Nearly 40 companies expressed an interest in acquiring the library, which FTI then whittled down to nine potential buyers. It entered into exclusive talks with Quiver Entertainment after March 27. The financial details of the deal were not disclosed.Kew Media Collapsed Owing $13M To Clients Including Netflix & 'Leaving Neverland' Producer Amos
The sale has been far from straightforward. Prior to Kew Media Distribution going bust, a number of producers took action to terminate their contracts with the company after it failed to pay them royalties they were owed. The producers were alarmed to then discover that the distribution rights to their content was being sold by FTI.
. “I want to put them on notice that they are not entitled to sell that film,” BAFTA-winner Reed said in a message to a potential buyer, which we now know is Quiver. Meyerowitz and Sackman struck a conciliatory tone in statements announcing their acquisition of the Kew Media Distribution library. “We have inherited partnerships with some of the most creative and respected producers in the industry, and we look forward to growing this business together,” said Meyerowitz. Sackman added: “We are excited to collaborate with all of our customers to continue to make this content available to audiences far and wide.
Asked if Quiver will continue to exploit the global rights to disputed films, a representative told Deadline: “Quiver is eager to collaborate with all of its producers and content suppliers to distribute their content.”. Reed’s Amos Pictures was left nearly £523,000 out of pocket, while other notable creditors included CNN, Netflix, BBC Studios andHector And The Search For Happiness