Indie studio Lions Gate has just brokered a deal with Modern Times Group to buy the rights to 332 films, including Conan the Barbarian and Milos Forman's Ragtime. No word on how much they paid, but many of the purchases are said to conclude all conceivable rights, in perpetuity. Lions Gate derives about 20 percent of its revenue from its library, which now clocks in at over 8,000 titles. Shares of Lions Gate stock, at two-month lows this week, went up 1.6 percent after the announcement.
categories Movies, Cinematical