Universal Sells Rogue to Relativity for $150m

Relativity Media has bought specialty division Rogue Pictures from Universal Pictures for approximately $150 million, reported the New York Times on Sunday. Relativity, run by CEO Ryan Kavanaugh, will now get Rogue's library of more than 25 titles, four upcoming films as well as 30 projects in development. It will also acquire a producing deal with horror film director Wes Craven. "It doesn't actually change the character of our company. It just further expands the business plan," Kavanaugh told the paper, adding that Rogue may now produce a broader range of supernatural horror and other films than it had made under the sometimes restrictive Universal. Kavanaugh's company continues to grow despite his legal troubles over two drunk-driving arrests, and litigation with industry lender Citigroup. Launched in 2004 as a division of Universal's Focus Features, Rogue became an independent specialty unit of the parent studio in 2007.