Lions Gate's marble.In a much-anticipated acquisition, Lions Gate Entertainment
The $56.3 million acquisition is comprised of $44.3 million in cash and $12 million in stock to be released over an 18-month period. In addition, Lions Gate will assume about $6.6 million in debt from Mandate, which will be retired immediately. Among the benefits Lions Gate is counting on from the purchase are growth for its library, strengthened executive ranks and an increased ability to secure international rights to films released by other major studios. [ILLUSTRATION OMITTED] The move returns Joe Drake drake 1. male duck. 2. loliumtemulentum. to Lions Gate as co-chief operating officer and president of Lions Gate's Motion Picture Group. He'll have oversight
Oversight may refer to:
staging production - a presentation for the stage or screen or radio or television; "have you seen the new production of Hamlet?" , distribution, marketing, acquisition and international theatrical operations. Drake will continue as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Mandate, which will continue to operate under its existing brand as an autonomous entity under new president Nathan Kahane. It will continue to operate from its current Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. offices with its creative team in place. In the six years since Drake left his position as head of Lions Gate's international distribution division, he founded Mandate, which has been behind projects such as "Stranger than Fiction" and the upcoming family film "Mr. Magorium's Wonder Emporium," a collaboration with Walden Media. Anne Riley-Katz can be reached at (323) 549-5225, ext, 225, or at arilev-katz@labusinessjournal.com |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion