Lionsgate has moved one step closer to spinning off its film and TV studios business in a Special Purpose Acquisition Company (Spac) to create a separately traded public company.
Screaming Eagle Acquisition Corp., a Spac — often referred to as a blank check company — led by Spac sponsor Eagle Equity Partners and CEO Eli Baker in an SEC filing on Tuesday said the registration statement for the proposed merger has been declared effective by the U.S. Securities and Exchange Commission, which should pave the way for the deal to close and Lionsgate Studios to launch as a standalone company in early May by listing on Nasdaq under the ticker symbol Lion.
The merger prospectus has been mailed to Screaming Eagle’s shareholders and public warrant holders, and extraordinary shareholders meetings have been called for May 7. “The parties anticipate that the business combination will close in early May, subject to satisfaction...
Screaming Eagle Acquisition Corp., a Spac — often referred to as a blank check company — led by Spac sponsor Eagle Equity Partners and CEO Eli Baker in an SEC filing on Tuesday said the registration statement for the proposed merger has been declared effective by the U.S. Securities and Exchange Commission, which should pave the way for the deal to close and Lionsgate Studios to launch as a standalone company in early May by listing on Nasdaq under the ticker symbol Lion.
The merger prospectus has been mailed to Screaming Eagle’s shareholders and public warrant holders, and extraordinary shareholders meetings have been called for May 7. “The parties anticipate that the business combination will close in early May, subject to satisfaction...
- 4/17/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Lionsgate CEO Jon Feltheimer recently picked up shares of the company on the open market and vice chair Michael Burns said today he thinks the purchase was spurred by a visit the set of the upcoming Michael Jackson biopic.
“He is pretty fiscally conservative in many ways and so that was actually interesting to see him do it, and I swear he bought it because he went to the set — we are shooting the Michael Jackson movie on the Sony lot – and he just came back and just said, ‘This thing is going to be incredible’,” Burns said at a Deutsche Bank media conference today.
According to an SEC filing Monday, Feltheimer acquired 100,000 shares, half each Class A and B shares.
Burns was talking up the studio ahead of an upcoming split with Starz. He confirmed that about 13%-15% of the studio’s equity will move into a Spac and...
“He is pretty fiscally conservative in many ways and so that was actually interesting to see him do it, and I swear he bought it because he went to the set — we are shooting the Michael Jackson movie on the Sony lot – and he just came back and just said, ‘This thing is going to be incredible’,” Burns said at a Deutsche Bank media conference today.
According to an SEC filing Monday, Feltheimer acquired 100,000 shares, half each Class A and B shares.
Burns was talking up the studio ahead of an upcoming split with Starz. He confirmed that about 13%-15% of the studio’s equity will move into a Spac and...
- 3/12/2024
- by Jill Goldsmith
- Deadline Film + TV
Shares of Lionsgate are trading higher after Barrington Research issued an upgrade to overweight and set a price target of $12 for the Hollywood studio.
Analyst James Goss in a Monday investors note said Lionsgate after many delays unveiling plans to spin off its film and TV studio business from Starz via a Spac deal promises greater shareholder value for the studio and its TV streaming assets after the Hollywood major considered strategic alternatives.
Goss argued the Spac deal, expected to close in April, heralds “a publicly traded subset of the studio business that would provide both some public affirmation of value and create a focus on the studio identity, while also drawing somewhat of a line in the sand in terms of transaction timing.”
Also Monday, Lionsgate CEO Jon Feltheimer in an SEC filing disclosed he picked up 100,000 shares in the studio. Feltheimer acquired 50,000 class A share at an average...
Analyst James Goss in a Monday investors note said Lionsgate after many delays unveiling plans to spin off its film and TV studio business from Starz via a Spac deal promises greater shareholder value for the studio and its TV streaming assets after the Hollywood major considered strategic alternatives.
Goss argued the Spac deal, expected to close in April, heralds “a publicly traded subset of the studio business that would provide both some public affirmation of value and create a focus on the studio identity, while also drawing somewhat of a line in the sand in terms of transaction timing.”
Also Monday, Lionsgate CEO Jon Feltheimer in an SEC filing disclosed he picked up 100,000 shares in the studio. Feltheimer acquired 50,000 class A share at an average...
- 3/11/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
The V.I.P. opening day of the Frieze Los Angeles art fair felt like a family affair as Hollywood power players and art world elites met and mingled to view the best works from galleries around the world. Held at the Santa Monica Airport for the second year running, the all-day event on Thursday, Feb. 29, felt breezier this year, as a new design and 20 percent fewer galleries gave A-listers the space to peruse and schmooze.
One couldn’t go two feet without shaking hands with an old friend or coming upon a clutch of Hollywood insiders. Old pals Will Ferrell, Owen Wilson and Luke Wilson — the first two movie star incognito in baseball caps — chatted with Lacma director and CEO Michael Govan in front of one booth, while bigwig agents-slash-collectors from Endeavor, CAA and UTA were out in force, some swarming together in packs. Ari Emanuel, CEO of Endeavor,...
One couldn’t go two feet without shaking hands with an old friend or coming upon a clutch of Hollywood insiders. Old pals Will Ferrell, Owen Wilson and Luke Wilson — the first two movie star incognito in baseball caps — chatted with Lacma director and CEO Michael Govan in front of one booth, while bigwig agents-slash-collectors from Endeavor, CAA and UTA were out in force, some swarming together in packs. Ari Emanuel, CEO of Endeavor,...
- 3/1/2024
- by Hadley Meares
- The Hollywood Reporter - Movie News
Lionsgate Television Chairman Kevin Beggs says a transformed marketplace has taken shape in the wake of last year’s dual strikes and waves of cost-cutting affecting many TV players.
“They’re ordering fewer shows, and there’s a lot of focus on the budget levels of those shows and a little more financial discipline compared to the bake-off streaming wars that we saw leading up to the Covid era,” Beggs said during the company’s quarterly earnings call. “But there’s still a big demand for shows. They need originals. Originals build subs, drive advertising. But the bar is a little higher. They need them to be packaged. They need them to be noisy.”
Beggs put in a plug for Lionsgate’s strategy, saying the shift on the buy-side “really speaks to our strengths of putting together great packages and also delivering on various budget levels and shooting in tax-friendly...
“They’re ordering fewer shows, and there’s a lot of focus on the budget levels of those shows and a little more financial discipline compared to the bake-off streaming wars that we saw leading up to the Covid era,” Beggs said during the company’s quarterly earnings call. “But there’s still a big demand for shows. They need originals. Originals build subs, drive advertising. But the bar is a little higher. They need them to be packaged. They need them to be noisy.”
Beggs put in a plug for Lionsgate’s strategy, saying the shift on the buy-side “really speaks to our strengths of putting together great packages and also delivering on various budget levels and shooting in tax-friendly...
- 2/9/2024
- by Dade Hayes
- Deadline Film + TV
Lionsgate CEO Jon Feltheimer conceded to having a degree of concern about IATSE’s July 31 strike deadline, but he remains “hopeful” that a work stoppage can be averted.
“I’m the CEO of a public company. I worry about everything every day,” the exec said in response to a Wall Street analyst’s question about IATSE during the company’s fiscal third-quarter earnings call. “Nobody really wins in a strike, honestly. We’re hoping that this strike won’t happen because we’ve got to keep growing this business and innovating. Everyone deserves a fair shake, and we think everybody who works below the line deserves a fair shake. I’m crossing my fingers and hopeful that there won’t be.”
With negotiations between the guild and the AMPTP scheduled to begin next month, IATSE is making it clear to the industry at large that it is not inclined to...
“I’m the CEO of a public company. I worry about everything every day,” the exec said in response to a Wall Street analyst’s question about IATSE during the company’s fiscal third-quarter earnings call. “Nobody really wins in a strike, honestly. We’re hoping that this strike won’t happen because we’ve got to keep growing this business and innovating. Everyone deserves a fair shake, and we think everybody who works below the line deserves a fair shake. I’m crossing my fingers and hopeful that there won’t be.”
With negotiations between the guild and the AMPTP scheduled to begin next month, IATSE is making it clear to the industry at large that it is not inclined to...
- 2/8/2024
- by Dade Hayes
- Deadline Film + TV
Returning to Panem with “The Hunger Games: The Ballad of Songbirds and Snakes” proved to be very profitable for Lionsgate, but the writers and actors strikes that upended Hollywood imperiled the company’s ability to produce new television episodes, putting a strain on its third quarter earnings.
The company, which is in the midst of spinning off its film and television business from its Starz streaming platform, reported a net loss at $107.4 million, compared to the $15.2 million in profits that Lionsgate logged in the same quarter in 2022. Revenue topped out at $975.1 million, a drop from the $1 billion that the company reported in the prior-year quarter. The company’s adjusted earnings per-share of 27 cents was down from the 21 cents per-share it reported in the same period in 2022.
It was a mixed report, one that showed the lingering financial impact of the strikes that ground the entertainment industry to a standstill as...
The company, which is in the midst of spinning off its film and television business from its Starz streaming platform, reported a net loss at $107.4 million, compared to the $15.2 million in profits that Lionsgate logged in the same quarter in 2022. Revenue topped out at $975.1 million, a drop from the $1 billion that the company reported in the prior-year quarter. The company’s adjusted earnings per-share of 27 cents was down from the 21 cents per-share it reported in the same period in 2022.
It was a mixed report, one that showed the lingering financial impact of the strikes that ground the entertainment industry to a standstill as...
- 2/8/2024
- by Brent Lang
- Variety Film + TV
Lionsgate has released its third quarter financial results after unveiling plans for a spinoff of its studio business from the premium cable and streaming platform Starz via a Special Purpose Acquisition Company (Spac) deal.
The studio swung to a third quarter net loss at $107.4 million, compared to a year-earlier profit of $15.2 million, on overall revenue falling to $975.1 million, against $1 billion in the same period of last year during the three months to Dec. 31, 2023.
Lionsgate posted an adjusted earnings per-share at 27 cents, compared to a year-earlier per-share earnings of 21 cents, which in the latest financial quarter beat an analyst estimate by six cents. Shares in the Hollywood studio rose in after hour trading by 60 cent, or .6 percent, to $10.86.
Lionsgate reported record trailing 12-month library revenue of $784 million in the quarter.
The studio business, made up of the film and TV divisions, saw revenue fall by 23 percent to $691.6 million. TV production revenue fell sharply to $285.4 million,...
The studio swung to a third quarter net loss at $107.4 million, compared to a year-earlier profit of $15.2 million, on overall revenue falling to $975.1 million, against $1 billion in the same period of last year during the three months to Dec. 31, 2023.
Lionsgate posted an adjusted earnings per-share at 27 cents, compared to a year-earlier per-share earnings of 21 cents, which in the latest financial quarter beat an analyst estimate by six cents. Shares in the Hollywood studio rose in after hour trading by 60 cent, or .6 percent, to $10.86.
Lionsgate reported record trailing 12-month library revenue of $784 million in the quarter.
The studio business, made up of the film and TV divisions, saw revenue fall by 23 percent to $691.6 million. TV production revenue fell sharply to $285.4 million,...
- 2/8/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Adam Fogelson is replacing Joe Drake as chair of Lionsgate’s motion picture group.
Drake reportedly initiated the transition and will be working with Fogelson over the coming months on succession plans. Drake, who was named co-chair of Lionsgate in 2017, will be leaving the company. He’s departing after leading the studio to its first billion-dollar year since 2019, thanks to commercial winners like “John Wick: Chapter 4” and “Hunger Games: The Ballad of Songbirds and Snakes.”
“Despite unprecedented disruption over the last few years, we built a team that thrived throughout and achieved everything I could have imagined at Lionsgate,’ Drake said in a statement. “Having worked side by side with Adam for the past 18 months, he is the perfect choice to lead the motion picture group forward to even greater heights.”
Drake served as Lionsgate’s co-chief operating officer and motion picture group president for five years before leaving...
Drake reportedly initiated the transition and will be working with Fogelson over the coming months on succession plans. Drake, who was named co-chair of Lionsgate in 2017, will be leaving the company. He’s departing after leading the studio to its first billion-dollar year since 2019, thanks to commercial winners like “John Wick: Chapter 4” and “Hunger Games: The Ballad of Songbirds and Snakes.”
“Despite unprecedented disruption over the last few years, we built a team that thrived throughout and achieved everything I could have imagined at Lionsgate,’ Drake said in a statement. “Having worked side by side with Adam for the past 18 months, he is the perfect choice to lead the motion picture group forward to even greater heights.”
Drake served as Lionsgate’s co-chief operating officer and motion picture group president for five years before leaving...
- 1/10/2024
- by Rebecca Rubin
- Variety Film + TV
Lionsgate’s Motion Picture Group Chair Joe Drake is exiting the studio. He’ll hand the reins to Adam Fogelson, who formerly lead both Universal Pictures and STX Motion Picture Group; Fogelson joined Lionsgate’s film group in 2022 as vice chair. This is now the third studio Fogelson will lead dating back to 2009.
Drake returned to Lionsgate in 2017 after starting Good Universe Pictures, which Lionsgate acquired from Drake. He most recently oversaw Lionsgate’s first $1 billion year at the global box office since 2019, thanks in large part to new “John Wick,” “Hunger Games,” and “Saw” films. Drake also oversaw the successes of “Knives Out,” “Jesus Revolution,” “Shotgun Wedding,” and more.
Fogelson and Drake will continue to work together over the next couple of months.
Drake’s exit comes as Lionsgate spins its studio business from Starz, which could lead to a potential sale of the studio. The company recently beefed...
Drake returned to Lionsgate in 2017 after starting Good Universe Pictures, which Lionsgate acquired from Drake. He most recently oversaw Lionsgate’s first $1 billion year at the global box office since 2019, thanks in large part to new “John Wick,” “Hunger Games,” and “Saw” films. Drake also oversaw the successes of “Knives Out,” “Jesus Revolution,” “Shotgun Wedding,” and more.
Fogelson and Drake will continue to work together over the next couple of months.
Drake’s exit comes as Lionsgate spins its studio business from Starz, which could lead to a potential sale of the studio. The company recently beefed...
- 1/10/2024
- by Brian Welk
- Indiewire
Lionsgate has tapped Adam Fogelson to succeed Joe Drake as chair of its movie division.
It’s understood Drake initiated the transition as he works with Fogelson — currently vice chair of the Motion Picture Group and overseeing the worldwide marketing and theatrical distribution — over the coming months to ensure a smooth succession.
Former STX Film chief Fogelson joined Lionsgate in September 2022 and reported to Drake, chair of the studio’s Motion Picture Group. His move to Lionsgate followed the Hollywood studio exploring a possible takeover of STX, a deal that didn’t come to pass.
Drake rejoined Lionsgate in 2017 after running Good Universe Pictures, the second company acquired by Lionsgate from Drake. He reentered a studio different from the one he left in 2012, as Lionsgate had moved beyond its hit Hunger Games and Twilight franchises to leverage a diversified portfolio of film and TV properties across multiple platforms, especially after acquiring Starz.
It’s understood Drake initiated the transition as he works with Fogelson — currently vice chair of the Motion Picture Group and overseeing the worldwide marketing and theatrical distribution — over the coming months to ensure a smooth succession.
Former STX Film chief Fogelson joined Lionsgate in September 2022 and reported to Drake, chair of the studio’s Motion Picture Group. His move to Lionsgate followed the Hollywood studio exploring a possible takeover of STX, a deal that didn’t come to pass.
Drake rejoined Lionsgate in 2017 after running Good Universe Pictures, the second company acquired by Lionsgate from Drake. He reentered a studio different from the one he left in 2012, as Lionsgate had moved beyond its hit Hunger Games and Twilight franchises to leverage a diversified portfolio of film and TV properties across multiple platforms, especially after acquiring Starz.
- 1/10/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Surprise move comes on back of company’s first billion-dollar box office year since 2019.
Joe Drake will step down as chair of Lionsgate motion picture group and Adam Fogelson will assume the reins at the company, which just recorded its first billion-dollar year at the box office since 2019.
The company said in a press release that Drake, who renewed his contract in late 2022, initiated the transition and will work with Fogelson over the coming months to ensure a smooth succession. Fogelson currently serves as vice chair of the motion picture group.
The move came as a surprise to industry sources...
Joe Drake will step down as chair of Lionsgate motion picture group and Adam Fogelson will assume the reins at the company, which just recorded its first billion-dollar year at the box office since 2019.
The company said in a press release that Drake, who renewed his contract in late 2022, initiated the transition and will work with Fogelson over the coming months to ensure a smooth succession. Fogelson currently serves as vice chair of the motion picture group.
The move came as a surprise to industry sources...
- 1/10/2024
- by Jeremy Kay
- ScreenDaily
Lionsgate Motion Picture Group Shift: Joe Drake Stepping Down As Chair, Hands Reins To Adam Fogelson
Lionsgate Motion Picture Group Chair Joe Drake is exiting the company, and handing over executive duties and title to Motion Picture Group Vice Chair Adam Fogelson.
This was a move initiated by Drake who’ll be working with Fogelson over the coming months to transition him to the Chair role.
The corporate segue follows Lionsgate’s reboot of the Hunger Games franchise with the Q4 holiday prequel, The Hunger Games: The Ballad of Songbirds and Snakes, which has grossed over $340M global box office to date.
Drake rejoined Lionsgate in 2017 after having success with Good Universe Pictures, the second company acquired by Lionsgate from Drake. Other highlights during his current run of the Motion Picture Group include multi-award-winning Knives Out ($312M global B.O.), the last two John Wick movies ($766M+ global B.O.), and the latest installment in the Saw franchise ($111M global box). Last year, Lionsgate achieved its...
This was a move initiated by Drake who’ll be working with Fogelson over the coming months to transition him to the Chair role.
The corporate segue follows Lionsgate’s reboot of the Hunger Games franchise with the Q4 holiday prequel, The Hunger Games: The Ballad of Songbirds and Snakes, which has grossed over $340M global box office to date.
Drake rejoined Lionsgate in 2017 after having success with Good Universe Pictures, the second company acquired by Lionsgate from Drake. Other highlights during his current run of the Motion Picture Group include multi-award-winning Knives Out ($312M global B.O.), the last two John Wick movies ($766M+ global B.O.), and the latest installment in the Saw franchise ($111M global box). Last year, Lionsgate achieved its...
- 1/10/2024
- by Anthony D'Alessandro
- Deadline Film + TV
Lionsgate CEO Jon Feltheimer expressed an optimistic view of the movie business – at least the way it is approached by his cost-conscious executive team.
During a conference call with Wall Street analysts to discuss the forthcoming split of the company’s film and TV operations from Starz, Feltheimer said the key is to avoid “crazy risk” that can cause financial pain in a volatile marketplace. One analyst asked how Lionsgate would manage through a period of sustained theatrical revenue decline, with ticket sales continuing to lag well behind pre-Covid levels.
“You can’t talk about the film business as a box office business, Ok?” Feltheimer said, adding that the analyst’s “premise is a little bit off” concerning theatrical moviegoing, which is expected to slump in 2024 due to multiple factors. “I’m not really concerned about it. I’m bullish on it,” the CEO said.
“Box office is the driver of the business,...
During a conference call with Wall Street analysts to discuss the forthcoming split of the company’s film and TV operations from Starz, Feltheimer said the key is to avoid “crazy risk” that can cause financial pain in a volatile marketplace. One analyst asked how Lionsgate would manage through a period of sustained theatrical revenue decline, with ticket sales continuing to lag well behind pre-Covid levels.
“You can’t talk about the film business as a box office business, Ok?” Feltheimer said, adding that the analyst’s “premise is a little bit off” concerning theatrical moviegoing, which is expected to slump in 2024 due to multiple factors. “I’m not really concerned about it. I’m bullish on it,” the CEO said.
“Box office is the driver of the business,...
- 1/4/2024
- by Dade Hayes
- Deadline Film + TV
Lionsgate CEO Jon Feltheimer says spinning off his Hollywood film and TV studio business from Starz via a Special Purpose Acquisition Company (Spac) deal offers the best flexibility available before completing a planned and long-awaited full separation.
“We believe this transaction sets a valuation for the studio and increases our strategic optionality as we move toward separation,” Feltheimer told financial analysts during an after-market call on Thursday. His comments to investors follow Lionsgate unveiling plans last month to back into a Spac to create a separately traded public company with a $4.6 billion enterprise value.
Feltheimer told analysts the Spac deal was the best way to uncover hidden shareholder value for the studio and Starz assets after the Hollywood studio considered strategic alternatives. “We had a number of options available for executing this step in our overall strategic plan. We believe that we selected the best option for aligning with our goal of a full separation,...
“We believe this transaction sets a valuation for the studio and increases our strategic optionality as we move toward separation,” Feltheimer told financial analysts during an after-market call on Thursday. His comments to investors follow Lionsgate unveiling plans last month to back into a Spac to create a separately traded public company with a $4.6 billion enterprise value.
Feltheimer told analysts the Spac deal was the best way to uncover hidden shareholder value for the studio and Starz assets after the Hollywood studio considered strategic alternatives. “We had a number of options available for executing this step in our overall strategic plan. We believe that we selected the best option for aligning with our goal of a full separation,...
- 1/4/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Back in 2019, Hasbro acquired the entertainment company Entertainment One as part of a $4 billion all-cash transaction, aiming to become a major media contender by combining the company’s film and TV unit with their own. But the pandemic disrupted that plan, and now (according to The Hollywood Reporter) Hasbro is more interested in becoming a digital gaming powerhouse. So Lionsgate has been able to acquire “certain assets” of Entertainment One from Hasbro in a $500 million deal. Lionsgate forked over $375 million in cash, in addition to taking on production financing loans.
A press release lets us know that the acquisition “adds 6,500 film and television titles to Lionsgate’s library, one of the largest and most valuable in the world, diversifies and strengthens its scripted and unscripted television businesses, extends its portfolio of brands and franchises and expands its presence in Canada and the UK. eOne produces the hit ABC franchise The Rookie,...
A press release lets us know that the acquisition “adds 6,500 film and television titles to Lionsgate’s library, one of the largest and most valuable in the world, diversifies and strengthens its scripted and unscripted television businesses, extends its portfolio of brands and franchises and expands its presence in Canada and the UK. eOne produces the hit ABC franchise The Rookie,...
- 12/28/2023
- by Cody Hamman
- JoBlo.com
Transaction adds 6,500 titles to library.
Liosgsate top brass said on Wednesday the company had closed the acquisition of eOne from Hasbro for $375m in cash subject to purchase price adjustments, plus the assumption of production financing loans.
The acquisition boosts the stable of brands and potential franchises with properties like Monopoly, brings 6,500 film and television titles into the Lionsgate library, bolsters its scripted and unscripted television businesses, and deepens its presence in Canada and the UK.
eOne produces hit ABC franchise The Rookie, Showtime series Yellowjackets (pictured) and the long-running Discovery unscripted series Naked & Afraid.
Former eOne owner Hasbro...
Liosgsate top brass said on Wednesday the company had closed the acquisition of eOne from Hasbro for $375m in cash subject to purchase price adjustments, plus the assumption of production financing loans.
The acquisition boosts the stable of brands and potential franchises with properties like Monopoly, brings 6,500 film and television titles into the Lionsgate library, bolsters its scripted and unscripted television businesses, and deepens its presence in Canada and the UK.
eOne produces hit ABC franchise The Rookie, Showtime series Yellowjackets (pictured) and the long-running Discovery unscripted series Naked & Afraid.
Former eOne owner Hasbro...
- 12/28/2023
- by Jeremy Kay
- ScreenDaily
Lionsgate has closed its acquisition of eOne from Hasbro, the company announced Wednesday. The deal, initially revealed at the beginning of August, includes $375 million in cash and the rest in acquired debt. Lionsgate will assume production financing loans for ongoing projects, and the studio approximated the total value of the transaction to be $500 million in August.
Lionsgate will assume ownership of 6,500 films and TV shows from eOne, as well as extend their portfolio of brands and franchises while expanding into Canada and the UK. eOne produces various shows, including ABC’s “The Rookie,” the Showtime series “Yellowjackets” and the Discovery series “Naked & Afraid.” The company will also receive the film development rights to Hasbro’s “Monopoly” game series.
“The eOne acquisition concludes a busy year in which we continued to execute our strategy of strengthening our studio business as we prepare for the separation of Lionsgate and Starz into pure play standalone companies,...
Lionsgate will assume ownership of 6,500 films and TV shows from eOne, as well as extend their portfolio of brands and franchises while expanding into Canada and the UK. eOne produces various shows, including ABC’s “The Rookie,” the Showtime series “Yellowjackets” and the Discovery series “Naked & Afraid.” The company will also receive the film development rights to Hasbro’s “Monopoly” game series.
“The eOne acquisition concludes a busy year in which we continued to execute our strategy of strengthening our studio business as we prepare for the separation of Lionsgate and Starz into pure play standalone companies,...
- 12/27/2023
- by Kristen Lopez
- The Wrap
Lionsgate closed its $375 million acquisition of studio Entertainment One (eOne) from toy company Hasbro Wednesday.
The deal adds 6,500 film and television titles to Lionsgate’s existing library, including Showtime hit “Yellowjackets,” ABC’s “The Rookie” and Discovery’s “Naked & Afraid” franchise.
The sale is subject to purchase price adjustments, plus Lionsgate’s assumption of production financing loans for eOne projects.
In August, Lionsgate struck a deal to purchase eOne‘s TV and film operations from Hasbro for $500 million. The sale news came nearly four years to the date when Hasbro announced their intent to acquire eOne in a $3.8 billion deal in August 2019.
Earlier this month, Lionsgate laid off 10% of eOne’s workforce in preparation for the merger closing. Cuts previously hit eOne in June, when Hasbro reduced the studio’s staff by 20% amid its plan to sell the asset.
Popular IP excluded from the sale to Lionsgate includes “Peppa Pig,...
The deal adds 6,500 film and television titles to Lionsgate’s existing library, including Showtime hit “Yellowjackets,” ABC’s “The Rookie” and Discovery’s “Naked & Afraid” franchise.
The sale is subject to purchase price adjustments, plus Lionsgate’s assumption of production financing loans for eOne projects.
In August, Lionsgate struck a deal to purchase eOne‘s TV and film operations from Hasbro for $500 million. The sale news came nearly four years to the date when Hasbro announced their intent to acquire eOne in a $3.8 billion deal in August 2019.
Earlier this month, Lionsgate laid off 10% of eOne’s workforce in preparation for the merger closing. Cuts previously hit eOne in June, when Hasbro reduced the studio’s staff by 20% amid its plan to sell the asset.
Popular IP excluded from the sale to Lionsgate includes “Peppa Pig,...
- 12/27/2023
- by Jennifer Maas
- Variety Film + TV
Lionsgate has completed a $500 million deal to acquire certain assets of Entertainment One from Hasbro.
The studio met a year-end deadline to pick up a content library of nearly 6,500 titles and active productions for non-Hasbro owned IP like the Yellowjackets, The Rookie and Naked and Afraid franchises, as well as the eOne unscripted business.
The eOne branded film business also produced and financed movies as like Dungeons & Dragons: Honor Among Thieves and The Woman King. The transaction also includes the film development rights to Hasbro’s Monopoly classic board game brand.
Acquiring eOne allows Lionsgate to strengthen its production operations and continue grow its film and TV businesses in the U.K. and Canada, where it has extensive local partnerships.
“The eOne acquisition concludes a busy year in which we continued to execute our strategy of strengthening our studio business as we prepare for the separation of Lionsgate and...
The studio met a year-end deadline to pick up a content library of nearly 6,500 titles and active productions for non-Hasbro owned IP like the Yellowjackets, The Rookie and Naked and Afraid franchises, as well as the eOne unscripted business.
The eOne branded film business also produced and financed movies as like Dungeons & Dragons: Honor Among Thieves and The Woman King. The transaction also includes the film development rights to Hasbro’s Monopoly classic board game brand.
Acquiring eOne allows Lionsgate to strengthen its production operations and continue grow its film and TV businesses in the U.K. and Canada, where it has extensive local partnerships.
“The eOne acquisition concludes a busy year in which we continued to execute our strategy of strengthening our studio business as we prepare for the separation of Lionsgate and...
- 12/27/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Lionsgate said today its acquisition of global entertainment platform eOne from Hasbro is done.
The transaction announced last August adds 6,500 film and television titles to Lionsgate’s large library; diversifies and strengthens its scripted and unscripted television businesses; extends its portfolio of brands and franchises; and expands its presence in Canada and the UK.
The deal is for $375 million in cash plus the assumption of some production financing loans.
EOne produces ABC hit franchise The Rookie, critically-acclaimed Showtime series Yellowjackets, and the long-running Discovery unscripted series Naked & Afraid. The library has 1917, Atomic Blonde, Green Book, Grey’s Anatomy, Criminal Minds, Renegade and Designated Survivor.
The transaction also includes film development rights to Hasbro’s Monopoly brand. Lionsgate knows that property well and had specifically carved out the film development rights as part of the overall deal. Most Hasbro IP led by family brands will remain with the Pawtucket, Ri-based toymaker including animated projects Peppa Pig,...
The transaction announced last August adds 6,500 film and television titles to Lionsgate’s large library; diversifies and strengthens its scripted and unscripted television businesses; extends its portfolio of brands and franchises; and expands its presence in Canada and the UK.
The deal is for $375 million in cash plus the assumption of some production financing loans.
EOne produces ABC hit franchise The Rookie, critically-acclaimed Showtime series Yellowjackets, and the long-running Discovery unscripted series Naked & Afraid. The library has 1917, Atomic Blonde, Green Book, Grey’s Anatomy, Criminal Minds, Renegade and Designated Survivor.
The transaction also includes film development rights to Hasbro’s Monopoly brand. Lionsgate knows that property well and had specifically carved out the film development rights as part of the overall deal. Most Hasbro IP led by family brands will remain with the Pawtucket, Ri-based toymaker including animated projects Peppa Pig,...
- 12/27/2023
- by Jill Goldsmith
- Deadline Film + TV
Deal to create publicly traded pure play content company expected to close in spring 2024.
Lionsgate said on Friday it will separate its film and TV business and 18,000- strong library to create Lionsgate Studios Corp., a stand-alone publicly traded entity with an enterprise value of $4.6bn.
The studio business will merge with Screaming Eagle Acquisition Corp., a special purpose acquisition rights company created for the transaction. The Starz TV network and streaming platform will remain wholly owned by Lionsgate.
The transaction is expected to close in spring 2024.
Lionsgate said in a press release the deal positions Lionsgate Studios as a “platform-agnostic,...
Lionsgate said on Friday it will separate its film and TV business and 18,000- strong library to create Lionsgate Studios Corp., a stand-alone publicly traded entity with an enterprise value of $4.6bn.
The studio business will merge with Screaming Eagle Acquisition Corp., a special purpose acquisition rights company created for the transaction. The Starz TV network and streaming platform will remain wholly owned by Lionsgate.
The transaction is expected to close in spring 2024.
Lionsgate said in a press release the deal positions Lionsgate Studios as a “platform-agnostic,...
- 12/22/2023
- by Jeremy Kay
- ScreenDaily
After months of not knowing whether Lionsgate would spin off its studio or the Starz cable/streaming bundle, we now have a bit more clarity.
After months of speculation and analysis, there is finally some movement on the Lionsgate front. In July, the company filed paperwork to create two separate business entities; one for its movie and TV studio, and the other for its cable/streaming bundle Starz. Now, reports indicate that Lionsgate has made its decision, which will see its TV and movie studio spun off and merged with a special-purpose acquisition company (Spac).
Lionsgate will merge with Screaming Eagle Acquisition Corp to form Lionsgate Studios Corp. Its main goal will be to raise cash and make itself a more attractive acquisition target for a bigger company. Lionsgate Studios Corp. has an 18,000-title library, including “The Hunger Games” and “John Wick.” Save 50% Today (Just $5) $9.99+ / month starz.com
Limited Time:...
After months of speculation and analysis, there is finally some movement on the Lionsgate front. In July, the company filed paperwork to create two separate business entities; one for its movie and TV studio, and the other for its cable/streaming bundle Starz. Now, reports indicate that Lionsgate has made its decision, which will see its TV and movie studio spun off and merged with a special-purpose acquisition company (Spac).
Lionsgate will merge with Screaming Eagle Acquisition Corp to form Lionsgate Studios Corp. Its main goal will be to raise cash and make itself a more attractive acquisition target for a bigger company. Lionsgate Studios Corp. has an 18,000-title library, including “The Hunger Games” and “John Wick.” Save 50% Today (Just $5) $9.99+ / month starz.com
Limited Time:...
- 12/22/2023
- by David Satin
- The Streamable
Lionsgate’s long-gestating plan to split the studio with Starz is finally a go as the company announced today that Studios — the TV studio, motion picture group and film and television libraries — will merge with Screaming Eagle Acquisition Corp., a Spac (special purpose acquisition company) led by Eli Baker.
The separation is expected to close this spring turning Lionsgate Studios into one of the biggest global pure-play publicly-traded content companies and the hope is, an attractive acquisition target — adding more fuel to the media M&a chatter already in full swing. The Studios’ portfolio includes franchise properties The Hunger Games, John Wick, The Twilight Saga and Ghosts; a robust film and television production and distribution business; a leading talent management and production company; and a large film and television library that throws off significant cash.
Lionsgate has planned for nearly two years to separate the studio and Starz. CEO Jon Feltheimer...
The separation is expected to close this spring turning Lionsgate Studios into one of the biggest global pure-play publicly-traded content companies and the hope is, an attractive acquisition target — adding more fuel to the media M&a chatter already in full swing. The Studios’ portfolio includes franchise properties The Hunger Games, John Wick, The Twilight Saga and Ghosts; a robust film and television production and distribution business; a leading talent management and production company; and a large film and television library that throws off significant cash.
Lionsgate has planned for nearly two years to separate the studio and Starz. CEO Jon Feltheimer...
- 12/22/2023
- by Jill Goldsmith
- Deadline Film + TV
In a move it has telegraphed for some time, Lionsgate unveiled a deal to spin off its studios business in a Special Purpose Acquisition Company (Spac) deal to create a separately traded public company with a $4.6 billion enterprise value.
The proposed Spac-style merger follows strategic talks by the Jon Feltheimer-led company to spin off its studio division or Starz streaming platform. The studio business, comprising Lionsgate’s TV production and Motion Picture Group divisions and a 20,000-title film and TV library, will be combined with Screaming Eagle Acquisition Corp., a special-purpose acquisition rights company — often referred to as a blank check company — led by Spac sponsor Eagle Equity Partners and CEO Eli Baker.
The newly merged entity, Lionsgate Studios Corp., will be a publicly traded vehicle able to raise fresh capital and merge with existing businesses. Its biggest asset will arguably be its vast library of movies and television franchises.
The proposed Spac-style merger follows strategic talks by the Jon Feltheimer-led company to spin off its studio division or Starz streaming platform. The studio business, comprising Lionsgate’s TV production and Motion Picture Group divisions and a 20,000-title film and TV library, will be combined with Screaming Eagle Acquisition Corp., a special-purpose acquisition rights company — often referred to as a blank check company — led by Spac sponsor Eagle Equity Partners and CEO Eli Baker.
The newly merged entity, Lionsgate Studios Corp., will be a publicly traded vehicle able to raise fresh capital and merge with existing businesses. Its biggest asset will arguably be its vast library of movies and television franchises.
- 12/22/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Lionsgate unveiled details of the long-awaited separation of its studios business and the Starz TV network and streaming division.
The company announced Friday that its studio business, comprising its TV and film production and distribution segments and a content library with 18,000-plus titles, will spin off in a merger with Screaming Eagle Acquisition Corp., a special-purpose acquisition company (Spac). The deal is expected to close in spring 2024.
The new entity, Lionsgate Studios Corp., will let investors value the film and TV businesses as a publicly traded, standalone company. The transaction is expected to raise approximately $350 million to fund strategic initiatives, with $175 million already committed by several blue-chip investors.
The deal gives Lionsgate Studios at an enterprise value of $4.6 billion and is a big step along the path toward the full separation of Starz and the studios group. The Lionsgate parent company is expected to continue to own 87.3% of the total shares of Lionsgate Studios,...
The company announced Friday that its studio business, comprising its TV and film production and distribution segments and a content library with 18,000-plus titles, will spin off in a merger with Screaming Eagle Acquisition Corp., a special-purpose acquisition company (Spac). The deal is expected to close in spring 2024.
The new entity, Lionsgate Studios Corp., will let investors value the film and TV businesses as a publicly traded, standalone company. The transaction is expected to raise approximately $350 million to fund strategic initiatives, with $175 million already committed by several blue-chip investors.
The deal gives Lionsgate Studios at an enterprise value of $4.6 billion and is a big step along the path toward the full separation of Starz and the studios group. The Lionsgate parent company is expected to continue to own 87.3% of the total shares of Lionsgate Studios,...
- 12/22/2023
- by Todd Spangler
- Variety Film + TV
Lionsgate, which agreed to buy eOne last August, is cutting the production outfit’s already-depleted workforce by a single-digit percentage as the acquisition approaches its official close at the end of the month.
A personal familiar with the integration process confirmed the layoffs to Deadline but cast doubt on media reports earlier Friday estimating that 10% of staffers would be let go. Certain workers are expected to remain with Lionsgate during a brief transition period before departing, while others are exiting in the near term.
Before Lionsgate emerged from a pack of suitors with the winning bid, eOne had gone into play due to a strategy shift at Hasbro. The toymaker, which acquired the film and TV production entity for about $4 billion in 2019, has stepped back from Hollywood fare but retained eOne kids and family properties like Peppa Pig and My Little Pony.
The roster of titles moving to Lionsgate includes TV series like Yellowjackets,...
A personal familiar with the integration process confirmed the layoffs to Deadline but cast doubt on media reports earlier Friday estimating that 10% of staffers would be let go. Certain workers are expected to remain with Lionsgate during a brief transition period before departing, while others are exiting in the near term.
Before Lionsgate emerged from a pack of suitors with the winning bid, eOne had gone into play due to a strategy shift at Hasbro. The toymaker, which acquired the film and TV production entity for about $4 billion in 2019, has stepped back from Hollywood fare but retained eOne kids and family properties like Peppa Pig and My Little Pony.
The roster of titles moving to Lionsgate includes TV series like Yellowjackets,...
- 12/1/2023
- by Dade Hayes
- Deadline Film + TV
Here’s a look at this week’s biggest premieres, parties and openings in Los Angeles and New York, including Hunger Games: The Ballad of Songbirds and Snakes, Trolls Band Together, The Crown, Saltburn and May December.
The Crown premiere
Elizabeth Debicki, Jonathan Pryce, Khalid Abdalla, Rufus Kampa, Fflyn Edwards, Ed McVey, Luther Ford and Meg Bellamy walked the red carpet on Sunday for the Los Angeles premiere of the sixth and final season.
Peter Morgan and Elizabeth Debicki Luther Ford, Khalid Abdalla and Ed McVey
Hunger Games: The Ballad of Songbirds & Snakes premiere
Rachel Zegler, Tom Blyth, Hunter Schafer, Josh Andrés Rivera, Viola Davis, Peter Dinklage and Jason Schwartzman attended the Los Angeles premiere of their Hunger Games prequel on Monday, with support from Olivia Rodrigo, who has a song in the film. On Wednesday, the cast attended another premiere event in NYC.
Peter Dinklage, Viola Davis, Josh Andrés Rivera,...
The Crown premiere
Elizabeth Debicki, Jonathan Pryce, Khalid Abdalla, Rufus Kampa, Fflyn Edwards, Ed McVey, Luther Ford and Meg Bellamy walked the red carpet on Sunday for the Los Angeles premiere of the sixth and final season.
Peter Morgan and Elizabeth Debicki Luther Ford, Khalid Abdalla and Ed McVey
Hunger Games: The Ballad of Songbirds & Snakes premiere
Rachel Zegler, Tom Blyth, Hunter Schafer, Josh Andrés Rivera, Viola Davis, Peter Dinklage and Jason Schwartzman attended the Los Angeles premiere of their Hunger Games prequel on Monday, with support from Olivia Rodrigo, who has a song in the film. On Wednesday, the cast attended another premiere event in NYC.
Peter Dinklage, Viola Davis, Josh Andrés Rivera,...
- 11/17/2023
- by Kirsten Chuba
- The Hollywood Reporter - Movie News
Jon Feltheimer, CEO of the first media company to report quarterly earnings since SAG-AFTRA struck a deal with studios, said Thursday that he’s so pleased that “we can now all get back to making great content for a global audience.”
Speaking to Wall Streeter at the top of a call after the company’s second-quarter numbers, CFO Jimmy Barge put the impact of the strike on fiscal 2024 at about $30 million total — less than originally forecast, almost all at the television group and mostly in the September quarter. There could be a lingering $15 million-$20 million hit going forward around episodic delivery and increased costs for productions that had to shutter during the work stoppage.
Execs weighed in on how the company is situated as production restarts everywhere all at once, and the impact on costs longer term.
TV chief Kevin Beggs said things will move fast. “We have two network...
Speaking to Wall Streeter at the top of a call after the company’s second-quarter numbers, CFO Jimmy Barge put the impact of the strike on fiscal 2024 at about $30 million total — less than originally forecast, almost all at the television group and mostly in the September quarter. There could be a lingering $15 million-$20 million hit going forward around episodic delivery and increased costs for productions that had to shutter during the work stoppage.
Execs weighed in on how the company is situated as production restarts everywhere all at once, and the impact on costs longer term.
TV chief Kevin Beggs said things will move fast. “We have two network...
- 11/10/2023
- by Jill Goldsmith
- Deadline Film + TV
John Wick continues to be the straw that stirs the drink at Lionsgate.
The home entertainment debut of the fourth film of the series and the premiere of its streaming spin-off “The Continental” lifted revenues at Lionsgate to just over $1 billion, beating Wall Street’s estimates. That was up from $875.2 million in the prior-year quarter. However, the company also reported a net loss to Lionsgate shareholders of $886.2 million, which it attributed to restructuring costs and a writedown related to its decision to have its Starz business exit Latin America and the United Kingdom. The company didn’t spill as much red ink as it did in the prior-year quarter when it reported a loss of $1.181 billion. Adjusted net income was $48.6 million and there was an adjusted loss per share of $3.79.
The earnings report comes as Lionsgate is exploring selling or spinning off Starz, its cable and streaming business, and as...
The home entertainment debut of the fourth film of the series and the premiere of its streaming spin-off “The Continental” lifted revenues at Lionsgate to just over $1 billion, beating Wall Street’s estimates. That was up from $875.2 million in the prior-year quarter. However, the company also reported a net loss to Lionsgate shareholders of $886.2 million, which it attributed to restructuring costs and a writedown related to its decision to have its Starz business exit Latin America and the United Kingdom. The company didn’t spill as much red ink as it did in the prior-year quarter when it reported a loss of $1.181 billion. Adjusted net income was $48.6 million and there was an adjusted loss per share of $3.79.
The earnings report comes as Lionsgate is exploring selling or spinning off Starz, its cable and streaming business, and as...
- 11/9/2023
- by Brent Lang
- Variety Film + TV
Lionsgate, led by CEO Jon Feltheimer, released its second quarter financials amid continuing strategic talks where the media giant may sell or spinoff its premium cable and streaming platform or its studio business.
The Hollywood studio saw overall revenue hit $1.01 billion, which beat a Zacks Consensus Estimate for $990 million in revenues. Lionsgate also narrowed its net loss to $887.9 million, against a year-earlier net loss of $1.8 billion, due to the impact of non-cash goodwill and intangible asset writedowns and restructuring charges in the media networks division. That included one-time charges related to Starz leaving Latin America and the UK as the streaming platform looks to focus on Canada and India beyond the core U.S. market.
Feltheimer on an after-market analyst call welcomed the tentative deal between SAG-AFTRA and the AMPTP. “I want to start by saying that we’re very pleased that the strikes are over, with a fair and equitable resolution for all parties,...
The Hollywood studio saw overall revenue hit $1.01 billion, which beat a Zacks Consensus Estimate for $990 million in revenues. Lionsgate also narrowed its net loss to $887.9 million, against a year-earlier net loss of $1.8 billion, due to the impact of non-cash goodwill and intangible asset writedowns and restructuring charges in the media networks division. That included one-time charges related to Starz leaving Latin America and the UK as the streaming platform looks to focus on Canada and India beyond the core U.S. market.
Feltheimer on an after-market analyst call welcomed the tentative deal between SAG-AFTRA and the AMPTP. “I want to start by saying that we’re very pleased that the strikes are over, with a fair and equitable resolution for all parties,...
- 11/9/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Starz to Lay Off 10% of Staff and Pull Away From UK and Australia as Separation From Lionsgate Nears
Starz is set to reduce its staff by 10%, a spokesperson confirmed Friday to TheWrap. The move comes as the premium cable network separates from its former parent company Lionsgate to become its own independent company.
The company will also cease operations in the U.K. and Australia, the Starz spokesperson told TheWrap. This comes after the company announced it was moving out of Latin America during a recent earnings call.
In a company-wide memo, CEO Jeffrey Hirsch explained these changes were made “to align our organization with the growth areas of the business and to prepare us for our next chapter as a standalone company.” The same memo also credited the company’s “laser focus on the changing environment” and ability to adapt as a reason why Starz remains “one of the only profitable premium networks.”
“We are committed to ensuring that those impacted today are supported and their transition is as easy as possible,...
The company will also cease operations in the U.K. and Australia, the Starz spokesperson told TheWrap. This comes after the company announced it was moving out of Latin America during a recent earnings call.
In a company-wide memo, CEO Jeffrey Hirsch explained these changes were made “to align our organization with the growth areas of the business and to prepare us for our next chapter as a standalone company.” The same memo also credited the company’s “laser focus on the changing environment” and ability to adapt as a reason why Starz remains “one of the only profitable premium networks.”
“We are committed to ensuring that those impacted today are supported and their transition is as easy as possible,...
- 11/3/2023
- by Kayla Cobb
- The Wrap
Everyone in the business knows that CEOs at big media and entertainment companies get lavish pay packages: nearly always eight figures, and sometimes nine if there’s a big deal involved (like Netflix CEO Ted Sarandos’ $38 million haul last year, or Wbd CEO David Zaslav’s infamous $246 million haul in 2021).
Their compensation has been scrutinized amid the strikes — but beyond the hefty salaries, lucrative bonuses and stock options, most top executives also get their fair share of perquisites (ya know, “perks”). Some are standard (CEOs get access to company health insurance plans, too! And they also get their 401(k) contributions matched!), but there are others that, well, are unlike anything their employees would expect to see in their W-2s.
Peak Perk — the Private Jet
Most companies define private jet travel purely for work purposes as an essential part of the job (and many companies cite the security of...
Their compensation has been scrutinized amid the strikes — but beyond the hefty salaries, lucrative bonuses and stock options, most top executives also get their fair share of perquisites (ya know, “perks”). Some are standard (CEOs get access to company health insurance plans, too! And they also get their 401(k) contributions matched!), but there are others that, well, are unlike anything their employees would expect to see in their W-2s.
Peak Perk — the Private Jet
Most companies define private jet travel purely for work purposes as an essential part of the job (and many companies cite the security of...
- 10/31/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Lionsgate CEO Jon Feltheimer’s compensation rebounded to prior levels in fiscal 2023, reaching $21.5 million.
In the most recent fiscal year, the exec’s pay totaled $5.6 million, down sharply from $19.2 million in fiscal 2021.
The company disclosed the figures as part of a proxy filing with the SEC.
Vice Chair Michael Burns saw his total pay rise to $10.1 million in fiscal 2023, from $4.4 million in the previous year. CFO Jimmy Barge, meanwhile, had total compensation of $10.9 million, up from $6.45 million.
The proxy statement also included a date for the company’s annual shareholder meeting as well as a special shareholder meeting. On November 28, shareholders will cast votes on executive compensation and members of the board of directors.
Lionsgate is also poised to separate its studio business from Starz. After a lengthy process of strategic deliberation, the split was then postponed last August due to the WGA strike and the company’s acquisition of eOne.
In the most recent fiscal year, the exec’s pay totaled $5.6 million, down sharply from $19.2 million in fiscal 2021.
The company disclosed the figures as part of a proxy filing with the SEC.
Vice Chair Michael Burns saw his total pay rise to $10.1 million in fiscal 2023, from $4.4 million in the previous year. CFO Jimmy Barge, meanwhile, had total compensation of $10.9 million, up from $6.45 million.
The proxy statement also included a date for the company’s annual shareholder meeting as well as a special shareholder meeting. On November 28, shareholders will cast votes on executive compensation and members of the board of directors.
Lionsgate is also poised to separate its studio business from Starz. After a lengthy process of strategic deliberation, the split was then postponed last August due to the WGA strike and the company’s acquisition of eOne.
- 10/13/2023
- by Dade Hayes
- Deadline Film + TV
Lionsgate CEO Jon Feltheimer saw his total compensation jump to $21.5 million for fiscal 2023, according to the company’s latest proxy filing disclosed Friday.
That’s up from fiscal 2022 when Feltheimer received $5.6 million in total pay, and the $19.1 million he earned as part of his overall compensation package for fiscal 2021. Feltheimer’s 2023 compensation included an unchanged $1.5 million base salary, compared to the two prior years.
And his bonus last year rose to $10 million, from a bonus of $2.8 million in fiscal 2022 and a $10 million bonus for 2021. Feltheimer again received no option awards last year as in fiscal 2022.
That was against $6.7 million in option awards received for fiscal 2021. But his stock awards for fiscal 2023 rose to $9.75 million, compared to a year-earlier $1 million in stock awards and $700,000 in fiscal 2021.
Feltheimer in August 2020 extended his long-term employment agreement, keeping him at the Hollywood studio potentially to August 2025. His latest pay package follows the media giant...
That’s up from fiscal 2022 when Feltheimer received $5.6 million in total pay, and the $19.1 million he earned as part of his overall compensation package for fiscal 2021. Feltheimer’s 2023 compensation included an unchanged $1.5 million base salary, compared to the two prior years.
And his bonus last year rose to $10 million, from a bonus of $2.8 million in fiscal 2022 and a $10 million bonus for 2021. Feltheimer again received no option awards last year as in fiscal 2022.
That was against $6.7 million in option awards received for fiscal 2021. But his stock awards for fiscal 2023 rose to $9.75 million, compared to a year-earlier $1 million in stock awards and $700,000 in fiscal 2021.
Feltheimer in August 2020 extended his long-term employment agreement, keeping him at the Hollywood studio potentially to August 2025. His latest pay package follows the media giant...
- 10/13/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Everywhere you look these days, it seems a streamer is losing subscribers. Disney+ and ESPN+ both posted customer losses this week for their most recent fiscal quarters, and last week it was Warner Bros. Discovery announcing that its streamers Max and discovery+ had shed users.
An unlikely hero has arrived to break that trend, in the form of Lionsgate’s streaming platform Starz. The company reported adding 100,000 streaming customers on a pro-forma basis last quarter, amidst financial results that were stronger than expected. It’s the second quarter in a row Starz has added users; the company brought on 700K subscribers in Q1.
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Revenue from Lionsgate’s film and television library increased to a record $896 million for the previous 12 months, which helped the company beat analyst expectations for the quarter. Lionsgate used the earnings...
An unlikely hero has arrived to break that trend, in the form of Lionsgate’s streaming platform Starz. The company reported adding 100,000 streaming customers on a pro-forma basis last quarter, amidst financial results that were stronger than expected. It’s the second quarter in a row Starz has added users; the company brought on 700K subscribers in Q1.
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Revenue from Lionsgate’s film and television library increased to a record $896 million for the previous 12 months, which helped the company beat analyst expectations for the quarter. Lionsgate used the earnings...
- 8/10/2023
- by David Satin
- The Streamable
The long-pending separation of the Lionsgate studio and Starz businesses will take a little longer, the company said Wednesday. A new acquisition and other factors have pushed the split from September to early 2024.
“With the impact of the eOne acquisition on regulatory approvals, uncertainties surrounding the strike and our efforts to create the most efficient capital structure within a disruptive marketplace, we anticipate that the separation will now take place in the first quarter of calendar 2024,” Lionsgate CEO Jon Feltheimer, said on the company’s fiscal first quarter earnings call Wednesday.
The mini-major recently finalized plans to purchase Entertainment One from Hasbro for $500 million, a lot less than the $3.9 billion Hasbro paid for the studio in 2019. The acquisition gives Lionsgate another batch of titles and IP to add to its already large library.
Tawny Cypress as Taissa, Lauren Ambrose as Van and Christina Ricci as Misty in Entertainment One’s...
“With the impact of the eOne acquisition on regulatory approvals, uncertainties surrounding the strike and our efforts to create the most efficient capital structure within a disruptive marketplace, we anticipate that the separation will now take place in the first quarter of calendar 2024,” Lionsgate CEO Jon Feltheimer, said on the company’s fiscal first quarter earnings call Wednesday.
The mini-major recently finalized plans to purchase Entertainment One from Hasbro for $500 million, a lot less than the $3.9 billion Hasbro paid for the studio in 2019. The acquisition gives Lionsgate another batch of titles and IP to add to its already large library.
Tawny Cypress as Taissa, Lauren Ambrose as Van and Christina Ricci as Misty in Entertainment One’s...
- 8/9/2023
- by Scott Mendelson
- The Wrap
Lionsgate CEO Jon Feltheimer said the planned split of Lionsgate and Starz will take place in the first quarter of 2024, a change from the prior outlook for early fall of this year.
The company has spent the past couple of years evaluating a range of strategic options, landing on the split as the best way to unlock value for the studio and streaming sides of the company.
“We remain committed to the separation of Lionsgate and Starz,” Feltheimer said during the company’s quarterly earnings call with Wall Street analysts. “With the impact of the eOne acquisition on regulatory approvals, uncertainties surrounding the strike and our efforts to create the most efficient capital structure within a disruptive marketplace, we anticipate that the separation will now take place in the first quarter of calendar 2024.”
Lionsgate confirmed last week it is acquiring eOne from Hasbro for $500 million, and Feltheimer said on the...
The company has spent the past couple of years evaluating a range of strategic options, landing on the split as the best way to unlock value for the studio and streaming sides of the company.
“We remain committed to the separation of Lionsgate and Starz,” Feltheimer said during the company’s quarterly earnings call with Wall Street analysts. “With the impact of the eOne acquisition on regulatory approvals, uncertainties surrounding the strike and our efforts to create the most efficient capital structure within a disruptive marketplace, we anticipate that the separation will now take place in the first quarter of calendar 2024.”
Lionsgate confirmed last week it is acquiring eOne from Hasbro for $500 million, and Feltheimer said on the...
- 8/9/2023
- by Dade Hayes
- Deadline Film + TV
Losses narrowed and revenues climbed as film hits such as “John Wick: Chapter 4” helped power Lionsgate’s quarterly earnings.
It’s a time of change for the company, which is separating its motion picture and television groups from its Starz streaming and pay TV business, relaunching both as publicly traded entities. That was originally supposed to take place in September, but the company said it will now occur in the first quarter of 2024, partly because the actors and writers strikes have created an atmosphere of uncertainty.
In the near term, Lionsgate reported revenues of $909 million, a 2% increase from the $893.9 million it logged in the prior-year quarter. Operating losses shrank from $68.2 million in the previous year quarter to $16.8 million in the most recent period. Adjusted net loss attributable to Lionsgate shareholders in the quarter was $9.8 million or 4 cents a share. That beat Wall Street’s expectations. Analysts were predicting revenues...
It’s a time of change for the company, which is separating its motion picture and television groups from its Starz streaming and pay TV business, relaunching both as publicly traded entities. That was originally supposed to take place in September, but the company said it will now occur in the first quarter of 2024, partly because the actors and writers strikes have created an atmosphere of uncertainty.
In the near term, Lionsgate reported revenues of $909 million, a 2% increase from the $893.9 million it logged in the prior-year quarter. Operating losses shrank from $68.2 million in the previous year quarter to $16.8 million in the most recent period. Adjusted net loss attributable to Lionsgate shareholders in the quarter was $9.8 million or 4 cents a share. That beat Wall Street’s expectations. Analysts were predicting revenues...
- 8/9/2023
- by Brent Lang
- Variety Film + TV
Lionsgate has unveiled its first quarter financial results as talks continue with multiple bidders on a possible sale or spinoff of the premium cable and streaming platform Starz or its studio business.
But a potential transaction that separates Lionsgate and Starz, which Wall Street has anticipated for well over a year, has now been pushed to early in 2024 after the company unveiled an acquisition of producer Entertainment One. “With the impact of the eOne acquisition on regulatory approvals, uncertainties surrounding the strike and our efforts to create the most efficient capital structure within a disruptive marketplace, we anticipate that the separation will now take place in the first quarter of calendar 2024,” Lionsgate CEO Jon Feltheimer told analysts during an after-market call.
“We felt this was something that we really didn’t want to miss,” Feltheimer added when asked whether the eOne deal was worth the delay to the studio spinoff plans,...
But a potential transaction that separates Lionsgate and Starz, which Wall Street has anticipated for well over a year, has now been pushed to early in 2024 after the company unveiled an acquisition of producer Entertainment One. “With the impact of the eOne acquisition on regulatory approvals, uncertainties surrounding the strike and our efforts to create the most efficient capital structure within a disruptive marketplace, we anticipate that the separation will now take place in the first quarter of calendar 2024,” Lionsgate CEO Jon Feltheimer told analysts during an after-market call.
“We felt this was something that we really didn’t want to miss,” Feltheimer added when asked whether the eOne deal was worth the delay to the studio spinoff plans,...
- 8/9/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Lionsgate came in above market expectations once again as it reported results for its first quarter of fiscal 2024 Thursday. The Santa Monica-based studio reported first-quarter revenue of $909 billion. That is +1.6% from $893.9 million this time last year and down 11% from the $1.1 billion posted in the previous quarter.
Zacks predicted revenue of $893 million and an adjusted loss of $0.24 per share. The company posted an adjusted Oibda of $85.7 million, which was up significantly in year-to-year comparisons and walloped predictions of $28 million.
Meanwhile, the adjusted Eps net loss of 4 cents per share beats Zacks’ estimates as well. The studio reported a net loss figure of $70.7 million, with an adjusted net loss of $9.8 million.
“I’m pleased to report a strong financial quarter with another record library performance,” said Lionsgate CEO Jon Feltheimer. “We continued to execute our strategic agenda culminating in our signing a definitive agreement with Hasbro last week to acquire global entertainment platform eOne.
Zacks predicted revenue of $893 million and an adjusted loss of $0.24 per share. The company posted an adjusted Oibda of $85.7 million, which was up significantly in year-to-year comparisons and walloped predictions of $28 million.
Meanwhile, the adjusted Eps net loss of 4 cents per share beats Zacks’ estimates as well. The studio reported a net loss figure of $70.7 million, with an adjusted net loss of $9.8 million.
“I’m pleased to report a strong financial quarter with another record library performance,” said Lionsgate CEO Jon Feltheimer. “We continued to execute our strategic agenda culminating in our signing a definitive agreement with Hasbro last week to acquire global entertainment platform eOne.
- 8/9/2023
- by Scott Mendelson
- The Wrap
Lionsgate is making moves, and not with its movie studio or cable/streaming bundle Starz. The company announced this week it has come to terms on an agreement to purchase eOne, the film production company owned by the toy-making giant Hasbro.
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Lionsgate is paying $500 million to acquire eOne, whose recent releases include “Dungeons and Dragons: Honor Among Thieves,” and the Showtime series “Yellowjackets.” These properties are currently distributed by Paramount, but whether they will continue to be depends on what Lionsgate plans to do with its own business in the future.
“The acquisition of eOne checks off all the boxes in areas that play to our core strengths,” Lionsgate CEO Jon Feltheimer said. “It will be immediately and highly accretive, adds a world-class library with thousands of properties, strengthens our scripted and unscripted television...
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Lionsgate is paying $500 million to acquire eOne, whose recent releases include “Dungeons and Dragons: Honor Among Thieves,” and the Showtime series “Yellowjackets.” These properties are currently distributed by Paramount, but whether they will continue to be depends on what Lionsgate plans to do with its own business in the future.
“The acquisition of eOne checks off all the boxes in areas that play to our core strengths,” Lionsgate CEO Jon Feltheimer said. “It will be immediately and highly accretive, adds a world-class library with thousands of properties, strengthens our scripted and unscripted television...
- 8/3/2023
- by David Satin
- The Streamable
No one should be surprised that Lionsgate announced the purchase of eOne’s film and TV business for $500 million — we all knew that was coming — but it is totally reasonable to be confused.
Lionsgate, which is already trying to sell its own studio, gets nearly 6,500 titles in the deal, including ongoing series like “Yellowjackets,” “The Rookie,” and “Naked and Afraid.” There’s also library content like “1917,” “Atomic Blonde,” “Green Book,” “Grey’s Anatomy,” and “Criminal Minds.”
We don’t yet have the full list of what stays with Hasbro and what goes to Lionsgate, but we know unscripted competition series “Play-Doh Squished” is part of the transaction, and that Lionsgate gets the rights for an upcoming Monopoly movie. Kevin Hart was once set to star in the planned film adaptation of the generations-spanning board game; IndieWire did not immediately get an answer to our question about his current involvement.
Peppa Pig,...
Lionsgate, which is already trying to sell its own studio, gets nearly 6,500 titles in the deal, including ongoing series like “Yellowjackets,” “The Rookie,” and “Naked and Afraid.” There’s also library content like “1917,” “Atomic Blonde,” “Green Book,” “Grey’s Anatomy,” and “Criminal Minds.”
We don’t yet have the full list of what stays with Hasbro and what goes to Lionsgate, but we know unscripted competition series “Play-Doh Squished” is part of the transaction, and that Lionsgate gets the rights for an upcoming Monopoly movie. Kevin Hart was once set to star in the planned film adaptation of the generations-spanning board game; IndieWire did not immediately get an answer to our question about his current involvement.
Peppa Pig,...
- 8/3/2023
- by Tony Maglio
- Indiewire
Lionsgate and Hasbro said on Thursday that they reached a deal for the media company to buy eOne, the toy giant’s film production company, for $500 million.
The deal includes $375 million in cash. The rest will involve Lionsgate assuming production financing loans for ongoing projects.
As part of the pact, Lionsgate also will acquire film development rights to Hasbro’s “Monopoly,” based on the enduring board game. Kevin Hart was cast to star in the film in 2019.
Wall Street was positive on the deal. Lionsgate shares edged up less than 1% in premarket trading, despite buyers typically seeing shares dip when a deal is announced. The stock closed at $7.98 Monday, up about 25% since the start of the year.
Hasbro shares rose about 2% in premarket trading after closing Wednesday at $64.37.
Hasbro has been shopping eOne, which co-produces films and television based on Hasbro IP as part of a production deal with Paramount,...
The deal includes $375 million in cash. The rest will involve Lionsgate assuming production financing loans for ongoing projects.
As part of the pact, Lionsgate also will acquire film development rights to Hasbro’s “Monopoly,” based on the enduring board game. Kevin Hart was cast to star in the film in 2019.
Wall Street was positive on the deal. Lionsgate shares edged up less than 1% in premarket trading, despite buyers typically seeing shares dip when a deal is announced. The stock closed at $7.98 Monday, up about 25% since the start of the year.
Hasbro shares rose about 2% in premarket trading after closing Wednesday at $64.37.
Hasbro has been shopping eOne, which co-produces films and television based on Hasbro IP as part of a production deal with Paramount,...
- 8/3/2023
- by Eileen AJ Connelly
- The Wrap
Lionsgate is set to buy Hasbro’s Entertainment One film and TV business for $500 million under a deal unveiled Thursday.
The price tag consists of $375 million in cash, subject to certain purchase price adjustments, and the assumption of production financing loans, the companies said before the stock market open. “The transaction has been approved by both companies’ boards of directors and remains subject to customary closing conditions, including the receipt of regulatory approvals.” The deal is expected to close by the end of 2023.
The sale covers a content library of “nearly 6,500 titles, active productions for non-Hasbro owned IP like The Rookie, Yellowjackets and Naked and Afraid franchises, and the eOne unscripted business, which will include rights for certain Hasbro-based shows like Play-Doh Squished,” the companies said. “The eOne film and TV business being sold also includes Hasbro’s interest in the Canadian film and TV operations of Entertainment One Canada Limited.
The price tag consists of $375 million in cash, subject to certain purchase price adjustments, and the assumption of production financing loans, the companies said before the stock market open. “The transaction has been approved by both companies’ boards of directors and remains subject to customary closing conditions, including the receipt of regulatory approvals.” The deal is expected to close by the end of 2023.
The sale covers a content library of “nearly 6,500 titles, active productions for non-Hasbro owned IP like The Rookie, Yellowjackets and Naked and Afraid franchises, and the eOne unscripted business, which will include rights for certain Hasbro-based shows like Play-Doh Squished,” the companies said. “The eOne film and TV business being sold also includes Hasbro’s interest in the Canadian film and TV operations of Entertainment One Canada Limited.
- 8/3/2023
- by Etan Vlessing and Georg Szalai
- The Hollywood Reporter - Movie News
Hasbro has confirmed the sale of Entertainment One (eOne) to Lionsgate for $500M, which should close by the end of this year.
Speculation had been intensifying that confirmation was incoming, with Deadline revealing several weeks ago that Lionsgate was in pole position to buy the majority of the on-the-block Woman King and Yellowjackets studio. The news came in the hours preceding Hasbro’s Q2 earnings call.
Hasbro bought eOne for $4B in 2019 but will sell for just $500M, consisting of $375M in cash, subject to certain purchase price adjustments, and the assumption by Lionsgate of production financing loans. Hasbro said the transaction has been approved by both companies’ Boards of Directors and remains subject to closing conditions and regulatory approvals. It will use the proceeds to retire a minimum of $400M of floating rate debt by the end of the year.
“This sale fully aligns with our strategy, and we...
Speculation had been intensifying that confirmation was incoming, with Deadline revealing several weeks ago that Lionsgate was in pole position to buy the majority of the on-the-block Woman King and Yellowjackets studio. The news came in the hours preceding Hasbro’s Q2 earnings call.
Hasbro bought eOne for $4B in 2019 but will sell for just $500M, consisting of $375M in cash, subject to certain purchase price adjustments, and the assumption by Lionsgate of production financing loans. Hasbro said the transaction has been approved by both companies’ Boards of Directors and remains subject to closing conditions and regulatory approvals. It will use the proceeds to retire a minimum of $400M of floating rate debt by the end of the year.
“This sale fully aligns with our strategy, and we...
- 8/3/2023
- by Max Goldbart
- Deadline Film + TV
After more than a year of speculation and maybes, there is finally concrete action to report on Lionsgate and its plans for its premium cable channel and streaming service Starz. The company filed a public Form 10 with the SEC this week, which — if approved by regulators — would allow the company to split into two entities.
One of these entities will be purely focused on Starz, while the other would continue to focus on the Lionsgate movie and TV studio. According to the filing, the two new firms will be creatively named “New Starz” and “New Lionsgate.”
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“We remain excited by the prospect of separating Lionsgate and Starz into standalone companies with strong financial foundations that will allow each company to pursue its own distinct strategy while offering investors the opportunity to own both a...
One of these entities will be purely focused on Starz, while the other would continue to focus on the Lionsgate movie and TV studio. According to the filing, the two new firms will be creatively named “New Starz” and “New Lionsgate.”
Save 50% (Just $5/mo) $9.99 / month starz.com
Limited Time: Save 50% on Starz for three months (Just $5/mo).
“We remain excited by the prospect of separating Lionsgate and Starz into standalone companies with strong financial foundations that will allow each company to pursue its own distinct strategy while offering investors the opportunity to own both a...
- 7/13/2023
- by David Satin
- The Streamable
Lionsgate has furnished more details to investors ahead of its planned split into two publicly traded entities — one centered on film and TV production and the other on media networks, principally Starz.
The company filed a public Form 10 with the SEC containing a proxy statement outlining the assets and highlights of the separation process. Once the regulatory agency has signed off on the details in the form, a special shareholder meeting will be scheduled for the final vote to be taken.
The split has been under consideration for several months and its exact timing depends on a few factors, though management hopes to have it completed in the coming months. The notion of restructuring the company via one or more maneuvers, including spinoffs and partnerships with investors, has been explored by execs since November 2021. The past year-plus has been a...
The company filed a public Form 10 with the SEC containing a proxy statement outlining the assets and highlights of the separation process. Once the regulatory agency has signed off on the details in the form, a special shareholder meeting will be scheduled for the final vote to be taken.
The split has been under consideration for several months and its exact timing depends on a few factors, though management hopes to have it completed in the coming months. The notion of restructuring the company via one or more maneuvers, including spinoffs and partnerships with investors, has been explored by execs since November 2021. The past year-plus has been a...
- 7/12/2023
- by Dade Hayes
- Deadline Film + TV
Lionsgate moved another step toward a possible separation of its pay TV and streaming business from its studio operations.
On Wednesday, the Hollywood studio disclosed the public filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission around its planned separation into two independent, publicly traded companies.
Lionsgate said the potential separation would spin off its studio business, including the Motion Picture and Television Production groups, into a separately traded public company, while the media networks business, which mostly comprises Starz, would remain in the existing company.
“We remain excited by the prospect of separating Lionsgate and Starz into standalone companies with strong financial foundations that will allow each company to pursue its own distinct strategy while offering investors the opportunity to own both a pure-play publicly-traded content studio and a premium subscription platform,” Lionsgate CEO Jon Feltheimer said in a statement.
The Form 10 filing lays...
On Wednesday, the Hollywood studio disclosed the public filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission around its planned separation into two independent, publicly traded companies.
Lionsgate said the potential separation would spin off its studio business, including the Motion Picture and Television Production groups, into a separately traded public company, while the media networks business, which mostly comprises Starz, would remain in the existing company.
“We remain excited by the prospect of separating Lionsgate and Starz into standalone companies with strong financial foundations that will allow each company to pursue its own distinct strategy while offering investors the opportunity to own both a pure-play publicly-traded content studio and a premium subscription platform,” Lionsgate CEO Jon Feltheimer said in a statement.
The Form 10 filing lays...
- 7/12/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
The official trailer for Expendables 4, written as Expend4bles – looks great in print, sounds weird if you say it as it’s spelled – shows Jason Statham and Megan Fox getting physical while the tagline declares: “Some relationships are built to last and some relationships are…Expendable.” The two-minute trailer then shows action fans a montage of select members of the ensemble cast, including Sylvester Stallone, Curtis 50 Cent Jackson, Dolph Lundgren, and Andy Garcia.
Directed by Scott Waugh, the fourth film of the action franchise also stars Tony Jaa, Iko Uwais, Randy Couture, Jacob Scipio, and Levy Tran.
Kurt Wimmer, Tad Daggerhart, and Max Adams wrote the screenplay, based on characters created by David Callaham. Avi Lerner, Trevor Short, Boaz Davidson, Robert Van Norden, Jeffrey Greenstein, Jonathan Yunger, Spenser Cohen, Anna Halberg, and Stephen Paul executive produce. Additional executive producers include Gareth West, Allen Dam, Michael S. Constable, Lati Grobman,...
Directed by Scott Waugh, the fourth film of the action franchise also stars Tony Jaa, Iko Uwais, Randy Couture, Jacob Scipio, and Levy Tran.
Kurt Wimmer, Tad Daggerhart, and Max Adams wrote the screenplay, based on characters created by David Callaham. Avi Lerner, Trevor Short, Boaz Davidson, Robert Van Norden, Jeffrey Greenstein, Jonathan Yunger, Spenser Cohen, Anna Halberg, and Stephen Paul executive produce. Additional executive producers include Gareth West, Allen Dam, Michael S. Constable, Lati Grobman,...
- 6/7/2023
- by Rebecca Murray
- Showbiz Junkies
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