New Agreement Is Closed on Eve of German Launch of Eagerly-Anticipated Box Office #1 Action Adventure Film Divergent
MUNICH and SANTA MONICA, Calif., April 3, 2014 /CNW/ - Lionsgate (NYSE: LGF), a leading global entertainment company, has announced that it has entered a new and expanded multiyear output agreement with Tele Munchen Group (TMG) covering the distribution of its Summit label films in Germany and Austria in all media, the two companies announced today. The expanded agreement was negotiated in Berlin and closed in anticipation of the release of Summit's eagerly-anticipated box office #1 action adventure film Divergent in Germany and Austria on April 10 and will include other promising tentpole titles such as The Last Witch Hunter, starring Vin Diesel, Gods of Egypt, director Alex Proyas' epic re-envisioning of mythical ancient Egypt, as well as the sequel to last year's global sleeper hit Now You See Me, which grossed more than $350 million at the worldwide box office.
"We're delighted to elevate our long-standing partnership with TMG to the next level and expand and fortify our relationship with a pipeline loaded with potential franchises and star-driven branded properties," said Lionsgate Motion Picture Group Co-Chairmen Patrick Wachsberger and Rob Friedman.
"Having been an early investor in Lionsgate when Jon Feltheimer and Michael Burns re-launched the company in 1999, I am pleased that our strong and longstanding relationships with both Summit and Lionsgate have now come full circle. We are excited to extend and expand our multifaceted relationship with the entire Lionsgate team," said TMG Chairman Herbert G. Kloiber. "Lionsgate has emerged as a powerful creative force in the global marketplace, and we look forward to a consistent supply of commercially attractive pictures that we expect to resonate with German-speaking moviegoers for years to come."
The extension follows six years of TMG-Summit output agreements which covered The Twilight Saga pictures and continues to expand Lionsgate's global distribution infrastructure comprised of output deals covering 80% of the world's movie-going population outside China and India, a thriving self-distribution operation in the U.K., the 50/50 IDC joint venture serving Latin America and Lionsgate's partnership in the Celestial Tiger platform serving China and Southeast Asia. Films from the Lionsgate label will continue to be distributed through Studio Canal in Germany.
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, new channel platforms and international distribution and sales. Lionsgate currently has 34 television shows on 22 networks spanning its primetime production, distribution and syndication businesses, including such critically-acclaimed hits as the multiple Emmy Award-winning Mad Men and Nurse Jackie, the comedy Anger Management, the network series Nashville, the syndication success The Wendy Williams Show and the critically-acclaimed series Orange is the New Black.
Its feature film business has been fueled by such recent successes as the blockbuster first two installments of The Hunger Games franchise, The Hunger Games and The Hunger Games: Catching Fire, the first installment of the Divergent franchise, Now You See Me, Kevin Hart: Let Me Explain, Warm Bodies, The Expendables 2, The Possession, Sinister, Roadside Attractions' Mud and Pantelion Films' breakout hit Instructions Not Included, the highest-grossing Spanish-language film ever released in the U.S.
Lionsgate's home entertainment business 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 15,000 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 and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world.
TMG is a fully integrated media company, which has been successfully operating in the market for more than 40 years. TMG is able to exploit all audio-visual rights through its own distribution channels. Its activities include the production and acquisition of feature films, TV productions and classical music programs, as well as their distribution in the theatrical, DVD/VOD, broadcasting and merchandising sectors. Besides, TMG is a shareholder in the nationwide free TV-stations Tele 5 and RTL II in Germany as well as ATV and ATV II in Austria and continues to strengthen its strategic market position through partnerships with other companies, such as the production company Odeon Film AG and the leading on demand specialist On Demand Deutschland.
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