Fortress Investment Group has bought British arthouse exhibitor and distributor Curzon in a deal that it claims will secure the company’s future across exhibition, distribution and streaming.
The acquisition, announced Tuesday, saw Fortress acquire the company from Charles Cohen’s Cohen Media Group in a foreclosure auction involving multiple Cohen assets, including the Landmark cinema chain. Fortress had lent Cohen $534 million but sued him earlier this year for default. Cohen acquired Curzon in late 2019 amid a buying spree by the U.S. real estate developer.
Financial details of the successful Fortress bid weren’t disclosed, but encompass Curzon’s 16-location theatrical footprint with 46 screens across the U.K., alongside its distribution arm Curzon Film and the Curzon Home Cinema streaming platform. The company said that the move secures positions for Curzon’s 350-plus workforce.
The venerable British outfit, which dates back to 1934, has been expanding its theatrical presence in recent years, launching new venues in Hoxton, Camden, Kingston-upon-Thames and Canterbury. Its distribution unit notched a notable win with “Kneecap,” which it helped develop. The Irish-language pic, released with Wildcard Distribution, has collected north of £2 million ($2.5 million) at the U.K. and Ireland box office and nabbed 14 British Independent Film Awards nominations.
The distribution arm also scored with Alice Rohrwacher’s “La Chimera,” which pulled in £930,000 ($1.1 million) including an 18-week engagement at Curzon Bloomsbury. Looking ahead, Curzon’s slate features Latvia’s Oscar entry “Flow” and Belgium’s Academy Awards submission “Julie Keeps Quiet.”
Curzon launched its streaming service in 2010, which is now available across multiple platforms and devices, reaching 6.5 million households.
The company has built its reputation over nine decades by introducing international cinema to British audiences, later bolstering its distribution muscle by absorbing arthouse label Artificial Eye in 2006. Curzon’s library features works from acclaimed helmers including Wim Wenders, Michael Haneke, Béla Tarr, Alice Rohrwacher and Ruben Östlund.
Fortress, which oversees $48 billion in assets, plans to support Curzon’s expansion of its theatrical footprint while advancing the company’s distribution and awards campaign strategies.
“Curzon is an iconic film company, with global recognition for its long legacy of releasing and connecting independent and critically acclaimed films to U.K. audiences,” said Allison Swayze, managing director at Fortress. “We’re pleased to acquire Curzon, and bring our support to the company’s dedicated team. Curzon has exciting near-term plans which include expanding its cinema footprint, and delivering awards and release plans for an exciting slate of films. Our acquisition secures the jobs of more than 350 employees, and helps Curzon continue to offer film fans a range of independent and blockbuster movies both in cinema and at home.”
