Lionsgate Agrees to Receive Investment from S&P Media for Expansion
Dow Jones10-27 05:48
Lionsgate has entered into an agreement to receive a significant investment from SP Media to expand its 3 Arts Entertainment talent management company and other businesses.
Full financial terms of the deal were not disclosed. As part of the agreement, SP Media will also produce independent feature films that Lionsgate will distribute, Lionsgate said Monday.
The relationship will be managed through a joint venture majority owned and controlled by Lionsgate.
SP Media Group is run by Steven Paul, who has shepherded films such as the "Baby Geniuses" franchise and the Lionsgate-distributed "Rambo: Last Blood." Lionsgate, an independent film company, has distributed films such as "The Hunger Games" series and the "Twilight" saga.
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