The owners have hired an investment bank to handle it.
Magnolia Pictures was founded in 2001 and has about 500 films in its library, including “Blackfish” and “I Am Not Your Negro.” The company brought in around $30 million in sales last year and expects to generate $40 million this year.
Cuban and Wagner are partners in several other companies. One of their earliest endeavors was Broadcast.com, which they sold to Yahoo in 1999. More recently, sold Landmark Theaters to Charles Cohen in 2018.