Gramercy Pictures: Difference between revisions

'''Gramercy Pictures''' was founded in May 1992 as a joint venture between [[PolyGram Filmed Entertainment]] and [[Universal Pictures]]; at the time Universal and MCA were owned by Panasonic Corporation. 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, they acquired Gramercy, but sold it (along with [[October Films]]) 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 genre films; the label went dormant after the release of ''Ratchet & Clank'', and a year later, Universal started up a similar label, [[OTL Releasing]].