SANTA MONICA, CA, and New York, NY, May 26, 2010 – Lionsgate (NYSE: LGF), the leading next generation studio, will license 139 of its most prestigious and successful theatrical titles to Rainbow Media, a leading innovator in television programming and entertainment, for airing on its AMC, IFC, Sundance Channel and WE tv networks, the two companies announced today. The announcement of one of the industry’s largest recent library sales and licensing deals was made by Lionsgate Television Group President Kevin Beggs and Rainbow Entertainment Service’s Chief Operating Officer Ed Carroll.
The deal was structured by Rand Stoll, Lionsgate Executive Vice President of Television, and George Lentz, Senior Vice President of Programming at Rainbow.
The sale showcases the breadth and depth of Lionsgate’s vast 12,000-title motion picture and television library and includes such venerated films as Academy Award(R)-winners Precious, Crash and Monster’s Ball, Academy Award(R)-nominees Away From Her, The Saw, Punisher, Ghost House and Horror Fest action and horror franchises, acclaimed documentaries such as this year’s Academy Award(R)-winning film The Cove from Roadside Attractions, last year’s critically-acclaimed Religulous and Crosby Stills Nash & Young’s concert sensation Deja vu. The films have been sold to Rainbow for airing in the second, third and deep catalog windows. Terms of the deal were not disclosed.
"This deal underscores the growing appetite for content worldwide and our continued commitment to monetize our enormous filmed entertainment library and extend the revenue afterlife of our theatrical films," said Kevin Beggs, President of Lionsgate’s Television Group. "The size and scope of this 139-title package illustrate the breadth and depth of our library, from some of the world’s most commercially successful genre titles to many of the most critically acclaimed prestige films of recent years. The fast-growing branded networks of the Rainbow family are the ideal cutting edge destination for these films, and the package’s diversity reflects both the depth of our library and the breadth of the Rainbow family of channels."
"We are thrilled to acquire this package of films from Lionsgate, because it is rare to find so many exciting, successful, quality films in a single place," said Ed Carroll, Chief Operating Office for Rainbow Media. "It is a testament to Lionsgate’s prolific and prestigious library that they assembled so many groundbreaking films under one roof. This deal highlights Rainbow’s continuing commitment to bring our viewers content that is original, provocative and acclaimed."
Lionsgate noted that its motion picture and television library achieved its fourth consecutive year of record revenues in the fiscal year ended March 31, 2010, generating $306 million in sales.
ABOUT LIONSGATE
Lionsgate (NYSE: LGF – News) is the leading next generation studio with a strong and diversified presence in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, video-on-demand and digitally delivered content. 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 nearly 20 shows on 10 different networks spanning its prime time production, distribution and syndication businesses, including such critically-acclaimed hits as "Mad Men," "Weeds" and "Nurse Jackie" along with new series such as "Blue Mountain State" and the syndication successes "Tyler Perry’s House of Payne," its spinoff "Meet The Browns" and "The Wendy Williams Show."
Its feature film business has generated such recent hits as TYLER PERRY’S WHY DID I GET MARRIED TOO?, the action film KICK ASS, which opened at #1 at the North American box office and the critically-acclaimed PRECIOUS, which has garnered nearly $50 million at the North American box office and won two Academy Awards®. The Company’s home entertainment business has grown to more than 7% market share and is an industry leader in box office-to-DVD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 12,000 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.
About Rainbow Media Holdings LLC
Rainbow Media Holdings LLC is a subsidiary of Cablevision Systems Corporation (NYSE: CVC). Rainbow Media owns and operates some of the world’s most popular and award-winning entertainment brands, including AMC, IFC, Sundance Channel, WE tv, Wedding Central and IFC Entertainment (IFC Center, IFC Festival Direct, IFC Films, IFC In Theaters and IFC Productions). Additional information about Rainbow Media’s multiplatform brands is available at www.rainbow-media.com.