Alliance Will Explore Non-Traditional Film Distribution Strategies And Tap Clanagan's Feature Film, Television, Home Entertainment, Music And New Media Expertise
SANTA MONICA, Calif. and VANCOUVER, British Columbia, May 3, 2012 /CNW/ - In a move to further strengthen its leadership in the urban market on digital and traditional media platforms alike, Lionsgate (NYSE: LGF), a diversified global entertainment company, has formed a partnership with entrepreneur Jeff Clanagan, the founder of CodeBlack Enterprises, a driving force in motion pictures, television, home entertainment and digital media, the two partners announced today.
Clanagan has been an innovator and a leading creative force in the urban media space throughout his 20-year entertainment industry career, building No Limit Films into a leading multimedia company in the 1990's, creating and guiding Urban Works Entertainment from 2001-2005 and launching his highly successful CodeBlack Enterprises in 2005.
Clanagan's new company will be based at Lionsgate, and the partnership will draw upon Clanagan's diverse expertise in feature films, television programming, home entertainment, music, live events, including his highly successful standup comedy specials, and innovative shortform content for digital platforms. Clanagan's creative team will be headed by 20-year industry veteran Quincy Newell, who will serve as General Manager of the new alliance.
"Lionsgate has always been a home for entrepreneurs, and we're delighted to form a partnership with Jeff Clanagan, one of the true visionaries in urban media today," said Lionsgate Co-Chief Operating Officer and Motion Picture Group President Steve Beeks. "We look forward to exploring a wide range of nontraditional approaches to feature film production and distribution for the urban market, and we're excited about tapping into the innovative strategies and out of the box thinking that have characterized Jeff's enormously successful ventures to date."
"Jeff has been a driving force in bringing films, TV programming and home entertainment to the urban market, and he is closely associated with many of the iconic names in urban entertainment today," said Lionsgate Executive Vice President & General Manager Ron Schwartz. "His tremendous versatility will allow us to explore a broad spectrum of filmed entertainment opportunities."
"I'm thrilled to join forces with Lionsgate, the most entrepreneurial media company in the industry today," said Clanagan. "Lionsgate has already established a powerful brand and track record in the urban space, and I look forward to helping take its leadership to a new level of performance in digital as well as traditional media."
Clanagan's CodeBlack Enterprises launched a highly successful comedy special franchise featuring many of comedy's hottest acts, including Steve Harvey, Cedric The Entertainer, Kevin Hart and Mo'Nique. CodeBlack's theatrical releases included SHADOWBOXER, the directorial debut of Lee Daniels, who went on to direct Lionsgate's PRECIOUS, which won two Academy Awards, and the Kevin Hart standup comedy documentary, LAUGH AT MY PAIN, which underscored the success of Clanagan's alternative film distribution model. CodeBlack has generated more than $150 million in revenue from its DVD, on demand and digital releases.
Clanagan previously created and built Urban Works Entertainment into the leading distributor of urban home entertainment, acquiring and launching the "And 1 Mixtape" series, "The Cosby Show," "Fat Albert" and BET Television Movies on DVD and HBO's "Def Comedy Jam" series featuring leading comedians such as Bernie Mac, Martin Lawrence and Chris Tucker.
Clanagan launched his executive career in urban entertainment as President of rapper/entrepreneur Master P's No Limit Films, the pioneer of the urban home entertainment sell-through market. He also served as President of Peter Guber's Mandalay Urban Entertainment, where he produced the award-winning film CIVIL BRAND, distributed by Lionsgate. He also created and executive produced the syndicated television show LIVIN' LARGE, hosted by Carmen Elektra and Kadeem Hardison.
Lionsgate has established a leadership position in the urban market with 12 Tyler Perry films to date that have grossed more than $600 million at the North American box office, the multiple Academy Award-winning hit PRECIOUS, films as diverse as AKEELAH AND THE BEE, CIVIL BRAND and THE WASH and syndicated TV series including Tyler Perry's HOUSE OF PAYNE, its spinoff MEET THE BROWNS, FOR BETTER OR WORSE and ARE WE THERE YET? as well as THE WENDY WILLIAMS talk show.
The deal was negotiated for Lionsgate by Ryan Likes, Senior VP, Business & Legal Affairs, and Marc Danon, VP, Acquisitions & Business Development.
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. The Company has built a strong television presence in production of primetime cable and broadcast network series, distribution and syndication of programming and an array of channel assets. Lionsgate currently has 15 shows on more than 10 networks spanning its primetime production, distribution and syndication businesses, including such critically-acclaimed hits as the multiple Emmy Award-winning "Mad Men," "Weeds" and "Nurse Jackie," along with the powerful drama "Boss" and the syndication successes "Tyler Perry's House of Payne," its spinoff "Meet the Browns," "The Wendy Williams Show" and "Are We There Yet?"
Its feature film business has been fueled by such recent successes as the blockbuster first installment of "The Hunger Games" franchise, which has already grossed more than half a billion dollars at the worldwide box office, "The Expendables," "The Lincoln Lawyer," "Cabin In The Woods," "Tyler Perry's Madea's Big Happy Family" and "Margin Call." With the January 2012 acquisition of Summit Entertainment, the Company now has the two leading young adult franchises - the blockbuster "Twilight Saga," which has grossed more than $2.5 billion at the worldwide box office, and "The Hunger Games." Recent Summit hits include "Red," "Letters to Juliet," "Knowing," the "Step Up" franchise and the Academy Award-winning Best Picture, "The Hurt Locker."
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 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 and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world.
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