SANTA MONICA, Calif.,
July 15, 2021 /PRNewswire/
-- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) has
acquired the vast majority of the Spyglass Media Group, LLC
("Spyglass") feature film library of approximately 200 titles and
formed a strategic content partnership with leading content creator
Spyglass, the two companies announced today. The agreement gives
Lionsgate a 20% investment stake in the company whose major assets
include the latest installment of the Scream blockbuster
horror franchise to be released January 14,
2022, the hit movie The Upside, the iconic fashion
competition series Project Runway, and the revival of the
Hellraiser franchise, currently in pre-production.
The agreement also includes a multiyear first-look television
deal between Lionsgate Television and Spyglass. The library titles
acquired by Lionsgate encompass a broad range of
critically-acclaimed commercial blockbusters including Fruitvale
Station, The King's Speech, Scream 4, Scary
Movie 5, Spy Kids 4, Paddington, Silver
Linings Playbook, Lee
Daniel's The Butler and, adding to the Company's large
and growing portfolio of Quentin
Tarantino titles, Django Unchained, Inglourious
Basterds and The Hateful Eight.
Gary Barber will continue to lead
Spyglass as its Chairman and CEO and Spyglass' senior leadership
team will remain in their current roles.
"This agreement continues to grow our valuable portfolio of IP
while partnering us with Gary
Barber, one of the leading entrepreneurs and content
creators in the business," said Lionsgate CEO Jon Feltheimer. "It is a win/win deal that
creates significant incremental value for both companies while
continuing to add to our global content distribution platform at a
time when the demand for premium content is greater than ever."
"I am grateful for the steadfast support from our strategic
investors and am thrilled to align with Jon
Feltheimer, Michael Burns and
all our partners at Lionsgate as we look forward to expanding our
relationship in creating great content and exploring strategic
opportunities together in the marketplace," said Barber.
"Two years ago, we were excited to team up with Gary and have
him do what he does best --build Spyglass Media Group into a global
premium content company and, in short order, increase shareholder
value. Once again, he successfully exceeded those challenges, and
we are delighted to continue the journey with him," said Spyglass'
strategic investors: Andy Mitchell,
Founder, CEO and Managing Partner of Lantern Capital Partners;
Toby Emmerich, Chairman, Warner
Bros. Pictures Group; Tarak Ben
Ammar, Chairman, Eagle Pictures; and Mooky Greidinger, CEO of Cineworld Group.
The transaction was negotiated for Lionsgate by a team headed by
Lionsgate COO Brian Goldsmith and
Lionsgate EVP & General Counsel Corii Berg, with Sheppard
Mullin LLP acting as legal advisor. The transaction was negotiated
for Spyglass by a team headed by Chief Legal Officer Cheryl Rodman, with Moelis & Company LLC
serving as the exclusive financial advisor and Venable LLP acting
as a legal advisor for Spyglass Media Group.
ABOUT SPYGLASS MEDIA GROUP, LLC
Spyglass Media Group,
LLC is a global premium content company, focused on developing,
producing, financing and acquiring motion pictures and television
programming across all platforms for worldwide audiences. The
company has strategic backing from Lantern Capital Partners,
Lionsgate, Warner Bros., Eagle Pictures and Cineworld Group.
ABOUT LIONSGATE
Combining the STARZ premium global
subscription platform with world-class motion picture and
television studio operations, Lionsgate (NYSE: LGF.A, LGF.B) brings
a unique and varied portfolio of entertainment to consumers around
the world. Its film, television, subscription and location-based
entertainment businesses are backed by a 17,000-title library and
the largest collection of film and television franchises in the
independent media space. A digital age company driven by its
entrepreneurial culture and commitment to innovation, the Lionsgate
brand is synonymous with bold, original, relatable entertainment
for the audiences it serves worldwide.
MEDIA CONTACTS:
Spyglass Media Group:
Kristin
Cotich
kcotich@spyglassmediagroup.com
Lionsgate:
Peter D.
Wilkes
(310) 255-3726
pwilkes@lionsgate.com
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SOURCE Lionsgate