May 6, 2005 |
Lions Gate Entertainment Corp. said it decided against making an offer to buy HIT Entertainment, the owner of children's characters including Bob the Builder. Lions Gate spent the last month reviewing HIT Entertainment's financials. A transaction "does not create the level of additional shareholder value that would be a prerequisite for moving forward," Lions Gate Chief Executive Jon Feltheimer said in a statement.
June 3, 2000 |
A proposed $50-million cash-and-stock acquisition of Trimark Pictures by Lions Gate Entertainment is expected to be presented to the boards of each company next week, sources said. In addition to paying shareholders $10 a share, Vancouver, Canada-based Lions Gate also would assume $35 million of Trimark's debt. Trimark is a Santa Monica entertainment company.
January 26, 2006 |
Lions Gate Entertainment Corp. agreed to sell its film studio in Canada to Bosa Development Corp. for $36.1 million. Bosa Development will get eight sound stages on 14 acres in North Vancouver. The sale will be completed March 15. Bosa Development is adding to its holdings in Mammoth Studios, where "X-Men 2" and "Fantastic Four" were filmed. Bosa's combined studio will be the largest facility in Canada with more than 500,000 square feet of sound stages and production space.
March 25, 2006 |
Lions Gate Entertainment Corp. asked a judge to order takeover target Image Entertainment Inc. to hold elections for the full board at its annual meeting. The North Vancouver, Canada-based company seeks to block Chatsworth-based Image from creating staggered terms for directors and wants all six seats, rather than just two, put to a vote this year. Delaware Chancery Court Judge William B. Chandler III ordered an April 25 hearing on the suit. The date of Image's annual meeting hasn't been set.
December 6, 2005 |
Lions Gate Entertainment Corp., which has headquarters in Canada and Santa Monica, lowered its 2006 profit forecast by 57%, citing "disappointing" ticket sales from its movie "In the Mix." Its shares fell 12%. Earnings will be $15 million for the fiscal year ending March 31, the company said. Lions Gate was expected to have a $26.7-million profit, analysts' average estimate in a Thomson Financial survey. "In the Mix" has had $8.7 million in ticket sales since it was released two weeks ago.
November 10, 2005 |
Lions Gate Entertainment Corp. reported a loss for its second quarter, citing marketing costs for two films. The independent movie and television studio, based in Vancouver, Canada, and in Santa Monica, posted a net loss of $14.1 million, or 14 cents a share, for the quarter ended Sept. 30. That contrasted with a profit of $8.3 million, or 8 cents, a year earlier. Revenue fell 8% to $212.6 million.
October 21, 2005 |
DVD and compact disc producer Image Entertainment Inc. of Chatsworth said it asked independent film studio Lions Gate Entertainment Corp. to raise its takeover bid by the end of October. At the end of August, Lions Gate made an unsolicited offer that valued Image at $83 million to $92 million. The company, which already owns about 19% of Image, proposed swapping 0.38 to 0.42 of one of its shares for each Image share it did not already own.
August 10, 2004 |
Lions Gate Entertainment Corp. Chief Executive Jon Feltheimer said the film company would focus on making movies with lower production budgets that appeal to specific audiences. "Quite a few franchise properties have come out of the lower-budget genre area, and that's where we think we are as good as anybody," he said. "It's an area where we can make films for less than $10 million, and we can market them to a very specific demographic."
June 30, 2004 |
Lions Gate Entertainment Corp., co-distributor of the controversial Michael Moore film "Fahrenheit 9/11," reported a steep full-year loss as a jump in marketing and distribution costs bit into its bottom line. The independent film and television studio, which is based in Vancouver, Canada, but houses most of its operations in Santa Monica, increased its revenue forecasts for fiscal 2005 to $680 million from $650 million. For the year ended March 31, Lions Gate posted a loss of $94.