The Orchard, which has released indie films like “Hunt for the Wilderpeople” and “American Animals,” announced the sale of its film group on Thursday to 1091 Media. The terms of the deal were not disclosed.
The film group will proceed under a new company name and is still expected to make bids for films at the Sundance Film Festival this weekend.
1091 Media and its principals are growth investors who also lead Dimensional Associates, the private equity arm of The Orchard’s original owners, JDS Capital Management, Inc. From 2003-2015, they owned a variety of media companies through Dimensional, including The Orchard and Dimensional Music Publishing.
The Orchard is selling their film division to renew focus on its core music operations, with 1091 saying in a statement announcing the deal that the new company will “continue investments in content, and pursue further opportunities in video content and distribution through new technologies and delivery.”
Released in 2016 and directed by “Thor: Ragnarok” director Taika Waititi, “Hunt for the Wilderpeople” was The Orchard’s highest-grossing release with $5.2 million grossed from a maximum screen count of 200. Other films released by the outlet include the Sam Elliott drama “The Hero,” the Gael Garcia Bernal biopic “Neruda,” and the Oscar-nominated documentary “Cartel Land.”
The acquisition was first reported by Variety.