September 14, 2005 |
Lions Gate Entertainment Corp., a distributor of independent films such as "Monster's Ball" and "Fahrenheit 9/11," offered to buy Image Entertainment Inc. for as much as $92.8 million in stock. Santa Monica-based Lions Gate said it offered to pay 0.38 to 0.42 of a share of Lions Gate stock -- valued at as much as $4.37 -- for each share of Chatsworth-based Image, which has 21.3 million shares outstanding. The offer was reported after the stock market closed Tuesday.
May 26, 2004 |
Marvel Enterprises Inc. is teaming with Lions Gate Entertainment Corp. to enter the direct-to-DVD video cartoon market. The comic book giant, whose 4,700-character library features such big names as Spider-Man and X-Men, said the agreement with Lions Gate covered eight original animated projects based on "certain characters within the Marvel universe."
May 16, 2003 |
Canadian mining executive Frank Giustra has sold 2.5 million of his shares in Lions Gate Entertainment and will cut his formal ties to the Vancouver, Canada-based independent film company he founded. Andre Link, president of Lions Gate, will succeed Giustra as chairman, while Jon Feltheimer will remain as chief executive, operating out of the firm's Marina del Rey offices. Giustra, who will retain 500,000 shares, formed Lions Gate in 1997 and was CEO until 2000.
March 22, 2005 |
Lions Gate Family Entertainment has acquired the North American distribution rights to "Foodfight!," the 3-D animated film from Larry Kasanoff's Threshold Animation Studios. Slated for a nationwide fall 2006 release, "Foodfight!" takes place after hours in a supermarket that comes to life as a city of its own.
August 16, 2002 |
Flush with earnings from surprise hit "Monster's Ball," Lions Gate Entertainment Corp. reported a fiscal first-quarter profit Wednesday as the DVD and video release of the Oscar-winning film helped to double revenue from a year earlier. The Vancouver, Canada-based film and television producer and distributor reported net income of $2.7 million, or 4 cents a share, for the quarter ended June 30, contrasted with a loss of $335,000, or 3 cents a share, a year earlier. Revenue rose to $94.
November 11, 2008 |
Lions Gate Entertainment Corp., the biggest independent film studio, reported a narrower fiscal second-quarter loss on gains from home entertainment and TV. The net loss for the period ended Sept. 30 narrowed to $48.1 million, or 41 cents a share, from $58 million, or 49 cents, a year earlier, the producer of the "Saw" movies said. Sales rose 8.2% to $380.7 million, missing the $382-million average of analysts' estimates compiled by Bloomberg.
August 10, 2007 |
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.
February 10, 2009 |
Independent film studio Lions Gate Entertainment Corp. fell to a wider-than-expected loss in the third quarter as movies such as "Transporter 3" and "The Spirit" underperformed and operating costs rose. Its results widely missed Wall Street expectations, sending its shares tumbling in after-hours trading. The company, which operates under the Lionsgate name, lost $93.4 million, or 81 cents a share, compared with a profit of $7.3 million, or 6 cents, a year earlier. Revenue rose 8% to $324 million.
November 10, 2006 |
Lions Gate Entertainment Corp., the independent producer of movies including "Saw III" and "Employee of the Month," reported a quarterly loss that was about the same as a year earlier, as home video revenue slipped. The net loss in the company's fiscal second quarter was $14.4 million, or 14 cents a share, compared with a net loss of $14.1 million, or 14 cents, a year earlier. Revenue advanced to $218.2 million from $211 million.
September 29, 2006 |
Image Entertainment Inc. accused Lions Gate Entertainment Corp. of fraud in its proxy fight with Image in a letter to the Securities and Exchange Commission made public Thursday. Lions Gate launched a bid to replace six of Chatsworth-based Image's seven directors after the company's board failed to present buyout offers from Lions Gate to its shareholders. With a 19% stake, Lions Gate, based in North Vancouver, Canada, is Image's second-largest shareholder.