Lionsgate Co-Chairman and CEO Jon Feltheimer has signed a new long-term agreement with Lionsgate extending his tenure until March 2014. His previous contract ended March 2011.
Separately, Michael Burns has also reached agreement to extend his contract as Vice Chairman until September 2011. Feltheimer and Burns now will have 25 years' combined experience at the helm of Lionsgate by the end of their respective contracts, reflecting exceptional long-term stability.
Lionsgate has assembled a 12,000-title filmed entertainment library and established a strong beachhead in new channels and digital delivery platforms through such recent acquisitions as: Redbus Film Distributors (subsequently renamed Lionsgate U.K.); the Debmar-Mercury television distribution and syndication company; Mandate Pictures; the launch of the FEARNet channel with partners Sony and Comcast; a 42 percent investment in Break.com; and a 43 percent investment in Roadside Attractions.
Lionsgate's feature film success includes CRASH, MONSTER'S BALL, 3:10 TO YUMA, RAMBO, THE BANK JOB, FORBIDDEN KINGDOM, CRANK and the SAW and Tyler Perry franchises.
Its television business encompasses some of the hottest series on television, including the Emmy Award-winning MAD MEN and WEEDS, in addition to shows such as TYLER PERRY'S HOUSE OF PAYNE, MEET THE BROWNS, THE WENDY WILLIAMS SHOW, TRIVIAL PURSUIT, FAMILY FEUD and SOUTH PARK in distribution and syndication.
The company's home entertainment business has nearly 8% market share and continues its strong growth propelled by the industry's highest box office-to-DVD conversion rate, recent strong gains in Blu-ray sales and continued strength in revenues from library, new theatrical, television-to-DVD, fitness and family entertainment titles. Lionsgate currently has a strong cash position and a new and unused $340 million JP Morgan credit facility.
