Indie Studio Black Bear Explores Potential Sale

Black Bear Pictures, an independent film studio, is reportedly exploring options for a potential sale and has engaged in preliminary discussions with interested parties. The company's domestic distribution arm, launched last summer, has seen recent success with the heist thriller 'Tuner.' The film opened to $102,000 in its first three days across four theaters in New York and Los Angeles, with projections for $122,000 over the four-day holiday weekend.

'Tuner' is slated for a moderate national expansion to approximately 375 screens next week. This move aims to build on word-of-mouth for the critically acclaimed film, which stars Leo Woodall and features Dustin Hoffman. Black Bear's strategy involves releasing a diverse slate of up to 12 films annually, encompassing critically acclaimed projects and broader genre titles. Previous releases include 'Christy,' 'Shelter,' and 'In The Grey.'

The company's distribution efforts extend to Canada, the U.K., and Ireland through its subsidiary Elevation Pictures. Other films from the industry mentioned include Neon's 'I Love Boosters,' which grossed an estimated $3.72 million over the weekend, and IFC Films' 'Saccharine,' which earned $53,000. Focus Features' 'Obsession' has shown strong legs, with a projected four-day gross of $28.2 million and a cumulative total of $58.5 million.