by Malinda Masing
(30)
ABOUT
Lions Gate Entertainment Corporation, better known as simple Lionsgate, is a $2 billion international entertainment company with presence in both motion pictures and television productions. It is involved in the development and production of feature films, acquisition of worldwide distribution rights, theatrical and television distribution of feature films in North America, and international licensing of distribution rights to feature films produced and acquired, and has nearly 500 employees. Previously the company was known as 3369382 Canada Limited but changed its name to Lions Gate in 1997, the same year in which it was incorporated. Lionsgate is based in Santa Monica, California. It is the most commercially successful independent film company within North America as of 2011, and because it acts as an independent film company it is able to produce films and series that are more controversial. (1)(2)(4)
HISTORY
Lionsgate is a result from the merger of Lions Gate Entertainment Corp. and Beringer Gold Corp. in November 1997. Before this, Beringer Gold Corp. was incorporated under the Business Corporation Act in British Columbia in 1986 as IMI Computer Corp. In April 1997, Lions Gate Entertainment Corp. was incorporated under the Canada Business Corporations Act using the name 3369382 Canada Limited. It amended its articles in July 1997 to change its name to Lions Gate Entertainment Corp. (2)
Frank Giustra officially founded Lionsgate in 1997. (32)
Beginning in the summer of 1997, Lionsgate expands as it purchases Cinepix, North Shore Studios, and TV mogul, Peter Guber’s, Mandalay TV Peter Guber. Lionsgate international is also formed, and acts as an international distributing center based in Los Angles. The X-Files are also produced by Lionsgate in 1997 through North Shore .
In 1998 and continuing onward, Lionsgate receives attention, both positive and negative for releasing the controversial films. The first of these were Lolita (1998) and American Psycho (2000).
In June of 1998, Lionsgate makes a deal with Guber work with Mandalay Pictures, which would allow for the production of more feature films. This same year, Lionsgate purchases International Movie Group, Inc. (IMG), allowing access to the corporation’s movie database. IMG’s holdings are integrated into Lionsgate’s other operations, and its former CEO Peter Strauss is named president of newly formed Lions Gate Entertainment, Inc., would the American parent company for Lions Gate’s U.S. interests.
In 1999, fiscal reports show losses of $9.3 million on revenues of $78.3 million. This leads to the subsequent termination of its association with Guber’s Mandalay Television.
At the start of the 2000 year, Giustra steps down from his position as CEO and Jon Feltheimer takes his place. Giustra retains his board chairman duties. President Doroniuk soon quits, having been passed over for Giustra’s job. Lionsgate takes receives Oscars for The Red Violin and Sleepy Hollow.
The Red Violin wins an Academy Award for Best Original Score in 1998. (33)
In the summer of 2000, Lionsgate purchase the low-budget film and video distributor Trimark, which specialized in action and genre films and had a 650-title library. (4)
Lionsgate has a string of notable releases, including Saw (2004) (6) and Fahrenheit 9/11 (2004). (7)
In July 2006 Lionsgate acquires Debmar-Mercury, who owns distribution rights to Comedy Central’s South Park and Tyler Perry’s House of Payne. (8)
Lionsgate closes a deal to purchase a minority ownership stake in the independent theatrical distribution company Roadside Attractions in July of 2007. (9)
In late January of 2009, Lionsgate announces that it may merge with Summit Entertainment, which would result in Lionsgate obtaining rights to the Twilight franchise. (10)
In October of 2009 Lionsgate, MGM and Paramount Pictures/Viacom, launch Epix, a pay TV movie channel, which rivals HBO and Showtime. This allows for the airing of Lionsgate produced films on television, and currently reaches 30 million homes. (11)
On March 23, 2012, Lionsgate released the anticipated feature film, The Hunger Games, globally. The film set the record as Lionsgate’s highest grossing film, with $155 million after the opening weekend. (12)
Since 1997, over 200 films have been released under the Lionsgate name. As of April 2012, Lionsgate films grossed $3.43 billion domestically and $5.68 billion internationally. (13)
A more in-depth timeline of events which includes more detailed description of Lionsgate’s television involvement is found here. (19)
FILMS
Lionsgate owns nearly 13,000 television and film titles and releases around 15 films a year. It has earned 55 Academy Award nominations and 10 Oscars, making it the most successful independent film studio. (2)
A complete list of Lionsgate films is here. (13)
DISTRIBUTION
Lionsgate operates internationally through its own facilities as well as partner affiliates.
United Kingdom:
- Momentum Pictures, 2000- present
- Lions Gate UK (previously Redbus Film Distribution), 2006-present (14)
France:
- Metropolitan Filmexport, 2005–present (15)
Australia/New Zealand:
- Hoyts, 2000-2009 (16)
- Village Roadshow Limited, 2009-present (17)
Canada:
- Maple Pictures, 2005-2011
- Alliance Films, 2011-present (18)
RECENT ACTIVITY
The Hunger Games poster (31)
Lionsgate purchased Summit Entertainment on January 13, 2012 for $412.5 billion. The deal had been in the works for the months leading up to the acquisition, with Colony Capital also looking to purchase Summit. Lionsgate has also purchased the debt of Summit, but this is estimated to be paid off by the revenues from the Twilight franchise which Summit owned. (27) The merger resulted in 80 employee layoffs. (28)
The Hunger Gameswas released on March 23, and has so far grossed $601 million worldwide. The film has dropped from number one to number four in the box office, and is expected to reach $400 million domestically. (22) It is currently nominated for an MTV film award. (23) the film’s success is partially to do with the already existing popularity of the dystopian book series as well as the internet based marketing campaign. (24)
Lionsgate continues to market The Hunger Games with online games (25) and video game production is currently within the works. (26) The sequel to The Hunger Games, Catching Fire, is expected to be in theaters fall 2013. (29)
FINANCIAL DATA
Lionsgate acts as a public corporation with its trade symbol as NYSE:LGF. (20)
Its total revenue for the 2011 fiscal year was $1.584 billion in the US and its net income was $122 million. (21)
MANAGEMENT (3)
Jon Feltheimer
Co-Chairman and Chief Executive Officer
Michael Burns
Vice Chairman
Steve Beeks
President and Co-Chief Operating Officer
Joe Drake
President, Motion Picture Group and Co-Chief Operating Officer
Jim Keegan
Chief Financial Officer
Wayne Levin
General Counsel and Executive Vice President of Corporate Operations
CONTACT
Lions Gate Entertainment Corp.
2700 Colorado Avenue
Suite 500
Santa Monica, CA 90404
United States
Phone: 877-848-3866
Fax: 310-255-3870
Website: http://www.lionsgate.com
SOURCES
(1) http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C124E5430
(2) http://investors.lionsgate.com/phoenix.zhtml?c=62796&p=irol-faq
(4) http://www.fundinguniverse.com/company-histories/lions-gate-entertainment-corporation-company-history.html
(5)http://finance.yahoo.com/q/pr?s=LGF+Profile
(6)http://www.indiewire.com/article/lions_gate_gets_world_rights_to_sundance_midnight_film_saw
(7) http://boxofficemojo.com/movies/?page=intl&id=fahrenheit911.htm
(8) http://www.prnewswire.com/news-releases/lionsgate-expands-into-television-syndication-business-acquires-debmar-mercury-55979072.html
(9) http://www.thefreelibrary.com/Lionsgate+Stakes+Claim+in+Roadside+Attractions-a0166820122
(10) http://www.thewrap.com/movies/article/lionsgate-may-buy-summit-1209
(12) http://www.nytimes.com/2012/03/26/movies/hunger-games-breaks-box-office-records.html?_r=1
(13) http://www.the-numbers.com/movies/series/LionsGate.php
(14) http://corporate.lionsgate.com/executivebio.asp
(15) http://www.imdb.com/company/co0013658/
(16) http://www.hoytsdistribution.co.nz/archive
(17) http://www.villageroadshow.com.au/Company-Profile/Film-Distribution.htm
(18) http://www.hollywoodreporter.com/news/alliance-films-takes-maple-pictures-221549
(19) http://www.tiki-toki.com/timeline/entry/38937/Lionsgate-Entertainment-Corporation/
(20) http://www.nyse.com/about/listed/lcddata.html?ticker=LGF
(21) http://finance.yahoo.com/q/bs?s=LGF&annual
(22) http://www.mtv.com/news/articles/1684121/hunger-games-international-box-office.jhtml
(23) http://insidemovies.ew.com/2012/04/30/hunger-games-bridesmaids-top-mtv-movie-award-nominees/
(24) http://www.thewrap.com/movies/article/after-hunger-games-lionsgate-re-ups-marketing-chief-tim-palen-37381
(25) http://www.thehungergames.co.uk/game
(26) http://www.tgdaily.com/games-and-entertainment-brief/62551-hunger-games-video-game-is-in-the-works
(27) http://www.reuters.com/article/2012/01/13/idUS314811420620120113
(28) http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/03/lions-gate-cuts-80-jobs-following-summit-acquisition.html
(29) http://online.wsj.com/article/SB10001424052702304811304577370074121864652.html
(30) http://www.youtube.com/watch?v=143RkanKBkc
(31) http://www.blogcdn.com/www.cambio.com/media/2011/12/hunger-games-poster-121511_310x300.jpg
(32) http://media.zenfs.com/en_US/News/TheWrap/FrankGiustraPicture.jpg
(33) http://www.dvdsreleasedates.com/posters/800/T/The-Red-Violin-1999-movie-poster.jpg