Universal Pictures, owned by General Electric (NYSE: GE) launched Rogue Pictures in 2004 with the goal of producing "high-quality suspense, action, thriller and urban features with mainstream appeal and franchise potential." Now the studio is being sold to Relativity Media for about $150 million.

The studio has produced a few features including Fearless, The Strangers and Balls of Fury. The New York Times reports that "The transaction pointed toward G.E.'s willingness to bolster profit with help from an asset sale."

The deal isn't large enough to have a material impact on General Electric's stock price, but investors are probably generally pleased with the company's efforts to improve profitability by selling off marginal units. Still, I wonder: With the economy in a state where valuations are so depressed, why is GE getting involved in streamlining and "focus on core competencies" now? It seems like it would make more sense to make acquisitions when the economy is weak and then sell parts when the economy is booming and suitors pay attractive prices.

The Rogue acquisition includes a library of around 25 movies -- although that includes monstrosities like Seed of Chucky -- and another 30 development projects.