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Universal Agrees to Distribute Movies for Media Rights Capital

May 27 (Bloomberg) -- Universal Pictures agreed to distribute 20 movies for Media Rights Capital, the company that co-produced Universal releases including “Bruno” and “The Invention of Lying.”

The films will be released in the U.S. over five years, the Los Angeles-based companies said today in an e-mailed statement.

The agreement ensures major studio distribution for Media Rights Capital projects and provides Universal with revenue from fees. Universal parent General Electric Co. has agreed to sell a majority stake in NBC Universal, which includes the film studio and NBC television network, to cable TV provider Comcast Corp.

Media Rights Capital finances and produces films and television shows including HBO’s “The Life and Times of Tim.” Movies in development include “The Night Chronicles” from M. Night Shyamalan.

To contact the reporters on this story: Michael White in Los Angeles at mwhite8@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo in Los Angeles at apalazzo@bloomberg.net

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