Lions Gate Entertainment - History

History

Lionsgate was originally known as IMI Computer Corp. on May 26, 1986 and later known as Beringer Gold Corp. Beringer Gold later was incorporated as Lions Gate Films under the Business Corporation Act in British Columbia and was founded on July 3, 1997 by Frank Giustra, a Canadian investment banker hoping to capitalize on the growing film industry in his home town. The company bought a number of small production facilities and distributors, including Montreal-based Cinépix Film Properties (renamed to Lions Gate Films), Trimark Pictures, Mandate Pictures and, most notably, Artisan Entertainment (which itself had formerly been LIVE Entertainment).

They sold off their Canadian distribution rights to Maple Pictures, founded and co-owned by two former Lionsgate executives, Brad Pelman and Laurie May. Recently, Lionsgate sold their subsidiary Maple Pictures to film distributor Alliance Films, which is based in Montreal, Quebec.

Its first major box office success was American Psycho in 2000, which began a trend of producing and distributing films too controversial for the major American studios. Other notable films included Affliction, Gods and Monsters, Dogma, Saw and the Michael Moore documentary Fahrenheit 9/11, which, until the release of The Hunger Games in 2012, became the studio's highest grossing film.

Lionsgate had played a significant role in the co-financing and co-partnership with Relativity Media on its films until 2010 when the latter company split from its deal with Lionsgate to form its own self-distribution unit.

On August 1, 2005, Lions Gate Entertainment acquired the entire library of Modern Entertainment, the U.S. film division of the Swedish television company Modern Times Group.

In 2006, Lionsgate acquired the American television production and syndication company Debmar-Mercury. This studio is recognized for its role in a number of daytime TV programs.

In 2007, Lionsgate bought a partial stake in independent film distribution company Roadside Attractions.

Lionsgate, along with MGM and Paramount Pictures/Viacom, is also a co-owner of Epix, a pay TV movie channel which debuted on October 30, 2009 on Verizon FiOS IPTV systems, that will rival HBO and Showtime. Lionsgate also stated they would be starting work in music albums.

The distribution of selected recent non-in-house films for pay-per-view and on-demand are under the supervision of NBCUniversal Television Distribution under Universal Pictures (Universal formerly held home video and television rights to many of the early Lionsgate films), while all others (particularly the in-house films) are distributed for both cable and broadcast television through Lionsgate's syndicated division.

Lionsgate's library of movies and TV shows can be seen on digital platform Hulu.

Lionsgate announced on January 13, 2012, that it had acquired Summit Entertainment, producers and distributors of the Twilight Saga films, for $412.5 million. The two companies have planned on merging since 2008. The Lionsgate film "The Hunger Games" grossed $68.3 million when it premiered at the U.S. box office on March 23, 2012. It was the best opening day ever for a non-sequel and the fifth highest of all time. Of that total, $19.7 million was earned via Thursday midnight screenings. In its first weekend, The Hunger Games grossed $152.5 million, making it Lionsgate's highest grossing film after just three days. On October 6, 2012, Lions Gate Entertainment announced that Brian Goldsmith became the co-COO of the company and joining co-COO Steve Beeks. On November 18, 2012, Lionsgate announced it has passed over the $1 billion mark for the first time with the success of The Hunger Games and The Twilight Saga: Breaking Dawn – Part 2