Magnolia Pictures has planted itself in the movie distribution business. The company distributes primarily art house and foreign movies such as the documentary hit films Capturing the Friedmans, Control Room, and Enron: The Smartest Guys in the Room. Dallas Mavericks' owner Mark Cuban and his business partner Todd Wagner own Magnolia Pictures through their 2929 Entertainment holdings. The company has the ability to operate in tandem with sister firms (Landmark Theatres, high definition TV network HDNet, and studios 2929 Productions and HDNet Films) to release films simultaneously in the theater, on TV, and on DVD. Magnolia was founded in 2001 by movie execs Bill Banowsky (CEO) and Eamonn Bowles (president).
Magnolia's slate of 2007 films, including The Host, Crazy Love, Severance, Fay Grim, Diggers, and Color Me Kubrick, has failed to earn big at the box office. The following year the company's Swedish vampire film Let The Right One In appeared on many critics' lists as the best foreign language film of 2008. – less