U.S.-based venture capital firm Raven Capital Management has completed the acquisition of assets from film distributor Open Road.
Under the deal, Raven Capital Management paid $87.5 million for the assets, including rights to 45 released film titles in the Open Road library.
Under the deal, Raven Capital will take over rights to all finished films in the Open Road library with the exception of the box office flop A.X.L. The line-up includes films such as Nightcrawler, Chef, The Grey, The Nut Job and Oscar-winner Spotlight.
Moreso, Raven Capital is seeking to exploit the Open Road library both by licensing the finished films and developing the underlying Internet Protocol address for future projects.