SANTA MONICA, Calif., Sept. 24, 2012 /PRNewswire/ -- Following its January 2012 acquisition of Summit Entertainment, Lionsgate (NYSE: LGF), a leading global entertainment company, announced today that it has expanded its partnership with IDC, a joint venture between Summit and NuVision founder Pedro Rodriguez, to encompass distribution of Lionsgate titles in Latin America as well. IDC has been distributing Summit titles in Latin America since 2005.
"As we continue to build our distribution network around the world, we're customizing different approaches to the different territories in which we operate," said Lionsgate Motion Picture Group Co-Chairs Patrick Wachsberger and Rob Friedman. "In Latin America we are building upon Summit's longstanding venture with Pedro Rodriguez and his team at IDC, who have unparalleled expertise in the region. IDC's results for our Summit titles in the past have been outstanding and the quality of its distribution first class. By adding our own Lionsgate films and expanding our partnership with IDC, we believe that we can replicate the success we have achieved through self-distribution in the United Kingdom."
"I have worked closely with Patrick, Rob and the rest of their team on the TWILIGHT franchise and other Summit films and we're thrilled to expand our venture to encompass Lionsgate product as well," said Rodriguez. "Lionsgate has emerged as a major force in the global marketplace, and we're pleased to have a pipeline of some of the most commercially exciting films in the world to bring to our audiences throughout Latin America."
Under terms of the new agreement, Lionsgate International Television will handle the sale of television, SVOD, VOD and EST rights to Lionsgate, Summit and third-party product throughout Latin America.
The deal was orchestrated by Lionsgate Executive Vice President of Corporate Development Brian Goldsmith, Executive Vice President International Contracts & Legal Affairs Maitreya Yasuda and Senior Vice President Business & Legal Affairs Ryan Likes.
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 23 shows on 16 networks spanning its primetime production, distribution and syndication businesses, including the multiple Emmy Award-winning Mad Men, the critically acclaimed series Weeds, Nurse Jackie and Boss, the new comedy Anger Management, which has been picked up for another 90 episodes by FX, the upcoming network series Nashville and Next Caller, the syndication successes Tyler Perry's House of Payne, its spinoff Meet the Browns, For Better Or Worse, The Wendy Williams Show, Are We There Yet? and the upcoming Orange Is The New Black, an original series for Netflix.
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 nearly $700 million at the worldwide box office, The Possession, The Expendables 2, The Cabin in the Woods, Tyler Perry's Madea's Witness Protection and Margin Call. With the January 2012 acquisition of Summit Entertainment, the Company has now added the blockbuster Twilight Saga, which has grossed more than $2.5 billion at the worldwide box office, to its current slate, giving the Company the two premier young adult franchises in the world. Recent Summit hits include Red, Letters to Juliet, Knowing 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 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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