Lions Gate Entertainment Corp. : LIONSGATE AND NORDISK FILM CONCLUDE LONG-TERM OUTPUT DEAL
05/18/2012| 10:30am US/Eastern
CANNES, France and SANTA MONICA, Calif., May 18, 2012 /PRNewswire/ -- Following on the heels of Lionsgate's (NYSE: LGF) recent acquisition of Summit Entertainment, Lionsgate and Nordisk Film have concluded a new multiyear output agreement in which feature films from both Lionsgate and Summit will be distributed by Nordisk in Scandinavia. The agreement extends Nordisk's existing output arrangement with Summit to encompass the entire Lionsgate family of feature films and was announced today at the Cannes Film Festival by Lionsgate Motion Picture Group Co-Chairs Patrick Wachsberger and Rob Friedman and Peter Philipsen, General Manager of independent Films at Nordisk Film.
"We are proud to extend Summit's longstanding relationship with the team at Nordisk Film to include both the Lionsgate and Summit brands in Scandinavia, a natural evolution of our historic partnership that promises significant benefits for both partners," said Wachsberger and Friedman. "The recent merger of Lionsgate and Summit allows us to bring a dramatically expanded portfolio of product to our distribution partners around the world and enables us to achieve significant economies of scale and an even higher level of consistency and predictability in our global business."
"We're delighted to extend and expand our productive relationship with Patrick, Rob and the entire Lionsgate team," said Philipsen. "The new agreement provides us with a stable and assured pipeline of some of the most commercially exciting films in the world from a studio that is emerging as a major force in the global marketplace. Our history with Summit has been very rewarding, and we look forward to an exciting future in partnership with the entire Lionsgate family."
The upcoming Lionsgate Summit combined slate includes such releases as Lionsgate's CATCHING FIRE, the next installment in THE HUNGER GAMES global blockbuster franchise, Sam Raimi's THE POSSESSION, THE LAST STAND, starring Arnold Schwarzenegger, and the new DIRTY DANCING film as well as Summit's THE TWILIGHT SAGA: BREAKING DAWN Part 2, the fifth installment in a franchise that has already grossed more than $2.5 billion worldwide, STEP UP REVOLUTION, THE IMPOSSIBLE, RED 2, NOW YOU SEE ME and THE TOMB, pairing Arnold Schwarzenegger and Sylvester Stallone.
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 16 shows on 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 new network series "Nashville" and "Next Caller" as well as the syndication successes "Tyler Perry's House of Payne", its spinoff "Meet the Browns," "The Wendy Williams Show" "Are We There Yet?" and the upcoming "Anger Management."
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 $630 million at the worldwide box office, "The Expendables," "The Lincoln Lawyer," "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.
Nordisk Film was founded in 1906 and is one of the oldest still operating film companies in the world.
Nordisk Film is part of the Egmont Group and the leading Nordic developer, producer and distributor of creative content in films and games.
In addition to the output deal with Lionsgate, Nordisk Film has output deals with Relativity Media and Lava Bear. Nordisk Film works closely together with several of the leading production companies in the Nordic region, either as distributor/co-producer or co-owner.
In recent years Nordisk Film has launched local blockbusters like the Millennium Trilogy, Easy Money, The Headhunters and A Royal Affair. Nordisk Film produces or co-produces more than 15 films annually.
Nordisk Film and Zentropa own the international sales arm TrustNordisk, handling sales on Thomas Vinterberg's The Hunt, which is in this year's Main Competition in the Cannes Film Festival.
Nordisk Film owns the number one cinema chain in Denmark and holds the Nordic distribution rights to Sony PlayStation. Nordisk Film also supplies production and post-production facilities to a number of Nordic film companies. In 2011, Nordisk Film generated a total revenue of EUR 334 million. The company has 1.000 employees in Denmark, Sweden, Norway, and Finland.
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Peter D. Wilkes