May 30, 2018 11:15 AM EST
Lionsgate Acquires Majority Share in 3 Arts Entertainment
Lionsgate has made an acquisition of the majority of talent management and production company 3 Arts Entertainment. The terms of the deal haven't been announced but it is rumored that 50% of the company was bought for somewhere between $300 and $350 million.
Lionsgate Chief Executive Officer Jon Feltheimer said, "We're excited to be partnering with a best-in-class talent management company that shares our entrepreneurial culture and vision for the future. This deal checks all the boxes-a strategic and accretive transaction for our shareholders and a win/win partnership for both companies. It enables us to deepen our already successful relationship with 3 Arts and allows them to offer a richer palette of opportunities to their clients."
The 3 Arts Management Team also commented, saying, "We're thrilled to be partnering with one of the most dynamic and innovative entertainment companies in the business. Every day our clients are asking about the changing landscape, and this venture will create enormous opportunities to harness Lionsgate's areas of expertise to give clients a competitive edge."
3 Arts is no slouch with a television resume that includes "It's Always Sunny in Philadelphia," "Man With A Plan," "30 Rock," "King of the Hill," "The Office," "Parks and Recreation," "Marlon," "Brooklyn Nine Nine," "The Mindy Project," "Champions," "Master of None," "Unbreakable Kimmy Schmidt," "Insecure," "American Vandal" and "Silicon Valley." Its film resume includes "The Edge of Tomorrow," "Unbroken," "Constantine," "Devil's Advocate," "I Am Legend," "13 Hours," "Office Space" and "The Matrix."