Bloomberg News

Paramount, Overture Finance Michael Moore's Next Film

May 13, 2008

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.

To contact the reporter on this story: Andy Fixmer in Los Angeles at afixmer@bloomberg.net

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net.


Reviving Keynes
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • VIAB
    (Viacom Inc)
    • $72.68 USD
    • -0.04
    • -0.06%
  • LGF
    (Lions Gate Entertainment Corp)
    • $33.13 USD
    • 0.05
    • 0.15%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus