Warg wrote:The "haze" is Hamiltons special style. I guess even with the rights to the movie you would not be allowed to destroy a piece of art. European countries are strangely very sensitive about this

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Legally speaking if you bought the rights to the movie, you could issue a re-release, extended cut (remember you get
all the original raw footage), 4K blu-ray edition, or whatever else you wanted to do with it. The old rightsholders no longer have a say in the matter.
I don't know exactly how much it would cost you. We're probably talking several hundred thousand US dollars even for an obscure indie film with limited annual sales - how much a movie earns every year from various sources determines what the property is worth. No clue how many DVDs they sell or how often this film airs on cable networks around the world. I recall they used to show it on Cinemax after midnight in the late 80's and early 90's but I haven't seen it on American TV in a long time.