Lions Gate and Skydance Productions team up for global TV distribution
9:15 AM ET 10/5/15 | MarketWatch
Lions Gate Entertainment Corp. (LGF) and Skydance Productions, the company behind "Mission: Impossible--Rogue Nation" and Netflix Inc.'s (NFLX) "Grace and Frankie," have formed a new global TV distribution pact. The newly formed Skydance International will feature Skydance existing and emerging TV content around the world, following its initial U.S broadcast, and will augment the worldwide distribution of Lions Gate's content, according to a news release. Lions Gate distributes nearly 2,000 hours of TV programming around the world per year. The new pact will hopefully give the two more opportunities to tap into across the global TV marketplace. Skydance founder and Chief Executive David Ellison said teaming up with Lions Gate should strongly position Skydance as it makes its foray into the international TV market. Lions Gate said it's looking forward to traditional and disruptive global distribution opportunities, and plans to focus on innovative deals reflecting today's changing TV ecosystem. Skydance also announced Brandon Zimon as senior vice president of international TV sales and co-productions. Zimon previously worked at Sony Pictures TV (6758.TO) as vice president of international distribution. Lions Gate shares are up 20% in the year to date, outperforming the S&P, which is down more than 5%.
-Trey Williams; 415-439-6400; AskNewswires@dowjones.com
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October 05, 2015 09:15 ET (13:15 GMT)
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