I got this info last year about the DVD release of the movie from Hank Sartin, Time Out Chicago film editor and critic:
Often, when a film that's respected and well-reviewed doesn't get a release, it means either the companies with the rights doesn't believe there's any money to be made, or there is a problem over who owns the rights (a lot of small or foreign films had complex contracts for video release rights, and disputes often spring up over who has the rights to the US release. For instance, Ruby in Paradise has come out on DVD in Spain...). Ruby was released by October Films, a company that got bought and resold about four times in the late 1990s and early 2000s. I believe the rights to their catalog of films are now held by Focus Features, but I'm not certain, because the rights to catalogs are sometimes sold off in these intricate deals.
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