Universal Studios to Acquire Good Machine
As part of a reorganization of its specialty film business, Universal Studios said Thursday that it will acquire Good Machine, a highly successful producer of independent films, including Ang Lee’s hit “Crouching Tiger, Hidden Dragon.”
Financial terms of the deal were not disclosed.
Good Machine principals David Linde and James Schamus, based in New York, would manage the new specialty film unit, to be called Focus, reporting to Universal Pictures chief Stacey Snider. Focus would combine USA Films’ production marketing and distribution with Good Machine’s management team and international sales unit and produce up to 12 films a year.
The consolidation follows Vivendi Universal’s $11-billion acquisition of the film and television businesses of USA Networks Inc. Universal wanted to eliminate overlapping functions among the specialty film labels of Universal Focus, USA Films and Studio Canal USA.
Scott Greenstein, the current chairman of USA Films, who had been expected to lead the new label, would step down.