The film distributor, which is owned by Mark Cuban and Todd Wagner's 2929 Entertainment, is looking to capitalize on demand for content libraries from streaming services.
. Magnolia, like other independent distributors, typically acquires films from the festival circuit for wider distribution.
Magnolia is exploring what looks to be a sellers market, with a number of recent deals underscoring the demand for content. Last April, ViacomCBS snapped up a 49 percent stake in Miramax’s 700-film library, with titles from that collection available for streaming on Paramount+. And, in July, Lionsgate picked up 200 titles and a 20 percent stake in Spyglass Media.
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