LGF
Lions Gate Entertainment Corp.NYSE
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  • Tue, Nov. 29, 8:55 AM
    • Lions Gate (NYSE:LGF) say it will make additional disclosures about its merger with Starz (NASDAQ:STRZA) as part of a lawsuit settlement.
    • Some of the supplemental information centers on the role of current Starz CEO Christopher Albrecht.
    • "If the merger is completed, Starz’s current Chief Executive Officer, Christopher P. Albrecht, will continue to lead Starz networks as President and CEO, reporting to Lions Gate CEO Jon Feltheimer, and will join the Lions Gate Executive Management Committee. There are currently no other anticipated changes to the direct reports to Lions Gate CEO John Feltheimer."
    • Starz closed at $33.68 yesterday vs. the deal price of $32.73.
    • SEC Form 8-K
    | Tue, Nov. 29, 8:55 AM | 1 Comment
  • Wed, Nov. 16, 2:46 PM
    • Lionsgate (LGF -1.5%) has set two distribution deals for German-speaking markets, including Austria and Switzerland as well as Germany.
    • Studiocanal (OTCPK:VIVHY -0.9%), the distributor of Lionsgate films in Germany, has expanded its deal to cover films on the Summit Entertainment label, starting with Robin Hood: Origins.
    • Meanwhile, German distributor Tele München Gruppe will distribute three upcoming films: Horse Soldiers, Kin, and Down a Dark Hall.
    • "The slate of films we have this year for the international market is one of our best ever and our long-standing relationship with Tele München continues with three wonderful movies from exciting and incredibly talented filmmakers," Lionsgate says.
    | Wed, Nov. 16, 2:46 PM
  • Wed, Nov. 9, 10:25 AM
    • Time Warner (TWX -1.6%) is lower the morning after America elected Donald Trump its next president -- the man who called deals like AT&T's (T +0.5%) $85B buyout pact "poison."
    • "Deals like this destroy democracy," Trump said at a recent rally speaking about the buyout. He said a Trump administration would never sign off on the acquisition since AT&T and CNN together would be "too much concentration of power in the hands of too few."
    • That likely includes ripple effects on what has been a fairly rapidly consolidating media sector. Lions Gate (LGF -0.6%) and Starz (STRZA -0.4%) are set to combine and a number of other deals are in the speculative stages as telecoms and content creators adjust to a shifting landscape.
    • AT&T looks forward to working with Trump and says it's still optimistic about the Time Warner deal, according to CFO John Stephens.
    | Wed, Nov. 9, 10:25 AM | 20 Comments
  • Mon, Nov. 7, 7:34 PM
    • Doctor Strange (DIS +2.1%) lit up a sleepy fall box office, drawing a Marvel-esque $85M to finish No. 1 against a surprisingly strong debut from animated film Trolls (FOX +1.9%, FOXA +1.7%).
    • Disney's film, starring Benedict Cumberbatch as the title character, had already played strong in its overseas opening, and has now added $240.7M foreign box office to make a worldwide total of $325.8M.
    • Its strength also has pushed Walt Disney Studios past the $6B global box-office mark for the first time.
    • Trolls -- distributed by Fox and made by DreamWorks Animation (CMCSA +1.4%) -- grossed $46.6M domestically along with a worldwide total of $151.4M.
    • A third debut, Mel Gibson's war drama Hacksaw Ridge (LGF +7.6%), drew $15.2M after rolling out in about three-fourths as many theaters as Doctor Strange and Trolls, slotting it at No. 3 ahead of Boo! A Madea Halloween (also LGF, and grossing $7.7M).
    | Mon, Nov. 7, 7:34 PM | 13 Comments
  • Fri, Nov. 4, 1:14 PM
    • Cable network Epix has re-upped Mark Greenberg as its president and CEO with a new agreement.
    • Epix -- a joint venture between Viacom (VIA +0.5%, VIAB +0.6%), Lions Gate (LGF +12.7%) and Metro-Goldwyn-Mayer -- has been the fastest growing premium entertainment service for the past five years, SNL Kagan says.
    • The network has been a pioneer about cross-platform launches, becoming the first to be available on Xbox, PlayStation and Roku.
    • Greenberg has been at the helm of the network for seven years.
    | Fri, Nov. 4, 1:14 PM
  • Fri, Nov. 4, 7:30 AM
    • RBC analyst Steven Cahall raises Lions Gate (NYSE:LGF) to Outperform from Sector Perform.
    • PT to $31 from $24. Implied upside 63%.
    • Says significant cash synergies of Starz transaction are not priced in to the stock.
    • LGF fell 3.9% yesterday, but gained 7.8% AH on strong FQ2 earnings.
    | Fri, Nov. 4, 7:30 AM
  • Thu, Nov. 3, 5:20 PM
    • Lions Gate Entertainment (LGF -3.9%) beat expectations with fiscal Q2 results that the company figures are its last before a merger with Starz (NASDAQ:STRZA).
    • The company posted a net loss of $17.5M (narrower than the year prior), adjusted to a net income of $16.9M. Revenue grew 34% with strong results in both core segments.
    • Adjusted EBITDA swung from a loss to a positive $2.6M, missing an expected $5.6M.
    • Revenue by segment: Motion Pictures, $464.4M (up 31.2%); Television Production, $175.1M (up 43%).
    • In motion pictures, a bigger release slate meant theatrical revenue more than doubled, to $62M, while TV revenues from that segment were up 16% to $69.3M.
    • Home entertainment revenue from motion picture and TV production increased 5% to $160.7M. Filmed entertainment backlog (revenue contracted but not yet recorded) hung at $1.5B.
    • Segment profit: Motion Pictures, $6.6M (vs. a year-ago loss of $390K); Television Production, $12.1M (up 140%).
    • Press Release
    | Thu, Nov. 3, 5:20 PM | 1 Comment
  • Thu, Nov. 3, 4:07 PM
    • Lions Gate Entertainment (NYSE:LGF): FQ2 EPS of $0.11 may not be comparable to consensus of -$0.24.
    • Revenue of $639.53M (+34.1% Y/Y) beats by $85.94M.
    • Press Release
    | Thu, Nov. 3, 4:07 PM | 1 Comment
  • Wed, Nov. 2, 5:35 PM
  • Mon, Oct. 31, 3:42 PM
    • Lions Gate (NYSE:LGF) is up 1.5% today with its Halloween film sitting atop the box office for the second week -- and with Morgan Stanley launching coverage at Overweight.
    • Analyst Ryan Fiftal set a $25 price target, implying 23% upside from today's higher price. He believes this year's pullback in the shares (they're down more than 20% since early February and nearly 50% over the past 12 months) sets up well for valuation.
    • Meanwhile: "“Post merger, the investment thesis revolves primarily around Starz (NASDAQ:STRZA), which is showing top-line strength from new, higher-margin digital distribution platforms (e.g., Amazon.com)," he notes.
    • The Starz deal and synergies should drive nearly 20% compound annual growth in EBITDA over the next three years, he says. The shift to skinny bundling should help as well, as he points out that Starz' over-the-top product is already gettting close to 1M subs at accretive economics.
    | Mon, Oct. 31, 3:42 PM | 2 Comments
  • Mon, Oct. 31, 3:26 PM
    • Tyler Perry continued to rack up scary sums as Boo! A Madea Halloween (LGF +1.6%) held the weekend's box-office crown against a disappointing home debut in Tom Hanks' Dan Brown film series.
    • Inferno (SNE -0.8%), the follow-up to 2006's The Da Vinci Code and 2009's Angels & Demons, drew just $15M to finish No. 2 against Madea's $16.7M. That's well off the $77M The Da Vinci Code opened with domestically, but Inferno has already drawn $132.7M from international openings.
    • Similarly, Doctor Strange -- the latest entry in the Marvel (DIS -1.2%) Cinematic Universe -- won't open in the U.S. until Friday, but drew $86M in overseas openings.
    • Rounding out the top five films: Jack Reacher: Never Go Back (VIA flat, VIAB -0.3%) was No. 3 with $9.6M; The Accountant (TWX +1.2%) No. 4 with $8.48M; and Ouija: Origin of Evil (NASDAQ:CMCSA) fifth with $7.1M.
    | Mon, Oct. 31, 3:26 PM | 5 Comments
  • Fri, Oct. 28, 4:25 PM
    • In an SEC filing, Starz (STRZA +0.7%) notes that in connection with its deal to merge with Lions Gate (LGF +1.2%), its chief financial officer is resigning as of May 1.
    • Scott Macdonald will leave his role then but will work in the meantime on the transition of the company's Finance and Accounting group.
    • In a letter to Starz employees, CEO Christopher Albrecht took the chance to update workers on the post-merger structure and leadership, saying he'll continue to lead Starz Networks as president and CEO, and report to Lions Gate CEO Jon Feltheimer.
    • Reporting to Albrecht will be COO Jeffrey Hirsch (who will have Chief Marketing Officer Alison Hoffman reporting to him), along with Chief Legal Officer David Weil, President of Programming Carmi Zlotnik, Executive VP of Finance Bill Bergmann, Executive VP of Communications Theano Apostolou and Executive VP of Human Resources Pamela Wolfe.
    • Starz Distribution's home entertainment business will be subsumed into Lions Gate's Worldwide Home Entertainment, and Starz Worldwide's TV distribution group will be similarly combined.
    • Previously: Stifel upgrades Starz to Buy; AT&T/TWX deal boosts valuation prospects (Oct. 28 2016)
    • Previously: Starz sees networks gain, but program costs eat into profit (Oct. 27 2016)
    | Fri, Oct. 28, 4:25 PM
  • Mon, Oct. 24, 7:24 PM
    • Scary Tyler Perry outlasted Ouija-board horror at the box office as Halloween nears, as Boo! A Madea Halloween (NYSE:LGF) topped the chart with $28.5M in grosses.
    • That was better than Tom Cruise in Jack Reacher: Never Go Back (VIA, VIAB) which drew a still solid $22.9M despite appearing in 67% more theaters than the Perry film.
    • Jack Reacher did better in foreign markets, adding $31M outside the U.S., while Perry's film only logged domestic grosses.
    • Meanwhile, a third debut, Ouija: Origin of Evil (NASDAQ:CMCSA), held down the No. 3 spot with $14.1M, just ahead of last week's leader, The Accountant (NYSE:TWX) with $13.6M.
    • The weekend overall was the biggest at the box office in a few months.
    • In milestones: Sully (TWX) crossed $120M in its seventh week, adding $1.49M.
    | Mon, Oct. 24, 7:24 PM | 2 Comments
  • Sun, Oct. 23, 10:24 AM
    • Discovery Communications (NASDAQ:DISCA), Scripps Networks (NYSE:SNI), AMC Networks (NASDAQ:AMCX), Lions Gate (NYSE:LGF), Viacom (VIA, VIAB), and CBS already had their tails in the air on Friday afternoon as merger talk between  AT&T and Time Warner heated up.
    • Previously: AT&T seals $85.4B deal for Time Warner (Oct. 23)
    | Sun, Oct. 23, 10:24 AM | 14 Comments
  • Fri, Oct. 21, 12:02 PM
    • Time Warner (TWX +12.4%) is still climbing and cruising to 15-year highs after the WSJ report that it's in advanced talks to be taken over by AT&T (T -3.9%), which is now at its lowest point since February.
    • The deal -- which would create a media/telecom giant that would reshape the industry -- would be likely cash and stock, though talks are fluid and might not end in a deal.
    • The mix of the deal is likely crucial to its outcome, with Time Warner (not to be confused with Time Warner Cable, now part of Charter Communications) now worth more than $75B -- and a year after AT&T ponied up nearly $49B to take over DirecTV.
    • Other potential acquisition targets in media (is anything off the table in a rapidly consolidating sector?) are on the move: DISCA +6.4%, SNI +5.6%, AMCX +4.3%. Lions Gate (NYSE:LGF) made its own move up, +2.4%.
    • Engaged in talks about their own re-merger, Viacom (VIA +2.8%, VIAB +4.1%) is up, as is erstwhile and possibly future partner CBS (CBS +2.7%).
    | Fri, Oct. 21, 12:02 PM | 10 Comments
  • Tue, Oct. 18, 9:58 AM
    • CBS, Lions Gate (NYSE:LGF) and King Digital (NASDAQ:ATVI) are coming together in some good old candy-crushing synergy. The three have committed to an order for a TV series based on the hit mobile game Candy Crush Saga.
    • The show -- an hourlong live-game format that will pit teams of two against giant game boards -- will also feature a play-along option for home viewers. It doesn't have a set debut date.
    • Candy Crush Saga and its companion game Candy Crush Soda Saga generated an average of 18B game rounds last month, CBS says.
    • In early action: CBS +0.4%; LGF +0.6%; ATVI +1.7%.
    | Tue, Oct. 18, 9:58 AM | 4 Comments