Lionsgate Buys Majority Stake in 3 Arts Entertainment

Variety | 5/30/2018 | Cynthia Littleton
Click For Photo: https://pmcvariety.files.wordpress.com/2017/07/jon-feltheimer.png?w=700&h=393&crop=1

Lionsgate has taken a majority stake in management-production powerhouse 3 Arts Entertainment, a deal that reflects in the entertainment industry’s push to marry premium content providers with global distribution assets.

Lionsgate said 3 Arts would continue to be led by partners Erwin Stoff, Howard Klein, Michael Rotenberg, Molly Madden, Dave Becky, David Miner, and Nick Frenkel. The company was founded in 1991 by Stoff, Klein and Rotenberg. Lionsgate said it would assemble an operating board to oversee the company.

Talent - Management - Company - Shares - Culture

“We’re excited to be partnering with a best-in-class talent management company that shares our entrepreneurial culture and vision for the future,” said Lionsgate CEO Jon Feltheimer. “This deal checks all the boxes — a strategic and accretive transaction for our shareholders and a win/win partnership for both companies. It enables us to deepen our already successful relationship with 3 Arts and allows them to offer a richer palette of opportunities to their clients.”

Financial details of the deal were not disclosed.

Pact - Lionsgate - Pipeline - Arts - Roster

The pact will give Lionsgate a pipeline to 3 Arts impressive roster of stars, writers, directors, and producers. The chase for creative talent has intensified in the past few years amid exponential growth in the demand for original content, fueled by upstart streaming platforms around the world. Lionsgate...
(Excerpt) Read more at: Variety
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