Fortress: Acquisition of UK Arthouse Film Icon Curzon
Deal News | Nov 12, 2024 | Fortress Investment Group LLC (NYSE:FIG)
Fortress Investment Group LLC, a global investment manager, has acquired Curzon, a renowned UK arthouse film company. Curzon operates multiple cinemas across the UK, a film distribution business, and a home streaming service. Known for its pioneering role in bringing international and independent films to UK audiences, Curzon has a rich history dating back to 1934. The acquisition by Fortress aims to support Curzon's expansion plans and secure the jobs of over 350 employees. The company is set to expand its cinema network and continue its tradition of critically acclaimed film releases. Notable recent successes include the release of 'Kneecap' which grossed over £2 million, and 'La Chimera' with significant box office success. Curzon's upcoming projects include films 'Flow' and 'Julie Keeps Quiet,' both slated for Oscar representation. Fortress manages $48 billion of assets and operates across various investment strategies.
Sectors
- Film and Entertainment
- Investment Management
Geography
- United Kingdom – Curzon is based in the UK with operations across the country, including cinemas and distribution networks.
Industry
- Film and Entertainment – Curzon is a prominent player in the UK film industry, operating cinemas, a film distribution business, and a streaming service.
- Investment Management – Fortress Investment Group is involved in this acquisition as a global investment manager, highlighting its role in private equity and strategic investments.
Financials
- 2,000,000 – Gross box office revenue at UK and Ireland for the film 'Kneecap'.
- 930,000 – Box office revenue for 'La Chimera'.
- 48,000,000,000 – Fortress Investment Group's assets under management as of June 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fortress Investment Group LLC | Bidding Company | Company | A leading global investment manager, acquiring Curzon to expand its portfolio in the film industry. |
| Curzon | Target Company | Company | A UK-based company involved in film exhibition, distribution, production, and streaming. |
| Artificial Eye | Other Company | Company | A film distribution label that is a part of Curzon, known for independent film releases. |
| Allison Swayze | Managing Director at Fortress | Person | Executive at Fortress Investment Group commenting on the acquisition. |
| Wildcard Distribution | Other Company | Company | Partnered with Curzon in the release of the film 'Kneecap'. |