Viacom Inc. (VIAB:US)'s Paramount Vantage and billionaire John Malone's Overture Films will finance and release director Michael Moore's sequel to ``Fahrenheit 9/11.''
Paramount Vantage will distribute the movie outside the U.S. and Overture, a division of Liberty Media Corp.'s Starz LLC, will handle domestic sales of the film, scheduled for release in 2009, the companies said today in a statement.
``Fahrenheit 9/11,'' released by Lions Gate Entertainment Corp. (LGF:US) in June 2004, garnered $119.2 million in U.S. and Canadian box-office sales, a record for a documentary, according to researcher Box Office Mojo LLC. The movie cost $6 million to produce. In the film, Moore accuses the Bush administration of manipulating the Sept. 11, 2001, terrorist attacks to justify wars in Afghanistan and Iraq.
Viacom Class B rose 66 cents to $39.56 at 2:39 p.m. in New York Stock Exchange composite trading. Shares of the New York- based media company controlled by billionaire Sumner Redstone had dropped 11 percent this year before today. Liberty Capital, a tracking stock of Liberty Media, gained 11 cents to $15.17.
Paramount agreed last year to distribute Overture films outside the U.S.
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