March 19, 2010 |
One week after Lions Gate Entertainment rejected his holdings in the studio, investor Carl Icahn is launching a hostile takeover bid for the entire company. Icahn is offering $6 a share, which sent Lions Gate shares rising above the offer price in early morning trading. Icahn, who owns nearly 19% of Lions Gate, has been steadily increasing his stake in the studio and recently launched a tender offer to up his stake to nearly 30%. The investor has been angling for more control over Lions Gate, which operates out of Santa Monica under the leadership of chief executive Jon Feltheimer and vice chairman Michael Burns.
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.
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.
April 2, 2005 |
Completing a proposed acquisition of the company behind Thomas the Tank Engine, Bob the Builder and Barney may not be child's play. Lions Gate Entertainment, a Canadian company that operates mostly in Santa Monica, is mulling over an unsolicited offer for Britain's Hit Entertainment that could torpedo a deal that a private equity firm previously reached to buy Hit, a source familiar with the matter said Friday.
March 10, 2012 |
Santa Monica-based Lions Gate Entertainment is laying off about 80 people in the wake of its acquisition of Summit Entertainment, a source familiar with the matter said. In a move to bolster its film and TV library and better compete with larger studios, Lions Gate agreed in January to acquire Santa Monica-based Summit Entertainment, producer of the hit young-adult "Twilight" franchise, for $412.5 million in cash and stock. Layoffs at both companies were anticipated as they merged their motion picture and home entertainment operations.
March 22, 2000 |
Jon Feltheimer has been named vice chairman and chief executive of Lions Gate Entertainment, the Vancouver, Canada-based entertainment company and distributor of independent films such as "Dogma" and the upcoming "American Psycho." Feltheimer, who until last year was president of Sony Pictures Entertainment's television group, became a director of Lions Gate in January, after spearheading a $33-million round of financing for the company.
September 18, 2010 |
Carl Icahn's appetite for Hollywood is growing beyond Lions Gate Entertainment. The activist investor is once again quietly buying up debt in Metro-Goldwyn-Mayer, people familiar with the situation said. He also has amassed a substantial amount of debt in troubled home-video chain Blockbuster Inc. Icahn had accumulated and then sold debt in MGM earlier this year. In the last few weeks he has acquired what one person close to the situation described as a single-digit percentage in the studio's nearly $4 billion worth of debt.