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![]() The company share price dropped to a low of $1.40. ![]() Ĭompleting its first year of operation, Lionsgate had a revenue of $42.2 million with a loss of $397,000. The Lions Gate Media subsidiary was also formed to produce for television. (LGE), the American parent company for Lionsgate's U.S. ![]() IMG's CEO Peter Strauss became President of Lions Gate Entertainment, Inc. (IMG), a bankrupt film distributor previously invested in by Guber and Yorktown Securities, for its film library. Lionsgate followed that up with a June purchase of International Movie Group, Inc. In 1998, Lionsgate helped Guber form Mandalay Pictures with a 45% investment in Mandalay. Mandalay Television was acquired by Lionsgate from Peter Guber for a 4% Lionsgate stake. 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. Lionsgate then began a series of acquisitions to get into the film industry. Beringer's mining assets were soon sold off. (founded in 1986) to take the company public. Giustra then merged Lionsgate with Toronto Stock Exchange-listed Beringer Gold Corp. Giustra had recently retired as CEO from Yorkton, an investment bank, and Paterson was then president. Lionsgate was formed in 1997 by Frank Giustra, whose $16 million investment was augmented by $40 million from investors including Keyur Patel and Yorkton Securities' executives such as G. It owns a variety of subsidiaries such as Summit Entertainment, Entertainment One, Debmar-Mercury, and Starz Inc. In addition to its flagship Lionsgate Films division, its other divisions include Lionsgate Television and Lionsgate Interactive. Originally a Canadian company, it was formed by Frank Giustra on July 10, 1997, domiciled in Vancouver, British Columbia, and is currently headquartered in Santa Monica, California. Lions Gate Entertainment Corporation, doing business as Lionsgate, is a Canadian-American global mass media and entertainment company.
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