Oct 21 (Reuters) - General Electric Co’s (GE.N) Universal Studios is in advanced talks to sell one of its two specialty film labels to Relativity Media, the New York Times said.
Universal is looking to sell Rogue Pictures, an indie unit that makes about four films a year in the horror and teen comedy genres, the paper said citing people with knowledge of the situation who spoke on condition of anonymity because the negotiations are private.
Universal’s talks with Relativity, a private production and financing company, have been advancing over the course of several months, the paper said. It did not give a figure for the potential value of the deal.
The sale would include about 25 library titles and more than 30 projects in development, the paper said.
Universal would continue to distribute and market Rogue’s movies, according to the paper.
Last month, Universal Pictures extended a co-financing deal with Relativity that will provide $3 billion to Universal over the next seven years for dozens of big-budget films, the paper said.
Universal and Relativity could not be immediately reached for comment. (Reporting by Ajay Kamalakaran in Bangalore)