The distributor of films like “Melancholia” and “John Lewis: Good Trouble” is reportedly seeking a buyer. Magnolia Pictures has hired investment bank Stephens to run a sale of the company, Deadline reported after the New York Times first broke word of a potential sale on Wednesday.
The move comes as consolidation is rapidly reshaping the industry for the streaming era. While it has amassed a diverse library of 500 films during its 20 years in business, Magnolia is a vastly different company than other recent Hollywood acquisitions targets, like MGM with its exploitable IP or Reese Witherspoon’s “Big Little Lies” production outfit Hello Sunshine.
The Hollywood Reporter once called Magnolia “one of the last indie distribution houses dedicated to art house fare.” Magnolia wants to find out what that might be worth in a time where box office revenues are down, but streaming has fueled a demand for content that has never been greater.
The move comes as consolidation is rapidly reshaping the industry for the streaming era. While it has amassed a diverse library of 500 films during its 20 years in business, Magnolia is a vastly different company than other recent Hollywood acquisitions targets, like MGM with its exploitable IP or Reese Witherspoon’s “Big Little Lies” production outfit Hello Sunshine.
The Hollywood Reporter once called Magnolia “one of the last indie distribution houses dedicated to art house fare.” Magnolia wants to find out what that might be worth in a time where box office revenues are down, but streaming has fueled a demand for content that has never been greater.
- 10/6/2021
- by Chris Lindahl
- Indiewire
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