Lionsgate Licenses 139 Movies to Cablevision26 May, 2010 By: Erik Gruenwedel
Lionsgate May 26 said it licensed 139 catalog movies to Rainbow Media, a subsidiary of Cablevision, which operates IFC, Sundance, AMC and WE networks.
The films, which include Oscar winners Precious, Crash and Monster’s Ball; Oscar nominee Away From Her; the Saw, Punisher, Ghost House and Horror Fest action and horror franchises; documentaries such as this year's Oscar winner The Cove and Religulous; and Crosby Stills Nash & Young's concert Déjà Vu, have been sold to Rainbow for airing in the second, third and deep catalog windows.
Santa Monica, Calif.-based Lionsgate, under pressure from dissident shareholder Carl Icahn to cut costs and increase shareholder value, has aggressively sought to mine incremental revenue from its 13,000 title catalog across multiple platforms, including transactional video-on-demand (VOD), cable TV and kiosks.
Lionsgate recently disclosed that its motion picture and television library achieved its fourth consecutive year of record revenue in the fiscal year ended March 31, generating $323 million in sales.
The studio reports quarterly financial results June 1.