Outerlight Entertainment Acquires Bleecker Street

Outerlight Entertainment, the media investment firm formerly known as First Look Entertainment, has acquired Bleecker Street, the indie film studio behind Alex Gibney’s upcoming documentary “Musk.” Financial terms were not disclosed. Under the deal, Bleecker Street will continue to operate independently under CEO Kent Sanderson and president and chief marketing officer Tyler DiNapoli. Bleecker will retain control of its slate, acquisitions, distribution, marketing, filmmaker relationships and daily operations. Priorities for the combined companies include increasing Bleecker’s spending power as a buyer and distributor and muscling up Crosswalk, the studio’s event cinema label. Crosswalk’s recent releases include “Hadestown: The Musical” and “Stray Kids: The DominATE Experience.” “Bleecker Street is growing, and our ambition is to continue scaling the company while staying true to what has always made us distinctive,” said Sanderson. “Outerlight shares our belief in the power of cinema and the importance of theatrical moviegoing, and its long-term backing gives us additional capacity to pursue the opportunities we see across our core film business as well as compelling new avenues in the film space. We’re excited about what we can build from here.” Popular on Variety Outerlight’s portfolio of owned and operated companies includes Topic Studios and Puzzle Pictures. Bleecker Street was founded in 2014 by the late film executive Andrew Karpen. Its fall slate includes Anton Corbijn’s “A Talent for Murder,” starring Helen Mirren; Mike Leigh’s “Tender Loving Care,” starring Kate O’Flynn; Zachary Wigon’s “Victorian Psycho,” starring Maika Monroe; and Guy Nattiv’s “The Liberation,” starring Carrie Coon, Lily James, Odessa Young, Tracy Letts and Bella Ramsey. Previous Bleecker releases include “Spinal Tap II: The End Continues,” “Bone Lake” and “Stop! That! Train!” Bleecker Street Media was advised on the transaction by Sandy Climan of Entertainment Media Ventures and Matthew Wilkens of 44 Greenwich. Pryor Cashman represented Outerlight Entertainment on the transaction.