The film production company behind hits like Black Swan and The People Vs. Larry Flynt is to cease business in 2013 to allow Ceo Mike Medavoy to spend more time with his family.
Phoenix Films boss Medavoy tells Variety he plans to sell off the company's impressive library in two years, but will continue to produce movies, like What to Expect When You're Expecting and The Last Voyage of Demeter, under the banner.
He says, "I want to do what excites me and I want to spend more time with my family, since I now have a 13-year-old son."
Medavoy has been a former head of operations at United Artists, Orion and Columbia.
Seven of the 300-plus films he has produced have won Oscars.