Outerlight Entertainment, formerly known as First Look Entertainment, has acquired independent feature film studio Bleecker Street Media. Financial terms of the deal were not disclosed.
Currently, Bleecker Street has the Alex Gibney-directed documentary Musk in release, about SpaceX and Tesla boss Elon Musk.
Founded in 2014 by the late film executive Andrew Karpen, Bleecker Street has built itself into a library counting close to 100 titles. It will continue to be led by its current CEO Kent Sanderson, who took over the auteur distribution label following Karpen’s death last year. Chief Marketing Officer Tyler DiNapoli will also remain at Bleecker following the acquisition.
Outerlight’s purchase of Bleecker will provide the distributor with long-term capital and additional resources for growth. With its new owner, it will be business as usual: Bleecker Streer will remain an active buyer and distributor in the indie sphere, and their current slate and existing commitments will continue without disruption.
It will continue to manage its own slate, acquisitions, distribution strategy, marketing, filmmaker relationships and day-to-day operations. With the backing of Outerlight, it plans to increase its investment in its existing film business while expanding new growth initiatives, including sister cinema event label Crosswalk.
Bleecker Street Media was advised on the transaction by Sandy Climan of Entertainment Media Ventures and Matthew Wilkens of 44 Greenwich. Pryor Cashman represented Outerlight Entertainment on the transaction.
“Bleecker Street is growing, and our ambition is to continue scaling the company while staying true to what has always made us distinctive,” said Sanderson. “Outerlight shares our belief in the power of cinema and the importance of theatrical moviegoing, and its long-term backing gives us additional capacity to pursue the opportunities we see across our core film business as well as compelling new avenues in the film space. We’re excited about what we can build from here.”
Outerlight’s portfolio includes such companies as Topic Studios and Puzzle Pictures, along with investments in MHz Choice and Passionflix, plus other targeted investments and joint ventures.
Bleecker’s other fall theatrical releases include Anton Corbijn’s A Talent for Murder, starring Helen Mirren; Mike Leigh’s Tender Loving Care, starring Kate O’Flynn; Zachary Wigon’s Victorian Psycho starring Maika Monroe; and Guy Nattiv’s The Liberation, starring Carrie Coon, Lily James, Odessa Young, Tracy Letts and Bella Ramsey. Crosswalk recently released Hadestown: The Musical, which grossed more than $20 million stateside during its limited theatrical run and became the highest-grossing live theater capture to date. It also released concert film Stray Kids: The DominATE Experience earlier in the year, which was the No. 1 movie at the global B.O. upon its opening weekend.
Crosswalk has George Michael: The Faith Tour opening in December.