Goldman Sachs ready to sell its stake in Alliance Films (Reuters)

LOS ANGELES (TheWrap.com) ? Goldman Sachs is offloading its majority stake in Alliance Films, according to a report in the Financial Times.

A spokesperson for the investment firm did not immediately respond to requests for comment.

Alliance is a Canadian distributor and producer that has backed such notable films as "Insidious" and "Shame," as well as last year's Best Picture-winning "The King's Speech."

The company boasts a library of 11,000 films and distributes films from Relativity Media, Lionsgate, Focus Features, The Weinstein Company and CBS Films.

The Financial Times reports that Goldman has tapped the Bank of Montreal to oversee a sale of its two thirds stake in the company. Investissement Quebec owns the rest of the company.

Though the Financial Times report provides details of the firm's preparation for a sale, no reason is given for Goldman's decision to divest itself from the distributor.

Source: http://us.rd.yahoo.com/dailynews/rss/enindustry/*http%3A//news.yahoo.com/s/nm/20120103/media_nm/us_goldmansachs_alliance

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