lions gate entertainment cor (LGF) Key Developments
Patricia Laucella Promotes to President of Business & Legal Affairs for Lionsgate's Motion Picture Group
Apr 15 15
Patricia Laucella has been promoted to President, Business & Legal Affairs for Lionsgate's Motion Picture Group. In her expanded role, Ms. Laucella oversees a business and legal affairs division responsible for negotiating the production and talent deals of a broad portfolio of films that have propelled Lionsgate into a major force at the global box office, generating approximately $2 billion worldwide each of the past three years. In addition, Ms. Laucella has structured and negotiated production and talent deals for the first two installments of Lionsgate's new franchise, Divergent and Insurgent, the upcoming Allegiant and other upcoming event films such as Gods of Egypt, the epic re-imagining of ancient Egypt, the live action Power Rangers series, Peter Berg's action thriller Deepwater Horizon, starring Mark Wahlberg, the supernatural thriller The Last Witch Hunter, starring Vin Diesel, Damien Chazelle'sLa La Land and Wonder.
Lionsgate Partners with Comic-Con International to Launch Subscription Video on Demand Service
Apr 9 15
Lionsgate has partnered with Comic-Con International on a subscription video-on-demand service that will launch later this year. The new service will launch with a broad portfolio of content including original short-form content created exclusively for the channel's subscribers, films and television series from Lionsgate and other studios designed to appeal to the diverse interests of Comic-Con's fan base as well as exclusive archived footage from Comic-Con's 45-year history. As part of the new channel, the two companies will also work closely to make the Comic-Con International Independent Film Festival (CCI-IFF) a 365-day-a-year online event. Reflecting the tremendous interest in the diverse roster of comics, films and television series showcased at Comic-Con International each year, the two companies plan to roll out the new service beginning with the U.S. later this year.
Lionsgate Partners with Dubai Parks and Resorts for the Hunger Games-Inspired Theme Park Attractions at motiongate™ Dubai
Mar 31 15
Lionsgate is partnering with Dubai Parks and Resorts to bring a Lionsgate zone to motiongate™ Dubai, the Hollywood-themed park opening in Dubai in October 2016. The Lionsgate zone will feature theme park attractions and a retail facility inspired by Lionsgate's TheHunger Games franchise. It will also incorporate a live stage show based on Step Up: All In and Step Up: Revolution, the two recent films in the company's worldwide Step Up franchise.
Lions Gate Entertainment Corp. Enters $375 Million Second Lien Credit and Guarantee Agreement
Mar 17 15
On March 17, 2015, Lions Gate Entertainment Corp. entered into a Second Lien Credit and Guarantee Agreement among the company, the guarantors referred to therein, the lenders referred to therein and JPMorgan Chase Bank, N.A., as administrative agent. Pursuant to the Credit Agreement, the company borrowed term loans in an aggregate amount of $375 million. The company used the proceeds from the term loans to repay in full the amounts outstanding under its existing Second Lien Credit and Guarantee Agreement, dated July 19, 2013, with the remainder to be used to repay amounts outstanding under the company's existing senior revolving credit facility and for general corporate purposes. The following is a brief description of the material provisions of the Credit Agreement. The Term Loans bear interest at a fixed rate of 5.0% interest. The Term Loans will be guaranteed by all of the restricted subsidiaries of the company that guarantee any material indebtedness of the company or any other guarantor, subject, in the case of certain special purpose producers, to receipt of certain consents. Maturity date is March 17, 2022. The Term Loans and the guarantees will be secured by second-priority liens on substantially all of the company's and the guarantors' tangible and intangible personal property, subject to certain exceptions and permitted liens.
Lionsgate Announces Quarterly Cash Dividend, Payable on May 22, 2015
Mar 16 15
Lionsgate announced that its Board of Directors has declared another quarterly cash dividend of $0.07 per common share. The dividend is payable on May 22, 2015 to shareholders of record as of March 31, 2015.