lions gate entertainment cor (LGF) Key Developments
Lions Gate Entertainment, Buena Vista International Sign Output Deal for Distribution in Russia
Sep 30 15
Lions Gate Entertainment announced that it has entered into an output agreement with Buena Vista International for distribution of Lionsgate titles in Russia and the rest of the Commonwealth of Independent States (CIS). The agreement will kick off with Lionsgate's revenge thriller Sicario this fall and will also encompass Lionsgate titles such as Francis Lawrence's adventure fantasy, The Odyssey; the first live action Saban's Power Rangers film; and the film adaptation of Hasbro (HAS) property Monopoly. The deal with Buena Vista adds to Lionsgate's network of output agreements with media companies such as StudioCanal in Germany, Nordisk in Scandinavia, Metropolitan Filmexport in France, Leone Film Group in Italy, Belga Films in Benelux, eOne in Spain and Canada, and Roadshow Films in Australia as well as a joint venture distribution partnership with IDC in Latin America.
Lionsgate Promotes Sandra Stern as President of Lionsgate Television Group
Sep 16 15
Lionsgate's television business announced that Sandra Stern has been promoted to President of the Lionsgate Television Group. Ms. Stern spearheads all business, legal, administrative and operational aspects of the division and directs its strategy, transactions and negotiations worldwide. She is charged with exploring innovative production, distribution and digital media strategies to continue a growth trajectory that has taken the Television Group from $8 million in revenue in 2000 to nearly $600 million last year. Ms. Stern has been instrumental in forging new relationships, business models and multiple window financing strategies for Lionsgate successes such as Orange is the New Black, Mad Men, Weeds, Nashvilleand Manhattan. During Ms. Stern's tenure working alongside Mr. Beggs, Lionsgate has built a roster of more than 30 shows on over 20 different networks. The Company has assembled one of the strongest slates in its history this year, driven by the critically-acclaimed hit series Orange is the New Black, recently renewed for its fourth season on Netflix, and the broadcast network series Nashville, renewed for a fourth season on ABC and currently being sold into syndication. Ms. Stern joined Lionsgate in 2003 as Executive Vice President, Business and Legal Affairs, and was promoted to COO of the Television Group in 2005. Before joining Lionsgate, Ms. Stern served as Chief Operating Officer of Artists Television Group, where she helped create and structure the company and directed its business affairs, legal, finance, administrative and production operations. Prior to that, she worked for eight years, first as Senior Vice President, then Executive Vice President, of the Columbia TriStar Television Group at Sony Pictures Entertainment.
Lionsgate Announces Increased Quarterly Cash Dividend, Payable on November 10, 2015
Sep 15 15
Lionsgate announced that its Board of Directors has increased the company's quarterly cash dividend from seven cents ($0.07) per common share to nine cents ($0.09) per common share. The dividend is payable on November 10, 2015 to shareholders of record as of September 30, 2015.
Lionsgate and Starbreeze Partner to Launch John Wick Virtual Reality Game to be developed by VR Innovator WEVR and VR Game Developer GRAB
Aug 7 15
Lionsgate announced that it is partnering with leading game developer and publisher Starbreeze to launch a first- person shooter game in virtual reality based on Lionsgate’s box office hit John Wick. Best in class virtual reality studio and distributor WEVR, the company responsible for theBlu: Encounter, which was used to introduce the HTC Vive VR platform earlier this year, will transport players with the creation of a fully immersive VR experience that will introduce the game. Grab, the acclaimed development team with extensive mobile games and VR experience, will spearhead the development. Starbreeze will be publishing the product across multiple VR platforms. The companies will team to create a standalone, first-person shooter game based on the world and characters of the John Wick films and centered around the infamous Continental Hotel. In addition, Starbreeze will further integrate the John Wick storyline into its wildly popular Payday game, which has over nine million players worldwide, facilitating cross promotion and integration of the two games. John Wick producer Basil Iwanyk of Thunder Road Pictures and the movie's production team will be collaborating closely with the WEVR and Grab teams for the development of the VR game and experience. Starting soon, fans can check out a promotional experience of the game at select events and stops on the HTC Vive World Tour, which is making its way through the United States and Europe. A teaser game will be available at the launch of HTC Vive and available via SteamVR, with the launch timing to be unveiled later this year. The full game is expected to be available on most existing VR headsets in Spring 2016. John Wick was a global box office hit last year, and Lionsgate is currently developing John Wick 2 for release next September.
Lions Gate Entertainment Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2015
Aug 6 15
Lions Gate Entertainment Corp. reported unaudited consolidated earnings results for the first quarter ended June 30, 2015. For the quarter, the company reported revenues of $408,941,000 compared to $449,383,000 a year ago. Operating income was $44,165,000 compared to $47,764,000 a year ago. Income before income taxes was $43,528,000 compared to $54,020,000 a year ago. Net income was $40,684,000 compared to $43,261,000 a year ago. Diluted net income per common share was $0.26 compared to $0.30 a year ago. Net cash flows used in operating activities was $30,883,000 compared to $12,634,000 a year ago. Purchases of property and equipment were $3,248,000 compared to $1,427,000 a year ago. EBITDA was $57,383,000 compared to $67,320,000 a year ago. Adjusted EBITDA was $70,328,000 compared to $88,629,000 a year ago. Free cash flow was $94,725,000 compared to $159,804,000 a year ago. Adjusted net income of $48.9 million or adjusted basic EPS of $0.33 for the quarter compared to adjusted net income of $56.8 million or adjusted basic EPS of $0.41 in the prior year quarter. The company's EBITDA and EPS results in the quarter reflected another strong performance from its television production business, driven by a 73% surge in revenue from licensing of international programming, continued momentum at its EPIX pay television partnership and lower theatrical marketing expenses.