UPDATE 2-Lions Gate says Epix talks on track
* Lions Gate says Epix distribution talks on track
* Affirms forecast adjusted EBITDA to top $75 mln
* Shares down more than 4 percent (Adds stock price, analyst quote, byline)
By Sue Zeidler
LOS ANGELES, Nov 10 (Reuters) - Lions Gate Entertainment Corp (LGF.N) said on Tuesday it expects more distribution deals soon for its Epix movie channel venture, and the independent studio also affirmed its earnings forecast for this year, disappointing some who had expected it would be raised.
Shares of Lions Gate, which on Monday posted a better-than-expected second-quarter profit, fell 22 cents, or 4.07 percent, to $5.19 on the New York Stock Exchange.
"Lions Gate beat on all the (second-quarter) metrics. If anything, investors may disappointed they didn't raise the guidance," said David Joyce, an analyst with Miller Tabak & Co.
On a conference call on Tuesday, Lions Gate officials affirmed the company's forecast for this year's adjusted earnings before interest, taxes, depreciation and amortization to be in excess of $75 million.
Lions Gate officials also answered questions about Epix, which it co-owns with Viacom Inc's (VIAb.N) Paramount and Metro-Goldwyn-Mayer.
The new channel launched Oct. 30 with just one distribution partner, Verizon Communications Inc's (VZ.N) FiOS TV service, making it available to some 2.5 million households.
Lions Gate told analysts on the call it believes that talks are "pointing" toward further distribution deals for the beginning of the year, potentially as early as January.
Lions Gate late on Monday said it swung to a second-quarter profit on gains at its television operations and lower film production costs, far outstripping Wall Street forecasts.
TV production revenue rose 30 percent to $88.9 million on gains in domestic series licensing for "Weeds," "Mad Men," "Crash," "Tyler Perry's House of Payne," "Meet the Browns" and "The Wendy Williams Show," and on higher international and DVD sales for the series.
New revenue from its recently aquired TV Guide Network helped Lions Gate in its latest quarter.
Company officials said they expected the channel to remain profitable as it continues to increase programming. (Editing by Maureen Bavdek)
