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Joe Drake

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BUSINESS
May 2, 2012 | Los Angeles Times
Former Lionsgate movie chief Joe Drake, who was squeezed out of his job as part of the independent studio's acquisition of Summit Entertainment, is joining his former Mandate Pictures business partner Nathan Kahane to launch a new film finance, sales and production company called Good Universe. Mandate is best known for quirky low-budget films such as "Juno" and "Harold and Kumar Go to White Castle," as well as horror films including "The Grudge" from its Ghost House label, a joint venture with director Sam Raimi.
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NEWS
July 30, 2012 | By Ben Fritz
Executives at Lions Gate Entertainment Corp. received significantly increased bonuses in the last fiscal year, following the Santa Monica studio's successful launch of "The Hunger Games," its acquisition of Summit Entertainment and a more than 100% rise in its stock price. Details on the compensation of top executives at Lions Gate were disclosed in the company's proxy filing with the Securities and Exchange Commission before its annual meeting, which will be held Sept. 11 in Toronto.
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NEWS
July 30, 2012 | By Ben Fritz
Executives at Lions Gate Entertainment Corp. received significantly increased bonuses in the last fiscal year, following the Santa Monica studio's successful launch of "The Hunger Games," its acquisition of Summit Entertainment and a more than 100% rise in its stock price. Details on the compensation of top executives at Lions Gate were disclosed in the company's proxy filing with the Securities and Exchange Commission before its annual meeting, which will be held Sept. 11 in Toronto.
BUSINESS
May 2, 2012 | Los Angeles Times
Former Lionsgate movie chief Joe Drake, who was squeezed out of his job as part of the independent studio's acquisition of Summit Entertainment, is joining his former Mandate Pictures business partner Nathan Kahane to launch a new film finance, sales and production company called Good Universe. Mandate is best known for quirky low-budget films such as "Juno" and "Harold and Kumar Go to White Castle," as well as horror films including "The Grudge" from its Ghost House label, a joint venture with director Sam Raimi.
BUSINESS
February 11, 2011 | By Ben Fritz, Los Angeles
Facing challenging film economics, Lions Gate Entertainment Corp. is launching a new initiative to release up to 10 low-budget movies a year costing less than $2 million each to produce. Chief Executive Jon Feltheimer announced the plans in a conference call with analysts Thursday to discuss the Santa Monica film and television studio's financial performance in the quarter that ended Dec. 31. Feltheimer said the low-cost endeavor was one of the key steps the studio was taking to deal with a "motion picture environment facing head winds.
ENTERTAINMENT
January 13, 2012 | By Ben Fritz, Los Angeles Times Staff Writer
Bringing Hollywood's two biggest independent film studios and the blockbuster young adult franchises "Twilight" and "The Hunger Games" into one powerful entity, Lions Gate Entertainment has agreed to acquire Summit Entertainment for $412.5 million in cash and stock. The two Santa Monica-based companies have engaged in on-and-off merger talks since late 2008 as Lions Gate has sought to bolster its library of film and TV properties and Summit's investors have tried to find a way to cash in on the lightning-in-a-bottle success of its "Twilight" movie series, which has grossed $2.5 billion worldwide over four films.
BUSINESS
September 13, 2011 | By Ben Fritz, Los Angeles Times
In "The Hunger Games," 24 teenagers fight to the death in a tournament whose slogan is "May the odds be ever in your favor. " Executives at Lions Gate Entertainment are hoping those words will ring true for them as they gamble on the most anticipated literary adaptation to hit Hollywood since "Twilight" and "Harry Potter. " The first of four planned "Hunger Games" films, based on Suzanne Collins' bestselling trilogy, wrapped production in North Carolina on Saturday and will hit theaters March 23. A successful "Hunger Games" franchise could transform the studio, much as "Twilight" did rival Summit Entertainment, by providing reliable income for years from box-office, DVD and digital sales as well as television licensing and merchandise.
BUSINESS
January 21, 2012 | By Ben Fritz, Los Angeles Times
Rob Friedman and Patrick Wachsberger, co-chairmen of "Twilight" studio Summit Entertainment, have been named co-chairmen of the motion picture group for Lions Gate, which acquired Summit on Jan. 13 for $412.5 million. In their new jobs, the duo will be in charge of all film production, acquisition, distribution and marketing operations at the combined studio, as well as new home-entertainment releases of theatrical titles. They will report directly to Lions Gate Chief Executive Jon Feltheimer.
BUSINESS
August 10, 2007 | Lorenza Munoz, Times Staff Writer
Lions Gate Entertainment Corp. is in final discussions to acquire Mandate Pictures, a production and foreign sales company based in Beverly Hills, for more than $40 million. Mandate was one of the producers of such movies as "The Grudge" and the upcoming "Mr. Magorium's Wonder Emporium." It will continue to operate out of its Beverly Hills office selling movie projects to other studios and international rights to foreign territories.
BUSINESS
September 11, 2007 | From Bloomberg News
Lions Gate Entertainment Corp. bought the independent movie production company Mandate Pictures, maker of "Stranger Than Fiction," for $56.3 million. Lions Gate, the largest independent U.S. film studio, is paying $44.3 million in cash and $12 million in stock over an 18-month period. The Vancouver, Canada-based company, which is run out of Santa Monica, said Monday that it also would assume $6.6 million of Mandate's debt.
BUSINESS
January 21, 2012 | By Ben Fritz, Los Angeles Times
Rob Friedman and Patrick Wachsberger, co-chairmen of "Twilight" studio Summit Entertainment, have been named co-chairmen of the motion picture group for Lions Gate, which acquired Summit on Jan. 13 for $412.5 million. In their new jobs, the duo will be in charge of all film production, acquisition, distribution and marketing operations at the combined studio, as well as new home-entertainment releases of theatrical titles. They will report directly to Lions Gate Chief Executive Jon Feltheimer.
ENTERTAINMENT
January 13, 2012 | By Ben Fritz, Los Angeles Times Staff Writer
Bringing Hollywood's two biggest independent film studios and the blockbuster young adult franchises "Twilight" and "The Hunger Games" into one powerful entity, Lions Gate Entertainment has agreed to acquire Summit Entertainment for $412.5 million in cash and stock. The two Santa Monica-based companies have engaged in on-and-off merger talks since late 2008 as Lions Gate has sought to bolster its library of film and TV properties and Summit's investors have tried to find a way to cash in on the lightning-in-a-bottle success of its "Twilight" movie series, which has grossed $2.5 billion worldwide over four films.
BUSINESS
September 13, 2011 | By Ben Fritz, Los Angeles Times
In "The Hunger Games," 24 teenagers fight to the death in a tournament whose slogan is "May the odds be ever in your favor. " Executives at Lions Gate Entertainment are hoping those words will ring true for them as they gamble on the most anticipated literary adaptation to hit Hollywood since "Twilight" and "Harry Potter. " The first of four planned "Hunger Games" films, based on Suzanne Collins' bestselling trilogy, wrapped production in North Carolina on Saturday and will hit theaters March 23. A successful "Hunger Games" franchise could transform the studio, much as "Twilight" did rival Summit Entertainment, by providing reliable income for years from box-office, DVD and digital sales as well as television licensing and merchandise.
BUSINESS
February 11, 2011 | By Ben Fritz, Los Angeles
Facing challenging film economics, Lions Gate Entertainment Corp. is launching a new initiative to release up to 10 low-budget movies a year costing less than $2 million each to produce. Chief Executive Jon Feltheimer announced the plans in a conference call with analysts Thursday to discuss the Santa Monica film and television studio's financial performance in the quarter that ended Dec. 31. Feltheimer said the low-cost endeavor was one of the key steps the studio was taking to deal with a "motion picture environment facing head winds.
BUSINESS
October 15, 2011 | By Ben Fritz, Los Angeles Times
With its last three films flopping at the box office and the high-stakes release of "The Hunger Games" looming, Lionsgate is bringing some big new names into its film division. The Santa Monica studio has hired veteran marketing executive Terry Press as a consultant to help plan and execute the advertising campaign for "Hunger Games," the $80-million-plus production based on the bestselling book trilogy; the film opens in March. Press spent more than a decade as a top marketing executive at DreamWorks before leaving in 2007 to run her own company.
ENTERTAINMENT
September 18, 2011 | By Amy Kaufman, Los Angeles Times
Taylor Lautner thought he was safe. The 19-year-old actor — best known to millions of moviegoers as heartsick werewolf Jacob Black from the "Twilight" movies — had driven from the home he shares with his parents in Valencia, a tranquil planned community about 30 miles north of Hollywood, to a downtown Los Angeles hotel. He had arrived for an interview to discuss his new action film, "Abduction," out Friday. The movie, the first directed by John Singleton ("Boyz N the Hood")
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