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Concept
Lionsgate
Summary
Lions Gate Entertainment Corporation, doing business as Lionsgate, is a Canadian-American global mass media and entertainment company. It was formed by Frank Giustra on July 10, 1997, domiciled in Vancouver, British Columbia, Canada, and is currently headquartered in Santa Monica, California, United States. In addition to its flagship Lionsgate Films division, the company contains other divisions such as Lionsgate Television and Lionsgate Interactive. It owns a variety of subsidiaries such as Summit Entertainment, Debmar-Mercury, and Starz Inc.
Lionsgate was formed in 1997 by Frank Giustra with a 40 million from other investors which included Keyur Patel and Yorkton Securities' executives such as G. Scott Paterson. Giustra had recently retired as CEO from Yorkton, an investment bank, and Paterson was then president. Giustra then merged Lionsgate with Toronto Stock Exchange listed Beringer Gold Corp. (founded in 1986) to take the company public. Beringer's mining assets were soon sold off.
Lionsgate then began a series of acquisitions to get into the film industry. The company bought a number of small production facilities and distributors, starting with Montreal-based Cinépix Film Properties (renamed as Lions Gate Films) and North Shore Studios (renamed Lions Gate Studios) in Vancouver, British Columbia. Mandalay Television was acquired by Lionsgate from Peter Guber for a 4% Lionsgate stake. In 1998, Lionsgate helped Guber form Mandalay Pictures with a 45% investment in Mandalay. Lionsgate followed that up with a June purchase of International Movie Group, Inc. (IMG), a bankrupt film distributor previously invested in by Guber and Yorktown Securities, for its film library. IMG's CEO Peter Strauss became President of Lions Gate Entertainment, Inc. (LGE), the American parent company for Lionsgate's U.S. interests. The Lions Gate Media subsidiary was also formed to produce for television.
Completing its first year of operation, Lionsgate had a revenue of $42.
Official source
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