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News: "Major League," "Exorcist," and "Ace Ventura" Remakes Coming?

by Ken Miyamoto on September 24, 2015

Morgan Creek Productions, currently developing the biopic Tupac, has hired the investment banking group Houlihan Lokey to sell off the domestic rights to its library of seventy-eight films.

However, Morgan Creek will retain TV rights to all the films, but also in particular, they'll retain remake rights for five of its  titles — Ace Ventura: Pet Detective, Major League, Young Guns, Flying Tigers, and The Exorcist. They would then pay a percentage of the gross profit on any remake to the new owner of the library.

Since the company is debt free, Morgan Creek CEO Jim Robinson says the profit from any sale would go back into its film production fund.

“I’m selling the library strictly for economic reasons,” Robinson told Deadline. “It will go back into the company to fund more production. We have a number of properties that we are looking to move forward on.”

When asked if this news means that remakes for those particular titles are on the way, Robinson says ideas are being thrown about right now for The Exorcist, Major League, and Ace Ventura.

Other notable films in the library include True Romance, The Last of the Mohicans, and Robin Hood: Prince Of Thieves

In October 2014, Morgan Creek sold off its international distribution rights to Revolution Studios, which Roth founded and then sold to Fortress Investment Group, which manages billions in assets. That deal was done for $36.75 million for 64 titles. At that point, Morgan Creek retained the domestic distribution rights, so the company is selling the rights available.

With the current trend of studios turning their movies into television shows, it's no wonder that Morgan Creek was wise enough to retain TV rights to all of the titles. 

Source: Deadline

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