United States

Lions Gate Entertainment Corp (LGF.N)

LGF.N on New York Stock Exchange

26 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Lions Gate says acquired a stake in Primal Media
Wednesday, 13 Jul 2016 09:00am EDT 

Lions Gate Entertainment Corp : Lionsgate launches new uk television production shingle, primal media .Will distribute primal media's content worldwide and will produce formats owned by primal media for u.s. And worldwide market.  Full Article

S&P downgrades Starz LLC to 'BB-' from 'BB' on pending acquisition by Lions Gate
Friday, 1 Jul 2016 01:34pm EDT 

S&P:Starz LLC downgraded to 'BB-' from 'BB' on pending acquisition by Lions Gate; on creditwatch negative.  Full Article

S&P says Lions Gate Entertainment ratings remain on creditwatch negative
Friday, 1 Jul 2016 01:32pm EDT 

S&P: Lions Gate Entertainment Corp ratings remain on creditwatch negative on the company's pending acquisition of Starz LLC . Creditwatch placement reflects risk Lions Gate's credit measures might not improve to levels appropriate for 'BB-' rating and its announcement to acquire Starz LLC ."Although we expect incremental cost savings primarily from a tax standpoint, we believe acquisition will weaken Lions Gate's core financial measures".  Full Article

Moody's places lions gate's credit ratings on review for downgrade
Thursday, 30 Jun 2016 07:21pm EDT 

Moody's : Moody's places lions gate's credit ratings (ba3 cfr) on review for downgrade . Lionsgate's rating outlook was changed from negative to ratings under review for downgrade . Rating review is prompted by lionsgate's announcement today that it entered into definitive agreement to acquire starz for cash and stock Source : (http://bit.ly/298ZRc6) (Bengaluru Newsroom +91 80 6749-1130; within U.S. +1 646 223 8780).  Full Article

Lionsgate to acquire Starz for $4.4 bln in cash and stock
Thursday, 30 Jun 2016 08:00am EDT 

Starz : Starz says lionsgate expects acquisition to be highly accretive, generate significant synergies and create a whole that is greater than sum of its parts . Lionsgate to acquire Starz for $4.4 billion in cash and stock . Each share of lionsgate common stock will be reclassified into 0.5 voting and 0.5 newly created non-voting shares . Lionsgate intends to fund cash portion of deal with a combination of newly issued bank and bond financing . Holders of each share of starz series a common stock will receive $18.00 in cash as well as 0.6784 of a share of lionsgate non-voting stock . Starz says liontree advisors is serving as exclusive financial advisor and baker botts llp is serving as legal advisor to starz . Acquisition is expected to generate significant revenue and cost synergies . Starz says j.p. Morgan, bank of america merrill lynch, deutsche bank and credit suisse are serving as financial advisors to lionsgate .Holders of each share of co's series b stock to get $7.26 in cash, 0.6321 share of lionsgate voting stock, 0.6321 share of lionsgate non-voting stock.  Full Article

Lions Gate Entertainment says Youtube orders its dance drama series Step Up
Thursday, 23 Jun 2016 08:30pm EDT 

Lions Gate Entertainment Corp :Youtube orders lionsgate television's dance drama series step up, inspired by global movie phenomenon.  Full Article

Lionsgate Entertainment reports qtrly earnings per share of $0.07
Wednesday, 25 May 2016 04:00pm EDT 

Lionsgate Entertainment Corp : Lionsgate reports results for fiscal 2016 . Q4 adjusted earnings per share $0.27 . Q4 revenue $791.2 million versus I/B/E/S view $740.7 million . Company pays quarterly cash dividend of $0.09 per common share . Qtrly filmed entertainment backlog of approximately $1.5 billion versus. $1.3 billion Q-O-Q . qtrly earnings per share $0.07 .Q4 earnings per share view $-0.02, revenue view $738.7 million -- Thomson Reuters I/B/E/S.  Full Article

Lions Gate Entertainment Corp - Former Epix executive arrested for $8 million fraud at network - Reuters News
Wednesday, 27 Apr 2016 03:20am EDT 

Lions Gate Entertainment Corp:The former chief digital officer of the Epix cable television network was arrested on Tuesday on charges that he defrauded it of more than $8 million.Emil Rensing, 42, was arrested by the Federal Bureau of Investigation at his residence in Manhattan and charged in a criminal complaint with wire fraud and aggravated identity theft, authorities said.He was released on a $500,000 bond following a court hearing later in the day.His lawyer, Henry Mazurek, in a statement said Rensing disputed the allegations and "did not steal any money or identities from anyone."."He has provided valuable products and services to Epix, all of which the company enjoys and profits from today," Mazurek said.Epix, a joint venture between Viacom Inc, Lions Gate Entertainment Corp and Metro-Goldwyn-Mayer Inc, was not identified by name in the charging documents, but the company confirmed it was the alleged victim.In a statement, Epix said it is cooperating with the investigation.The complaint alleged that while working at Epix from April 2010 to August 2015, Rensing caused it to contract with vendor companies he owned to perform digital media services.Those services were largely never performed and while the contracts listed several of Rensing's former professional associates and business partners as vendor personnel, they had never heard of the vendors, the complaint said.  Full Article

Lions Gate Entertainment Corp announces quarterly cash dividend of $0.09 per common share
Monday, 14 Dec 2015 04:00pm EST 

Lions Gate Entertainment Corp:Board of Directors has declared another quarterly cash dividend of nine cents per common share.Dividend is payable on February 5, 2016 to shareholders of record as of December 31.  Full Article

Lions Gate Entertainment Corp announces contract extention
Thursday, 19 Nov 2015 04:00pm EST 

Lions Gate Entertainment Corp:Lionsgate extends contracts of two executives, co-chief operating officer brian goldsmith and chief strategic officer and general counsel Wayne levin.  Full Article

New York entrepreneur Amanat indicted for fraud scheme

NEW YORK A self-described New York entrepreneur was arrested on Wednesday on charges that he conspired to hide the losses suffered by a hedge fund's clients in a scheme that involved bankrupt video technology company Kit Digital Inc.