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Lions Gate (NYSE:LGF) reported its quarterly earnings results late on Thursday, bringing in results that were largely below what Wall Street called for as both the company's profit and its revenue were weaker than projected, playing a role in LGF stock falling after hours.The Santa Monica, Calif.-based entertainment company said that for its fourth quarter of its fiscal 2019, it brought in sales of $913.7 million, which marked a decline from the same quarter a year ago. Wall Street said in its consensus estimate that it called for the business to bring in a profit of $947.7 million.Lions Gate added that its profit tallied up to 11 cents per share, which missed analysts' outlook of 22 cents per share. The company has also been in talks to sell its Starz channel to CBS, but it reportedly rejected an informal bid that tallied up to roughly $5 billion, according to people with knowledge of the matter.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe business was negatively impacted by a smaller film slate, as well as a drop in TV production revenue that led to lower sales and profit for the period. Additionally, theatrical releases from Lions Gate such as Cold Pursuit were unable to perform as well as expected.LGF stock is down about 3.8% after the bell on Thursday following the company's underwhelming quarterly earnings results that included sales that missed expectations and fell year-over-year. Shares had been falling roughly 0.3% during regular trading hours. More From InvestorPlace * 7 Safe Stocks to Buy for Anxious Investors * 7 Stocks to Buy for Over 20% Upside Potential * 6 Stocks to Buy for This Decade's Massive Megatrend Compare Brokers The post Lions Gate Earnings: LGF Stock Slides as Q4 Sales Fall appeared first on InvestorPlace.
The counter offer was made by the film studio behind the Hunger Games movies after CBS made an informal $5 billion bid for the cable network, the sources said. CBS's informal offer was made by Joseph Ianniello, the interim chief executive officer of CBS, about six weeks ago and Lions Gate Entertainment sought a higher valuation, the sources said. The approach underscores the scope of CBS's ambitions to compete more aggressively in a world in which it is squeezed by deep-pocketed tech companies on one side and rapidly consolidating peers on the other.
Lionsgate's President of Worldwide Television and Digital Distribution Jim Packer said: "When I watched Ramy for the first time, I knew this is a show that has the potential to break through because I couldn't stop watching. Lionsgate will showcase Ramy to international buyers as part of its LA Screenings presentation on May 19th.
SANTA MONICA, Calif., May 16, 2019 /PRNewswire/ -- Global content leader Lionsgate and Twisted Pictures will bring fans worldwide a new level of deviously treacherous traps, clever clues and suspense as they partner with award-winning actor, director, and stand up comedian Chris Rock to spin-off and expand the world surrounding the hit billion dollar Saw franchise, it was announced today by Joe Drake, Chairman of Lionsgate's Motion Picture Group. "When Chris Rock came to us and described in chilling detail his fantastic vision that reimagines and spins-off the world of the notorious Jigsaw Killer, we were all-in," said Drake. "Saw is one of the highest grossing horror franchises of all-time and it's one of Lionsgate's most successful film series.
LOS ANGELES, May 7, 2019 /PRNewswire/ -- Global content leaders BBC Studios in Los Angeles and Lionsgate (NYSE: LGF.A, LGF.B) today announced that they have appointed preeminent media executive Dan McDermott as head of the companies' television partnership. McDermott, a multifaceted executive with an extensive entertainment industry background in content creation, development and distribution, has managed a number of creative collaborations and network organizations. "I have always followed my curiosity and ambition - from the early days at Fox and DreamWorks to my years spent writing and producing content.
Twilight Live-to-Film Event Follows in Footsteps of Highly Successful La La Land and The Hunger Games International Concert Tours SANTA MONICA, Calif. , May 2, 2019 /PRNewswire/ -- Global content leader ...
SANTA MONICA, Calif. and VANCOUVER, British Columbia , April 17, 2019 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) today announced it will release its fourth quarter and full year ...
Two-Time Tony Award®-Winning Producer Jill Furman to Serve as Lead Producer SANTA MONICA, Calif. , April 9, 2019 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B), Tony Award® -winning ...
SANTA MONICA, Calif., March 5, 2019 /PRNewswire/ -- Lionsgate and Producer Scott Delman (President, Blue Spruce Productions) announced today that the beloved Lionsgate and ABC Studios television series "Nashville," a hit for six seasons on ABC, CMT and Hulu, is being adapted as a Broadway musical. Delman, a 10-time Tony Award® winner who will serve as lead producer, has acquired the live theatrical rights from Lionsgate and ABC Studios, which co-produced and distributed the television show. Additional information, including production dates and the complete creative team, will be announced shortly.
SANTA MONICA, Calif. and VANCOUVER, British Columbia , Jan. 8, 2019 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) today announced it will release its financial results for the third ...
SANTA MONICA, Calif., and VANCOUVER, British Columbia, Nov. 16, 2018 /PRNewswire/ -- Brian Goldsmith, a 15-year veteran of Lionsgate (NYSE: LGF.A, LGF.B) and its predecessor companies, has signed a new long-term agreement to continue as Chief Operating Officer (COO), the Company announced today. Goldsmith has played a major role in helping to transform Lionsgate from a small independent studio into a leading global content platform. As a member of Lionsgate's senior decision-making team and Executive Management Committee, he is responsible for a broad range of corporate management issues, M&A activities, strategic partnerships and investments, and initiatives designed to strengthen the Company's capital structure.
Starz Reports Record Growth in the Quarter Driven By Sequential Increase of 1.3 Million Domestic Subscribers Revenue is $901 Million ; Fully Diluted Loss Per Share is ($0.67) Adjusted Diluted EPS is $0.22 ...
SANTA MONICA, Calif. , and VANCOUVER, British Columbia , Oct. 10, 2018 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) today announced it will release its financial results for the ...
SANTA MONICA, Calif. and VANCOUVER, British Columbia , Aug. 24, 2018 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) has signed an overall television deal with Oscar ® and Emmy ® winner ...
SANTA MONICA, Calif. and COPENHAGEN, Denmark, Aug. 15, 2018 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) has entered a new multiyear output deal with longstanding partner Nordisk Film in Scandinavia, the two companies announced today. The longterm agreement encompasses a deep pipeline of upcoming titles from Lionsgate and its Summit Entertainment label including the recently released action comedy The Spy Who Dumped Me, the stylish thriller A Simple Favor, the Charlize Theron/Seth Rogen comedy Flarsky, and the star-driven event films The Kingkiller Chronicle: The Name of the Wind, John Wick: Chapter Three and Chaos Walking. "We're delighted to extend our longstanding relationship with our world-class distribution partner Nordisk Film as we continue to expand Lionsgate's global footprint," said Lionsgate Motion Picture Group President of International Helen Lee-Kim.
Before his first season with the Lakers even begins, LeBron James is going Hollywood, gaining influence in both business and politics.
SANTA MONICA, Calif., and VANCOUVER, British Columbia, Aug. 9, 2018 /PRNewswire/ -- Significantly expanding its footprint in the growing faith-based market, global content leader Lionsgate (NYSE: LGF.A, LGF.B) has signed a multi-platform film and television first-look deal with Andrew and Jon Erwin and producing partner Kevin Downes, the filmmaking team behind this year's box office hit I Can Only Imagine, which was released by Lionsgate and sister company Roadside Attractions. The announcement was made today by Lionsgate Motion Picture Group Chairman, Joe Drake, and Television Group Chairman, Kevin Beggs.
SANTA MONICA, Calif. and VANCOUVER, British Columbia , June 26, 2018 /PRNewswire/ -- On the heels of the third season renewal of Lionsgate's (NYSE: LGF.A, LGF.B) critically-acclaimed hit series Dear White ...