U.S. Investor Fortress Acquires British Arthouse Cinema Group Curzon

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As a seasoned gamer and movie enthusiast who has spent countless hours immersed in both virtual worlds and real-life cinemas, I can’t help but feel a sense of nostalgia mixed with anticipation when it comes to the recent acquisition of Curzon by Fortress Investment Group.

Based in New York, Fortress Investment Group has recently purchased Curzon, a prominent movie house exhibitor and distributor in the United Kingdom, as both firms declared on Tuesday.

Through this deal, Fortress acquires dominance over Curzon’s 16 cinemas, which encompass 46 screens nationwide in the U.K., as well as Curzon Film (distribution arm) and Curzon Home Cinema (streaming platform). The specific financial terms of the contract remain undisclosed. Allison Swayze, managing director at Fortress, expressed that their company aims to facilitate Curzon’s forthcoming objectives in broadening its cinema presence and executing release strategies for an enticing collection of films. This acquisition ensures employment for over 350 individuals within Curzon, enabling them to continue providing a diverse selection of independent and blockbuster movies to film enthusiasts, both in theaters and at home.

Once again, within just a few years, I find myself celebrating another ownership change at Curzon – this time, with the news of Cohen Media Group’s acquisition back in 2019.

Recently, Fortress, a company overseeing approximately $48 billion in assets, has been on a shopping spree in the U.K. Back in April, they expanded their existing British ventures by purchasing Poundstretcher, a discount retailer based in the U.K. This acquisition followed their previous investments in Majestic Wine and Punch Pubs within the same market.

Curzon is among the oldest British film companies, tracing its roots back to 1934. It played a significant role in introducing international cinema to the island by screening some of the U.K.’s earliest foreign language films. The distribution arm of Curzon, Artificial Eye, which joined Curzon Group in 2006, has distributed notable films such as Bong Joon Ho’s “Parasite,” the highest-grossing foreign-language film in the U.K., and more recently, Maryam Moghadam and Behtash Sanaeeha’s Iranian drama “My Favourite Cake,” which grossed over £250,000 in the U.K., and Rich Peppiatt’s Irish-language feature “Kneecap,” which has amassed more than £2.5 million at both the British and Irish box offices.

Forthcoming Curzon showcases feature “Flow,” Latvia’s nominee for the Oscars, and “Julie Keeps Quiet,” the Belgian film submitted for consideration at the Academy Awards by Leonardo Van Dijl.

In 2010, Curzon launched its own streaming service, which now serves some 6.5 million households.

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2024-11-12 12:24