UK Arthouse Chain Curzon Acquired By Fortress Investment Group

UK arthouse theater chain and distributor Curzon has been acquired by Fortress Investment Group. 

The deal was confirmed this morning, but we first reported yesterday that Fortress appeared to be the frontrunner to take control of Curzon after it was the only bidder for a handful of properties owned by Charles Cohen at a foreclosure auction Friday. Fortress bid $5 million for Curzon at the auction.

Charles Cohen acquired the Curzon brand in 2019. The deal included ownership of the company’s 16 UK cinemas, film distributor Curzon Film, and the Curzon Home Cinema streaming service.

Fortress lent Cohen $534 million backed by a handful of properties including Landmark and Curzon and sued him earlier this year for default. A New York State Supreme Court judge agreed to Fortress’ request for an auction to recoup what it could and set it for Nov 8.

Curzon said today in a statement that the Fortress deal will secure all the company’s physical locations, the distribution and streaming strands, and “preserve jobs of more than 350-strong team.”

“Curzon is an iconic film company, with global recognition for its long legacy of releasing and connecting independent and critically acclaimed films to UK audiences,” Allison Swayze, Managing Director at Fortress, said this morning.

“We’re pleased to acquire Curzon, and bring our support to the company’s dedicated team. Curzon has exciting near-term plans which include expanding its cinema footprint, and delivering awards and release plans for an exciting slate of films. Our acquisition secures the jobs of more than 350 employees, and helps Curzon continue to offer film fans a range of independent and blockbuster movies both in cinema and at home.”