Media failed to secure a satisfactory sale price amid declining DVD revenues, industry oversaturation, and Malone's waning interest in the film business.[3] McGurk and Rosett resigned shortly before the closure; Overture's library of fewer than 20 films was transferred to Starz for ongoing distribution, which was acquired by Lionsgate in 2016 and now handles the library, while its theatrical operations were handed to Relativity Media, which absorbed 43 employees and laid off 20 others with severance.[3][4]
This catalog encompasses all domestic theatrical releases by Overture Films and excludes any television broadcasts or direct-to-video titles handled through affiliates such as Anchor Bay Entertainment.
History
Founding and early development
Overture Films was established in November 2006 in Beverly Hills, California, as a new motion picture production and distribution company.[5] The studio was founded by industry veterans Chris McGurk, who served as CEO, and Danny Rosett, who took on the role of COO. McGurk brought extensive experience from his time as vice chairman and chief operating officer at Metro-Goldwyn-Mayer (MGM) from 1999 to 2005, where he contributed to the studio's revival and eventual sale.[5] Rosett, meanwhile, had held various executive positions at MGM since 1994, including as president of United Artists, overseeing production on notable films such as Hotel Rwanda and Legally Blonde.[5] Their combined expertise in distribution and production was seen as key to navigating the competitive independent film landscape.[6] As a wholly owned subsidiary of Starz, LLC—a unit of Liberty Media Corporation—Overture benefited from significant financial backing provided by its parent company.[7] Liberty Media, led by billionaire investor John C. Malone, committed up to $240 million annually to fund the studio's operations, covering overhead, negative costs, and print and advertising expenses for its projects.[8] This investment positioned Overture as a fully integrated entity capable of handling all aspects of filmmaking without relying on external financing for core activities.[5] The studio's mission focused on producing and acquiring mid-budget films, typically budgeted between $20 million and $30 million, aimed at adult audiences seeking character-driven stories rather than blockbuster spectacles.[9] Overture planned to release eight to twelve films per year, with a mix of approximately 60% original productions and 40% acquisitions, emphasizing quality over quantity in a market dominated by high-stakes tentpoles.[10] To maximize reach, the company leveraged Starz's premium pay-TV channels for domestic promotion and ancillary revenue, while Anchor Bay Entertainment handled home video distribution and international sales, ensuring global accessibility for its titles.[11] In early 2007, Overture revealed its initial slate, marking its entry into the acquisition market with the purchase of U.S. rights to Ferris Wheel, a drama starring Charlize Theron, acquired during the Sundance Film Festival for around $3 million.[12] This move signaled the studio's strategy of selective pickups to complement in-house developments, with the film positioned as a potential late-2007 release to build momentum.[13]Key productions and operations
Overture Films operated as an integrated film production and distribution entity, primarily acquiring completed independent films for domestic theatrical release while selectively co-producing originals, with project budgets typically kept under $25 million and averaging around $20 million to ensure profitability thresholds as low as $45 million in box office returns.[2] The company leveraged its parent Starz's cable network for promotional tie-ins, such as pay-TV premieres that extended audience reach post-theatrical runs, and partnered with Anchor Bay Entertainment for home video distribution, including DVD and Blu-ray releases, to create a vertically aligned revenue stream across windows.[4][14] Key partnerships bolstered Overture's global footprint, including financial backing from Liberty Media and international sales handled through alliances like Paramount Vantage, which managed overseas rights for titles up to The Crazies in 2010.[2] Although later collaborations emerged with entities like Relativity Media following asset transitions, during its active phase Overture emphasized co-financing arrangements with production partners such as Participant Media and Imagenation for genre-driven projects, enabling shared risk on mid-budget ventures.[15] From 2008 to 2010, Overture oversaw 19 theatrical releases, prioritizing a mix of genres including thrillers, dramas, and comedies targeted at niche and broader audiences, with notable acquisitions like the indie drama The Visitor, which exemplified its strategy of securing festival standouts for platform releases.[16][2][17] The 2008 financial crisis posed significant internal challenges, causing delays in film acquisitions as foreign presales evaporated and DVD sales declined, forcing Overture to pivot toward more commercially viable titles like action-thrillers to offset the contraction in the indie market.[18][2] The year 2009 marked Overture's operational peak, featuring multiple high-profile releases such as the satirical comedy The Men Who Stare at Goats, alongside Law Abiding Citizen and Sunshine Cleaning, which highlighted its balanced slate of acquisitions and co-productions amid intensifying market pressures.[19][2]Shutdown and aftermath
By mid-2010, Overture Films faced significant financial strain, with its overall slate grossing approximately $558 million worldwide against substantial production and operational costs exceeding initial financing expectations. Rumors of a potential sale or shutdown circulated as early as May 2010, amid ongoing efforts by parent company Liberty Media to divest the unit.[20][21][22] Tensions escalated when founders and executives Chris McGurk and Danny Rosett resigned on July 1, 2010, following disputes with Liberty Media and Starz leadership over funding, including a denied request for $50 million to market upcoming releases. The conflict highlighted broader disagreements on the company's direction, as Liberty sought to sell Overture for around $225 million plus assumption of $100 million in debt, but received bids deemed insufficient. As a result, Relativity Media absorbed 43 employees to handle the theatrical operations, while approximately 20 employees were laid off with severance packages, and three were transferred to Starz.[18][7][3] Overture's closure was formally announced on July 23, 2010, by Starz, ending its three-year run as an independent production and distribution entity unable to secure a buyer at the desired price. Marketing and distribution rights for remaining films, including "Stone," were transferred to Relativity Media under a services agreement, allowing those titles to proceed to release. The shutdown was exacerbated by the post-2008 recession's impact on independent film distribution, including declining DVD sales and an oversaturated market.[23][24][3] In the aftermath, Overture's film library of fewer than 20 titles was retained by Starz units like Anchor Bay for home entertainment and television licensing. The library ultimately transferred to Lionsgate following its $4.4 billion acquisition of Starz in December 2016. Certain projects in development, such as "Haywire," were completed and distributed by Relativity Media in 2011 after Overture's acquisition efforts fell through amid the collapse.[3][25][26]Filmography
Theatrical releases
Overture Films managed the domestic theatrical distribution for 19 feature films from 2008 to 2010. These releases spanned various genres, including dramas, thrillers, comedies, and documentaries, often acquired from independent producers or studios for U.S. theatrical rollout. The company's output focused exclusively on wide and limited theatrical releases in the United States, leveraging partnerships for international and ancillary markets. The following table provides a chronological listing of these films, including their U.S. release dates and directors.| Title | U.S. Release Date | Director |
|---|---|---|
| Mad Money | January 18, 2008 | Callie Khouri |
| Sleepwalking | March 14, 2008 | William Maher |
| The Visitor | April 11, 2008 | Thomas McCarthy |
| Henry Poole Is Here | August 15, 2008 | Mark Pellington |
| Traitor | August 27, 2008 | Jeffrey Nachmanoff |
| Righteous Kill | September 12, 2008 | Jon Avnet |
| Nothing Like the Holidays | December 12, 2008 | Alfredo De Villa |
| Last Chance Harvey | December 25, 2008 | Joel Hopkins |
| Sunshine Cleaning | March 13, 2009 | Christine Jeffs |
| Paper Heart | August 7, 2009 | Nicholas Jasenovec |
| Pandorum | September 25, 2009 | Christian Alvart |
| Capitalism: A Love Story | September 23, 2009 | Michael Moore |
| Law Abiding Citizen | October 16, 2009 | F. Gary Gray |
| The Men Who Stare at Goats | November 6, 2009 | Grant Heslov |
| The Crazies | February 26, 2010 | Breck Eisner |
| Brooklyn's Finest | March 5, 2010 | Antoine Fuqua |
| Jack Goes Boating | September 17, 2010 | Philip Seymour Hoffman |
| Let Me In | October 1, 2010 | Matt Reeves |
| Stone | October 8, 2010 | John Curran |