Gramercy Pictures: Difference between revisions

'''Gramercy Pictures''' was founded in May 1992 as a joint venture between [[PolyGram Filmed Entertainment]] and [[Universal Pictures]]. The name of the company is derived from its parent companies, though it could also be a reference to '''Gramercy''' Park in New York City. Gramercy served as PolyGram Filmed Entertainment's US theatrical distributor and as Universal's art-house division. The Seagram Company would sell half of the studio to PolyGram on January 11, 1996, thus Gramercy became fully owned by the latter. When Seagram (then parent owner of Universal) bought PolyGram on New Year's Eve 1998, they acquired Gramercy, but later sold it (along with [[October Films]] and [[Interscope Communications]]) to Barry Diller's USA Networks (which Seagram owned a partial stake in), who renamed the combined operations [[USA Films]] (now "[[Focus Features]]"). In May 2015, Focus Features revived Gramercy for action, horror and sci-fi genre films. However, after only six films and due to the box office failure of ''Ratchet & Clank'', the label was discontinued again a year later. The following year, Universal started up a similar label, [[OTL Releasing]].