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Lions Gate Entertainment

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.
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ENTERTAINMENT
March 22, 2005 | From a Times staff writer
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.
BUSINESS
August 16, 2002 | From Times Staff and Wire Reports
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.
BUSINESS
November 11, 2008 | Bloomberg News
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.
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
November 10, 2006 | From Reuters
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.
BUSINESS
March 19, 2010 | By Claudia Eller
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.
BUSINESS
April 2, 2005 | Richard Verrier, Times Staff Writer
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.
BUSINESS
March 10, 2012 | By Richard Verrier, Los Angeles Times
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.
BUSINESS
November 8, 2008 | Claudia Eller, Eller is a Times staff writer.
As the economic downturn continues to sweep across Hollywood, Lions Gate Entertainment is eliminating 41 positions, slashing more than 7% of the 550-strong workforce at its Santa Monica-based independent movie and television studio. Seventeen employees were handed pink slips Friday morning across all divisions of the production and distribution company, including motion pictures, television, home entertainment, business affairs, finance and legal.
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