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.
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.
September 13, 2011 |
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.
June 2, 2009 |
Despite a strong quarter at the box office thanks to Tyler Perry's "Madea Goes to Jail," "My Bloody Valentine" and "The Haunting in Connecticut," Lions Gate Entertainment Corp. recorded a loss of $28.6 million, or 25 cents a share, on revenue of $463.2 million, compared with a profit of $29.8 million in the year-earlier period. Lions Gate stock fell 5%, to $5.96 in after-hours trading Monday after closing at $6.26, up 6 cents.
July 10, 2010 |
Lions Gate Entertainment and Carl Icahn are hitting the pause button on their battle for control of the movie and television production company. They will spend the next 10 days searching for common ground on potential mergers and acquisitions, according to a letter sent to Icahn by Lions Gate Vice Chairman Michael Burns on Friday.
May 27, 2006 |
Could Hollywood's last remaining independent studio become billionaire investor Carl Icahn's next prey? The veteran corporate raider has accumulated a stake of nearly 4% in Lions Gate Entertainment Corp., the company behind the Oscar-winning film "Crash" and the horror franchise "Saw." Icahn has built an $8-billion fortune buying shares of underperforming companies such as Blockbuster Inc. and TWA and pressuring them to sell off assets or cut costs to lift share prices.
August 10, 2005 |
Two weeks after announcing disappointing financial results, Beckman Coulter Inc. reversed course by revising its second-quarter profit upward to reflect a lower tax rate. The Fullerton maker of medical testing equipment said net income for the quarter was $55.2 million, up from the $47.7 million it initially reported. The higher figure stems from a second-quarter tax rate of 14.6%, not the 26.2% rate the company reported in July.
October 21, 2008 |
The barbarian is at the Gate. Activist shareholder Carl Icahn has more than doubled his stake in Lions Gate Entertainment Corp., the independent film and TV studio behind the "Saw" horror movies and the cable shows "Weeds" and "Mad Men." Icahn said in a regulatory filing that he spent $86.3 million acquiring Lions Gate shares, boosting his 3-year-old stake in the firm to 9.2%.
May 18, 2010 |
Lions Gate Entertainment and activist investor Carl Icahn have begun settlement talks to end their long-running fight for control of the company. In a filing with the Securities and Exchange Commission on Monday, the Santa Monica movie and TV studio acknowledged for the first time that it is in discussions with Icahn and may soon begin formal negotiations. Icahn has put a specific proposal on the table, which will be considered by a special committee of the Lions Gate board of directors, people familiar with the matter said.
June 24, 2010 |
Lions Gate Entertainment, the embattled studio under siege from dissident investor Carl Icahn, has been holding merger discussions with the management of beleaguered Metro-Goldwyn-Mayer, according to people close to the situation. The talks, if successful, could result in a powerful independent studio with a library of thousands of movies and television shows that would be run by Lions Gate's management team. People with knowledge of the discussions said that Lions Gate Chief Executive Jon Feltheimer and Vice Chairman Michael Burns were pursuing a merger with MGM to fend off a takeover attempt by Icahn, who has accumulated nearly one-third of Lion Gate's stock and has threatened to wage a proxy war to gain control.