Co-Finance Pact Begins With WHAT TO EXPECT WHEN YOU'RE EXPECTING
SANTA MONICA, Calif., Nov. 10, 2011 /CNW/ -- LIONSGATE® (NYSE: LGF), a leading global entertainment company and Alcon Entertainment (THE BLIND SIDE, DOLPHIN TALE, THE SISTERHOOD OF THE TRAVELLING PANTS) have agreed to co-finance the Lionsgate feature WHAT TO EXPECT WHEN YOU'RE EXPECTING. The two companies will be equally sharing the production and marketing costs on the film. The announcement was made jointly by Lionsgate's Co-COO and Motion Picture Group President, Joe Drake, with Andrew Kosove and Broderick Johnson, the Co-Founders and Co-CEO's of Alcon Entertainment. WHAT TO EXPECT WHEN YOU'RE EXPECTING is scheduled for release on May 11, 2012.
The deal was negotiated for Lionsgate by Sean Kisker, EVP of Strategic Planning and Operations for Lionsgate's Motion Picture Group, and Wendy Jaffe, EVP Business & Legal Affairs for Acquisitions, and for Alcon by Scott Parish, the company's COO/CFO and Alcon's outside counsel Nigel Pearson and Michael Rosner of Loeb and Loeb.
WHAT TO EXPECT WHEN YOU'RE EXPECTING will be Alcon's first investment outside of Warner Bros., where Alcon has a long-standing distribution relationship that has resulted in multiple successful films. Alcon's participation as "passive financiers" of the project signifies the Company's strategy to generate additional film output, and as such Johnson and Kosove will not take producer credits
Lionsgate has historically worked with a wide range of producers and financiers with whom it partners on select releases. Alcon makes an outstanding addition to a family of partners that has included Lakeshore Entertainment, Relativity, Crest Animation, and others.
Said Drake of the partnership, "Andrew and Broderick have impeccable taste and they're astute businessmen- their interest in partnering with Lionsgate is immensely flattering from both a creative and a financial perspective." He continued, "This co-financing deal is ideal for both of us because it aligns our interests; there is a true sharing of risk capital including P&A on films that we both see great value in making. This deal provides a way for Lionsgate to pursue risk mitigation while allowing Alcon to have broader access to commercial content beyond the product they develop themselves."
Broderick Johnson and Andrew Kosove said jointly, "We are very excited to be investing in this terrific project. We have immense respect for the many business successes Lionsgate has had throughout their history and we have no doubt that WHAT TO EXPECT WHEN YOU'RE EXPECTING will continue that tradition."
About Alcon Entertainment
Alcon Entertainment co-founders and co-CEO's Andrew Kosove and Broderick Johnson founded the Company in 1997 with financial backing from Frederick W. Smith, the Founder, Chairman and Chief Executive Officer of FedEx. Alcon, which is named after a mythological archer and ally of Hercules, has financed, and/or co-financed/produced over 19 films, including "My Dog Skip," "Dude, Where's My Car?", "Insomnia," "Racing Stripes," the Academy Award nominated Best Picture "The Blind Side," which earned Sandra Bullock a Best Actress Oscar; "The Book of Eli," starring Denzel Washington and Gary Oldman; "Insomnia," starring Al Pacino, Robin Williams, and Hilary Swank and directed by Chris Nolan; "The Sisterhood of the Traveling Pants," and "P.S. I Love You," starring Hilary Swank, among many others.
The Company most recently released the box office hit family film, "Dolphin Tale," starring Morgan Freeman, Harry Connick Jr., Ashley Judd and Kris Kristofferson, on September 23, 2011. Alcon's next release "Joyful Noise," a music driven comedy starring Queen Latifah and Dolly Parton is slated for release January 13, 2012.
About WHAT TO EXPECT WHEN YOU'RE EXPECTING
Inspired by the perennial New York Times bestseller of the same name, WHAT TO EXPECT WHEN YOU'RE EXPECTING is a hilarious and heartfelt big screen comedy about five couples whose intertwined lives are turned upside down by the challenges of impending parenthood.
A kaleidoscopic comedy as universal as it is unpredictable, WHAT TO EXPECT WHEN YOU'RE EXPECTING finds humor and uplift in all the unexpected trials and triumphs of welcoming a child into the world. The film is directed by Kirk Jones (NANNY MCPHEE, WAKING NED DEVINE) and stars Cameron Diaz, Jennifer Lopez, Elizabeth Banks, Chace Crawford, Brooklyn Decker, Anna Kendrick, Matthew Morrison, Dennis Quaid, and Chris Rock.
Lionsgate is a leading global entertainment company with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution and new channel platforms. The Company has built a strong television presence in production of prime time cable and broadcast network series, distribution and syndication of programming through Debmar-Mercury and an array of channel assets. Lionsgate currently has 15 shows on more than 10 networks spanning its prime time production, distribution and syndication businesses, including such critically-acclaimed hits as "Mad Men", "Weeds" and "Nurse Jackie" along with the comedy "Blue Mountain State, " the critically-acclaimed drama "Boss" and the syndication successes "Tyler Perry's House Of Payne", its spinoff "Meet The Browns", the upcoming "For Better or Worse," "The Wendy Williams Show" and "Are We There Yet?".
Its feature film business has been fueled by such recent successes as THE LINCOLN LAWYER, TYLER PERRY'S MADEA'S BIG HAPPY FAMILY, THE EXPENDABLES, THE LAST EXORCISM, TYLER PERRY'S WHY DID I GET MARRIED TOO?, KICK ASS and the critically-acclaimed PRECIOUS, which won two Academy Awards®. The Company's home entertainment business has grown to more than 8% market share and is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 13,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate brand remains synonymous with original, daring, quality entertainment in markets around the world.
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Lionsgate - Film DivisionKate Hubin
Lionsgate - Corporate InquiriesPeter D.
For further information: Web Site: http://www.lionsgate.com