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Overture and out? Starz Media looks to exit pic financing.

Daily Variety

| July 06, 2010 | McClintock, Pamela | COPYRIGHT 2009 Reed Business Information, Inc. (US). (Hide copyright information)Copyright

John Malone's Starz unit wants out of the movie financing biz. That much has become clear in the wake of the departures Thursday of Overture CEO Chris McGurk and chief operating officer Danny Rosett.

It's understood that Starz is focused on completing the sale of the Starz Media division that houses Overture, Anchor Bay Entertainment, Film Roman and Starz Animation. There's a possibility that the companies would be sold off individually if they can't get much traction with the sale as a group.

Fate of the Starz Media division has been up in the air since shortly after former HBO chief Chris Albrecht joined the Starz parent company as prexy and CEO. Malone's Liberty …

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