New Sparta Scoops Up 'Paranormal Activity' Film Distributor

Law360, New York (September 23, 2013, 1:34 PM EDT) -- British investment firm New Sparta said Monday that it has dipped into the movie business with the purchase of the U.K. film distributor behind several box-office hits, including "Drive" and "Paranormal Activity."

New Sparta, helmed by financier Jerome Booth, did not say how much it spent to acquire Icon Film Distribution, a 14-year-old subsidiary of the Icon U.K. Group, or how it would cover its purchase.

The deal gives New Sparta ownership of titles released through IFD's previous agreements with popular production house Lionsgate and the...
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