LIONSGATE RELOCATES INTERNATIONAL SALES OPERATIONS TO LONDON Move Reflects Globalization of the Company's Business and Positions Lionsgate Closer to Key International Markets
SANTA MONICA, Calif., and LONDON, Aug. 8, 2014 /PRNewswire/ -- In a move reflecting the increasing globalization of its business, Lionsgate (NYSE: LGF), a premier next generation global content leader, has relocated its international sales operations to London, England, the Company announced today.
As part of the move, the Company has already relocated several key international executives, including Motion Picture Group Executive Vice Presidents of International Sales Wendy Reeds and Crystal Bourbeau, and is in the process of hiring several additional executives for the London office as well. Lionsgate's international sales headquarters will be based at the Company's Lionsgate UK offices.
Hailing the move, British Chancellor of the Exchequer George Osborne said, "I am delighted that Lionsgate will establish its international sales headquarters in the UK. This is testament that Britain is open for business. As Chancellor I have been determined that we back UK's brilliant creative industries which is why we have invested in skills and training as well as providing tax relief for films, high-end TV, animation, video games and regional theatre."
"The relocation of our international sales headquarters accelerates our evolution into a truly global organization and brings us closer to our overseas markets," said Lionsgate Chief Executive Officer Jon Feltheimer. "The UK government has been an extremely supportive partner in facilitating a move that positions us to capitalize even more fully on tremendous growth opportunities in the global marketplace."
Lionsgate reported record international revenues last year, and the Company has recently announced expanded output agreements with Studiocanal and Tele Munchen Group in Germany, Roadshow Pictures in Australia, Nordisk Film in Scandinavia and Belga Films in Benelux as well as a new output arrangement with Leone Film Group in Italy. Lionsgate also recently announced an innovative content partnership with The Alibaba Group in China.
The growth of the international marketplace has also been reflected in Lionsgate's operations in the UK, where Lionsgate UK has achieved two straight banner years of revenue and profitability.
Lionsgate is a premier next generation global content leader 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 currently has over 30 television shows on more than 20 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 hit 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' 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.
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Peter D. Wilkes