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.
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.
November 10, 2009 |
Solid gains in its television production business, new revenue from its recently acquired TV Guide Network and lower movie marketing costs helped swing Lions Gate Entertainment to a profit in the company's fiscal second quarter. The Santa Monica film and TV studio, producer of the Tyler Perry movies and "Mad Men" TV series, reported net income of $31.7 million for the quarter ended Sept. 30, compared with a net loss of $51.8 million for the same period last year. Revenue increased 3% to $393.
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%.
October 11, 2002 |
To the world's largest entertainment companies, the controversial Kazaa file-sharing network is Public Enemy No. 1--a wildly popular source of free, downloadable music and movies. But to Lions Gate Entertainment, an independent film studio based in Marina del Rey, Kazaa is the means to a more profitable end. Breaking ranks with mainstream Hollywood, the company is using Kazaa to promote its big fall film through the Internet--with the financial help of Microsoft Corp.
January 14, 2010 |
Lions Gate Entertainment has taken a lead in the bidding for "Terminator," but competition for rights to the 26-year-old science fiction franchise is likely to heat up in the next month. In a federal Bankruptcy Court filing Wednesday, Halcyon Group, the independent production company owned by Derek Anderson and Victor Kubicek, asked a judge to approve naming Lions Gate as "stalking horse" bidder for the "Terminator" rights. The two producers put the film rights up for sale in September to raise cash as they work their way out of Chapter 11 reorganization.