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In the early 1990s, Twentieth Century Fox executives decided to emulate the commercial success of Disney's newly acquired Miramax studio.

The most notable of the releases under these banners include Suspiria, Bill Cosby: Himself, Eating Raoul, The Gods Must Be Crazy, Reuben, Reuben, and Ziggy Stardust and the Spiders from Mars. Prior to the creation of Searchlight, Twentieth Century Fox was active in the specialty film market, releasing independent and specialty films under the banner of 20th Century-Fox International Classics, later renamed 20th Century-Fox Specialized Film Division, then TLC Films. Searchlight Pictures was one of the 21st Century Fox film production companies that was acquired by Disney on March 20, 2019.ДЎ997 logo used as Fox Searchlight Pictures. Slumdog Millionaire is the studio's largest commercial success, with over $377 million (US) of box office receipts, against a production budget of only $15 million. The studio has grossed over $5.3 billion worldwide and amassed 26 Golden Globe Awards, 47 BAFTA awards, and 43 Academy Awards.

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Other Best Picture nominations include The Full Monty, Sideways, Little Miss Sunshine, Juno, Black Swan, 127 Hours, The Tree of Life, The Descendants, Beasts of the Southern Wild, The Grand Budapest Hotel, Brooklyn, Three Billboards Outside Ebbing, Missouri, The Favourite, and Jojo Rabbit. Searchlight is best known for distributing the films Slumdog Millionaire, 12 Years a Slave, Birdman, The Shape of Water and Nomadland, all of which won an Academy Award for Best Picture. Founded in 1994 as Fox Searchlight Pictures, Inc., the studio focuses primarily on producing, distributing and acquiring specialty films. (or simply Searchlight) is an American film studio that is a subsidiary of Walt Disney Studios, a division of The Walt Disney Company.