DIC Teams With Lions Gate In Home Video Deal
DIC Entertainment has signed an exclusive North American home video distribution deal for its extensive library of animation with Lions Gate Home Entertainment. This move marks the first deal for DIC's Worldwide Home Entertainment division since CEO Andy Heyward, along with Bain Capital, purchased DIC back from Disney in November 2000. The first releases on VHS and DVD slated for August are SABRINA, THE ANIMATED SERIES and MUMMIES ALIVE! Other titles set for release include MADELINE, SONIC THE HEDGEHOG, CARMEN SANDIEGO, INSPECTOR GADGET and ACTION MAN. "Home Entertainment represents a significant source of revenue for any entertainment company, and I could not be more pleased that Lions Gate aggressively and enthusiastically pursued this distribution agreement. They have an exceptional sales staff, an innovative marketing team and a management staff marked by integrity and trust," said Don Gold, DIC's executive vice president of worldwide home entertainment. Peter Block, president of home entertainment, acquisitions and new media, said, "DIC has an extensive catalog of animated titles that have tremendous recognition and brand awareness across all generations, and we are honored that DIC has chosen Lions Gate as its distributor. DIC has a fantastic management team in place and has been a company that continues to re-invent itself, and these factors were extremely important in our decision to distribute DIC titles. This is a key acquisition in building our sell-through catalog to the heights we believe it can soar to, and we look forward to our continuing relationship with DIC."