Revolution Studios has been acquired by Los Angeles-based investment firm Content Partners and its affiliate CP Enterprises, Content Partners announced Wednesday.
The studio, which has been behind films like “xXx,” “Anger Management,” “Black Hawk Down” and “Daddy Day Care,” has been owned by investment funds since 2014.
Under the new ownership, Revolution Studios will continue as a stand-alone business, led by CEP Vince Totino and COO Scott Hemming, who will now also serve as the company’s president. Under the leadership of Totino and Hemming, Revolution acquired rights to 80 films and also produced “xXx: Return of Xander Cage,” which will hit theaters on Jan. 20.”
“We are extremely excited to begin this next chapter in the Revolution Studios story,” said Totino in a statement. “Content Partners, with its unique and successful investment strategy in entertainment properties, complements Revolution’s approach to exploiting film and television products across all media.”
Hemming added, “We have significantly expanded the Revolution library over the past two and a half years and validated that not only is there strong worldwide licensing demand for quality library content, there is significant value in derivate rights as well. We look forward to continuing this success with Content Partners.”
Revolution’s films have earned more than $7.1 billion at the box office. Other films include “Maid in Manhattan,” “Hellboy” and “White Chicks.” The studio, originally founded by Joe Roth in 2000, has also produced 240 television episodes.
Sidley Austin LLP represented Fortress Investment Group LLC in its sale of Revolution Studios to Content Partners.