lions gate entertainment cor (LGF) Key Developments
Lionsgate Announces the Acquisition of Distribution Rights to The SMOSH Movie
Sep 18 14
Lionsgate announced the acquisition of distribution rights to The SMOSH Movie. The production was jointly financed by AwesomenessTV, founded and run by Brian Robbins (Varsity Blues, Smallville, Lionsgate's upcoming The Royals), and DEFY Media, a leading independent creator and distributor of digital content, in which Lionsgate has an equity interest.
Lionsgate Appoints Kerry Phelan as Head of Consumer Products and Licensing for Dreamworks Animation
Sep 18 14
Lionsgate appointed Kerry Phelan, a 25-year consumer branding veteran and former head of consumer products and licensing for DreamWorks Animation, to the newly-created position of Executive Vice President of Global Franchise Management and Strategic Partnerships to whom she will report to Chief Marketing Officer Tim Palen. Phelan has played an integral role in growing some of the biggest brands and franchises of all time, including Star Wars, Shrek and LEGO, and she most recently ran Consumer Products & Licensing for DreamWorks Animation, where she significantly increased that studio's consumer products revenue.
Lionsgate Announces Increased Quarterly Cash Dividend, Payable on November 7, 2014
Sep 8 14
Lionsgate announced that its board of directors has increased the company's quarterly cash dividend from $0.05 to seven cents $0.07 per common share. The dividend is payable on November 7, 2014 to shareholders of record as of September 30, 2014.
Entertainment One and Lions Gate Entertainment Corp. Extend Feature Film Output Agreements in Canada, Australia and Spain
Sep 3 14
Entertainment One (eOne) and Lionsgate have extended and expanded their feature film output agreements in Canada, Australia and Spain. The agreements extend eOne distribution across all media through 2018 for Lionsgate and Summit label films in Canada and Spain and Summit films in Australia. The collaboration has already been responsible for launching The Hunger Games, Twilight and Divergent franchises in the three territories, and the upcoming pipeline covered under the agreements includes Mockingjay Parts 1 & 2, the next two installments of the global blockbuster The Hunger Games franchise, the next three films in the Divergent series (Insurgent and Allegiant Parts 1 & 2) and such eagerly-anticipated tentpoles as Gods of Egypt, which just wrapped production in Australia, and Now You See Me 2, which starts production this fall.
Pomerantz LLP Files Class Action Lawsuit Against Lions Gate Entertainment Corp. and Certain of its Officers
Aug 22 14
Pomerantz LLP has filed a class action lawsuit against Lions Gate Entertainment Corp. and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 14-cv-5477, is on behalf of a class consisting of all persons or entities who purchased Lions Gate securities between February 11, 2013 and March 13, 2014, inclusive. This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Act of 1933 and the Securities Exchange Act of 1934. The Complaint alleges that by the start of the Class Period, Lions Gate was under investigation by the U.S. Securities and Exchange Commission for making false and misleading statements and omissions concerning a series of transactions designed to prevent a takeover of the Company by Carl Icahn and his affiliates. During the Class Period, however, Lions Gate and the other defendants misrepresented and/or failed to disclose the existence of the SEC investigation, the prospect of legal proceedings associated with the misconduct under investigation, and the Company's exposure to loss in connection therewith.