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.
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.
August 10, 2006 |
Lions Gate Entertainment Corp. narrowed its quarterly loss, thanks primarily to strong home video sales of the gospel-inspired DVD franchise by filmmaker Tyler Perry. The independent studio Wednesday reported a loss of $3.6 million in its fiscal first quarter, an improvement from the $21.8-million loss during the same period a year earlier.
August 9, 2008 |
Sharply lower movie marketing costs and a surge in home video revenue helped swing Lions Gate Entertainment Corp. into the black, surprising analysts who expected the company behind the recent Jet Li and Jackie Chan movie "The Forbidden Kingdom" and the "Mad Men" TV series to post a loss. The Santa Monica movie and TV producer and distributor reported net income of $7.1 million, or 6 cents a share, for the fiscal first quarter that ended June 30, contrasted with a loss of $53.
July 13, 2006 |
Continuing its acquisition streak, Lions Gate Entertainment Corp. announced Wednesday that it had bought one of the industry's few remaining independent television distributors. Debmar-Mercury, which owns the distribution rights to Lions Gate's TV series "The Dead Zone," Comedy Central's animated sitcom "South Park" and the Sci-Fi channel's "Farscape," will serve as the in-house distributor for Lions Gate's television product.
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.
November 8, 2008 |
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.
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.
November 29, 2011 |
Lions Gate Entertainment and Summit Entertainment are back in merger talks that would combine two of Hollywood's largest independent studios, according to people with knowledge of the negotiations who are not authorized to speak publicly. Should a deal be consummated, it would bring together one of the movie industry's most successful young adult franchises, Summit's "Twilight," with one of the most highly anticipated new series, "The Hunger Games," from Lions Gate. The two companies, headquartered around the block from each other in Santa Monica, have held on-and-off merger talks since late 2008 but were unable to resolve key issues of price and management control.