Morgan Creek Productions has hired the investment banking group Houlihan Lokey to sell off the domestic rights to its library of seventy-eight films.
The most interesting wrinkle in this story is that as part of any sale, Morgan Creek would not only retain TV rights to all the films but also retain remake rights for five of its key titles – “Ace Ventura: Pet Detective,” “Major League,” “Young Guns,” “Flying Tigers” and “The Exorcist”. They would pay a percentage of the gross profit on any remake to the new owner of the library.
With no debts on the books, Morgan Creek CEO Jim Robinson says the profit from any sale would go back into its film production fund which has obviously stirred rumors that at least some of those aforementioned potential remakes are in the works.
Asked directly if that’s the case, Robinson says remake ideas are being thrown about right now pertaining to “The Exorcist,” “Major League” and “Ace Ventura”.
Other films in the library include “True Romance,” “The Last of the Mohicans” and “Robin Hood: Prince Of Thieves”. Morgan Creek is also currently at work on a Tupac Shakur biopic.