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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Asia Pacific World Search Search: Universal sells Rogue to financing partner AP - Tuesday, January 6 LOS ANGELES - Universal Pictures, a division of General Electric Co., has sold horror and thriller film label Rogue Pictures to its longtime financing partner Relativity Media LLC. NBC Universal spokeswoman Kori Bernards on Sunday confirmed the deal was closed shortly before Christmas but declined to confirm the sale price. The New York Times reported the deal was for about $150 million. Spokesmen for Relativity were not immediately available. In October, a person familiar with the deal talks cited a price tag of as much as $150 million for Relativity to acquire Rogue's brand, catalog and upcoming releases _ about four this year _ although Universal would continue to distribute its films. The deal comes after Universal Pictures agreed to distribute up to six movies a year from Steven Spielberg's DreamWorks studio, which split from Viacom Inc.'s Paramount Pictures. The sale of Rogue will reduce overhead expenses for Universal and represents a significant hedge in a weakening economy as Universal's film slate is about to expand to about 35 movies a year after DreamWorks' productions hit theaters around the end of 2009. Meanwhile, Relativity, run by dealmaker Ryan Kavanaugh, is seeking to get deeper into the film production business. Rogue is set to release four films in 2009 including the Wes Craven serial-killer horror movie "25/8," and "Fighting," starring Terrence Howard and Channing Tatum. Relativity announced in September it added up to $2 billion in new funds to co-finance about 75 percent of Universal's upcoming movies through 2015, or about 10 to 15 films a year. That deal added to a $1 billion agreement announced in February to help bankroll Universal movies through 2011. The pair have funded such recent hits as "Mamma Mia!" "The Mummy: Tomb Of The Dragon Emperor," and "Hellboy II: The Golden Army." The sale comes amid belt tightening at GE, which has been battered by the financial crisis and problems with its financing arm GE Capital. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Entertainment & Lifestyle Travolta says he is heartbroken at son's deathAP - 49 minutes ago Funeral held for `Star Trek' actress RoddenberryAP - 2 hours 36 minutes ago Universal sells Rogue to financing partnerAP - Tuesday, January 6 Danish writer Inger Christensen dies at age 73AP - Tuesday, January 6 LG high-def TVs to stream Netflix videos directlyAP - Monday, January 5 Most Popular – Entertainment Viewed US steel industry in collapse, eyes government aid: report Israeli army moves on Gaza City as war toll passes 510 France leads alarm over Gaza, splits with US Rare Bugatti untouched for 50 years could fetch millions: report John Travolta's teenage son dies, autopsy planned View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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