"The third major release of the weekend was something of a miss. Lionsgate offered the poorly-reviewed Criminal, which stars Kevin Costner, Gary Oldman, Tommy Lee Jones, Gal Gadot, and Ryan Reynolds in the JFK reunion meets Wonder Woman + Deadpool action thriller you never knew you didn’t need. The violent old-school action movie, about a dead spy who gets his memories implanted into a brutal convict, earned $2.06 million on its first Friday for a likely $5.7 million weekend. The picture cost $31.5 million for BenderSpink, Campbell-Grobman Films, and Millennium Films."
"...heads are rolling at CMG while management at LGF get big perks and stock and options."
Yup. Paid them millions while the stock lost half its market cap, and it's going nowhere until they find and produce the next "Hunger Games" tent pole.
Sure thing bud. I was just telling myself how good LGF chart looks. :/ Now you want to see something real real funny. Pull up a comparison 1 year chart of LGF and CMG Chipolte. In the meantime heads are rolling at CMG while management at LGF get big perks and stock and options. I was here for the battle with Icahn and things got ugly and personal. In order to save their jobs and their cash cow LGF management gave this company over to a hedge fund in the middle of the night and it basically became a private Rachesky company. Only he just had to get controlling shares at like $6. Now 6 months ago they could have sold this company for over $40 to a larger player or even just bought stars at a big premium with the market cap we lost. Now LGF isnt even appealing as a takeover because of inversion laws. If this was any other company management would be gone just from the movie product they put out. What a joke. I could go on for hours on the poor way this company has been run. Thought they were the biggest studs cause the hit on HG but turned out to be the biggest duds.
Jungle Book? How many times did they remake that movie? Nothing like the original cartoon cast: Phil Harris, Louie Prima, George Sanders, Sabastian Cabot, Sterling Holloway. I guess this new movie is up to date and ready for this new generation with all this CGI.
John - summit is the distributor of this 31 million dollar budgeted bomb. They've been heavily advertising it on TV so the P&A costs will be probably the same at the production budget. The release dates of both this and Now You See Me 2 (same weekend as Warcraft and The Conjuring 2) are both questionable. The next earnings report will be brutal - unless SVOD in China actually starts providing revenue. It's hard to believe this management team went to first to worst in a 1 year time period. They were brilliant early on with digital marketing. Their early backing (Series A funding) of Atom Tickets may turn out to be very profitable. Now it seems they're distributing films that no one else will touch. Are they intentionally doing this or is there more here than meets the eye?
My guess is the same fool running the studio is running the stock buyback program and the pr department.
You got to try real hard to put out movies as bad as LGF does. Criminal at 0% on Rotten Tomatoes right now. I mean you take the hottest star out there in Ryan Reynolds then toss in 3 well respected academy award winners in Kevin Costner, Gary Oldman, and Tommy Lee Jones....... take a great concept for a movie..... and the best you can do is a 0% on RT while also releasing it the same day as Jungle Book 100%on RT and Barber Shop. LGF could have put those guys in a circle eating grilled cheese and tomato soup and scored better than 0%.
Yeah, we've seen this story before at Yahoo with the addition of Katie Couric. Ms. Couric did NOTHING to increase yahoo's value. Let's see if this addition will help this floundering company,
Lions Gate Entertainment Corp. (LGF) -NYSE Lions Gate Entertainment Corp. (LGF) -NYSE
21.13 Down 0.72
"The SGL-3 rating reflects Moody's expectations that Lionsgate will have adequate liquidity over the next 12-18 months. As of 12/31/2015, the company had $88 million of cash on its balance sheet and no amounts outstanding under its $800 million senior secured revolving credit facility. We expect Lionsgate will be reliant on its revolver to fund film development and marketing spending and will generate lower free cash flow than historical levels over the next twelve months due to recent weakness in film slate performance".
Shareholder value was for the most part is dependent on successful theatrical releases. They are increasing their other revenue streams -SVOD, TV etc but not enough as of right now to offset the lost revenue from the Twilight and HG franchises. With Malone on board we don't need an activist - MHR, Malone, Liberty, Discovery,and CBS are what we need and have.
Wow they just put a sell on LGF. Declining revs is the culprit. They're 20 dollars late. Yes we have more downside with Allegiant falling way short and the final installment will most likely be another dud. What Zacks fails to look at is the future. The partnerships with CBS, Baidu, Alibaba, Kevin Hart, will boost revs going forward. The big question is will they ever have another blockbuster. Since I have not sold any of my position, my feeling is they will have another blockbuster. Zacks also fails to mention the LGF Board of Directors and the positions Discovery, Liberty and John Malone have in the company. Hey John relax and don't let the near term travails cloud the long term vision.
This is sooooo sad. Its as if my dog was diagnosed with terminal cancer 5 months ago and now he is at the point I cant even get him to eat. :( Meantime my Vet on some beach and wont answer the phone.