LOS ANGELES — Horror production company Blumhouse has acquired a 50% stake in the long-running "Saw" franchise, buying the rights owned by producers Oren Koules and Mark Burg, the firm said Wednesday.

Santa Monica-based Lionsgate will continue to own 50% of the franchise, retain all domestic distribution rights for new feature films and still distribute worldwide for the library films. Los Angeles-based investment firm Content Partners has also acquired a stake in the library as part of the transaction, alongside Burg's retained share, Blumhouse said.

Financial details were not disclosed.

Blumhouse will take the lead on international distribution for new feature films and will discuss global release strategies with Lionsgate on a film-by-film basis.

Blumhouse Chief Executive Jason Blum described the deal in a statement as "a strategic investment in one of the most recognizable and successful genre properties of the last two decades." The 10-film franchise began in 2004 and has grossed more than a billion dollars in worldwide box office revenue.

"The Saw franchise has defined a generation of horror, and its cultural impact continues to grow," he said.

With this deal, the franchise returns to filmmaker James Wan, who directed the first "Saw" film. Wan's production company, Atomic Monster, merged with Blumhouse last year.

"Over the course of ten chilling and thrilling 'Saw' films, Oren and Mark have been outstanding partners, producers and stewards of this billion-dollar franchise," Adam Fogelson, chair of the Lionsgate Motion Picture Group, said in a statement. "As they pass the baton to James — whose direction started it all — and to Jason and the team at Blumhouse, Billy couldn't be in more gifted or twisted hands. Game on."

The deal was the brainchild of Lionsgate Chief Executive Jon Feltheimer and Blum, according to a person familiar with the matter not authorized to comment.

The original "Saw" from 2004 was part of a wave of particularly gruesome horror movies that came to be derisively described as "torture porn." Other examples included Eli Roth's "Hostel."

Horror franchise revivals have proved to be lucrative endeavors as of late, with hits including New Line's "Final Destination Bloodlines." The horror genre has been one of the most reliable at drawing fans to theaters in recent years, especially since the COVID-19 pandemic.

The most recent "Saw" film, 2023's "Saw X," grossed $53.6 million domestically and $58.6 million internationally for a global haul of $112.2 million, according to Box Office Mojo.

"With the success of the tenth film, this felt like the right time to pass the baton," Koules said in a statement. "I'm incredibly proud of what we've built with Lionsgate over the past 20 years and deeply grateful to the fans who've been with us since the beginning."

Burg cited the recent death of Lionsgate film executive and executive producer Jason Constantine as part of his decision to move on, saying in a statement that it was time to "tell new stories."

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