Lionsgate Stakes Claim in Roadside Attractions.
SANTA MONICA, Calif., July 26 /PRNewswire-FirstCall/ -- Lionsgate , the leading independent filmed entertainment studio, announced today that it has closed a deal to purchase a minority ownership stake in the independent theatrical distribution company Roadside Attractions LLC. The announcement was made jointly by Lionsgate's President of Theatrical Films Tom Ortenberg and by Howard Cohen and Eric d'Arbeloff, Co-Presidents of Roadside Attractions.
(Photo: http://www.newscom.com/cgi-bin/prnh/20070726/LATH126-a) (Photo: http://www.newscom.com/cgi-bin/prnh/20070726/LATH126-b)
"With Lionsgate's investment in Roadside Attractions, we are celebrating Lionsgate's origins as a platform for distinctive and truly independent films," said Ortenberg. "The Roadside team has consistently shown taste and savvy in distributing pictures like AMAZING GRACE, LADIES IN LAVENDER and SUPER SIZE ME."
"Lionsgate's investment is a fantastic opportunity for Roadside Attractions and provides us with the resources to get to the next level," said Cohen and d'Arbeloff in a joint statement. "They started in our business, so of course they get it. Lionsgate's investment will allow Roadside to both continue hitting our "singles and doubles" such as our releases of SARAH SILVERMAN: JESUS IS MAGIC and BOYNTON BEACH CLUB, as well as to hit more home runs like AMAZING GRACE."
Having exited the IDP partnership earlier this year, Roadside has been ramping up its own in-house theatrical distribution, marketing and publicity staff to release its films. Lionsgate's investment is passive and Roadside will remain an autonomous entity, theatrically releasing 12 to 14 films a year. Roadside theatrical releases will be distributed through Lionsgate in home entertainment and all ancillary markets.
The deal was negotiated for Lionsgate by Wayne Levin, Executive Vice President, Corporate Operations, Marni Wieshofer, Executive Vice President of Corporate Development, Mark Holloway, Director of Corporate Development, Ortenberg and the law firm O'Melveny and Myers; and by attorney Greg S. Bernstein, Cohen and d'Arbeloff, on behalf of Roadside Attractions.
ABOUT ROADSIDE ATTRACTIONS
Roadside Attractions, started in 2003, is an independent film distribution company committed to championing films that entertain, delight, and enlighten audiences of all kinds. The company works with filmmakers to devise innovative marketing strategies that encourage audiences to see films that are not typical studio fare. Upcoming releases include: STARTING OUT IN THE EVENING, starring this year's Tony(R) winner Frank Langella; TRADE, a thriller about sex trafficking starring Kevin Kline; CHICAGO 10, Bret Morgen's part-documentary, part-animated retelling of the 1968 Chicago riots and trial; the Zen Buddhism documentary HOW TO COOK YOUR LIFE; RIGHT AT YOUR DOOR, an apocalyptic thriller about terrorists bringing the war home to a major American city; and Cannes Director's Fortnight hit CARAMEL.
Previous theatrical releases include: the Academy Award(R)-nominated SUPER SIZE ME; Independent Spirit Award winner THE ROAD TO GUANTANAMO; and such specialized box office hits as LADIES IN LAVENDER and WHAT THE BLEEP DO WE KNOW?. Roadside just had its biggest theatrical success to date with Michael Apted's AMAZING GRACE, which grossed $21 million domestically. Roadside Co-President Howard Cohen previously headed independent film at UTA for seven years and before that headed up acquisitions for The Samuel Goldwyn Company. Co-President Eric d'Arbeloff was an independent producer of such films as LOVELY AND AMAZING (distributed by Lionsgate) and TRICK.
Lionsgate is the leading independent filmed entertainment studio, winning the 2006 Best Picture Academy Award (R) for CRASH, and the Company is a premier producer and distributor of motion pictures, home entertainment, family entertainment, television programming and video-on-demand content. Its prestigious and prolific library of more than 11,000 motion picture titles and television episodes is a valuable source of recurring revenue and a foundation for the growth of the Company's core businesses. The Lionsgate brand is synonymous with original, daring, quality entertainment in markets around the globe.
http://www.lionsgate.com/ For further information, contact: For Lionsgate: Sarah Greenberg 310-255-3856 email@example.com For corporate inquiries, please contact: Peter D. Wilkes 310-255-3726 firstname.lastname@example.org Kelli Easterling 310-255-4929 email@example.com
The matters discussed in this press release include forward-looking statements. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including risk factors as set forth in Lionsgate's 10-K filed with the Securities and Exchange Commission on May 30, 2007. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
CONTACT: Sarah Greenberg, +1-310-255-3856, firstname.lastname@example.org, or corporate inquiries, Peter D. Wilkes, +1-310-255-3726, email@example.com, or Kelli Easterling, +1-310-255-4929, firstname.lastname@example.org, all of Lionsgate
Web site: http://www.lionsgate.com/
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|Date:||Jul 26, 2007|
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