Lionsgate Names James Barge CFO20 Sep, 2013 By: Erik Gruenwedel
Former Viacom CFO assumes position following retirement of James Keegan
Lionsgate Sept. 20 named James Barge CFO, replacing James Keegan, who is retiring after 25 years with the Santa Monica, Calif.-based mini-major. The transition takes effect Oct. 1
Barge served as CFO of Viacom from 2010 to 2012, and EVP, controller, tax and treasure before that. He previously held a similar position at Time Warner for 13 years.
During Keegan’s recent tenure, Lionsgate continued to de-lever its balance sheet, paying down a $500 million Summit Entertainment term loan more than two years early and refinancing most of its other debt. Lionsgate announced a new five-year, $800 million revolving credit facility with a JPMorgan-led syndicate of banks last year.
The studio reported its best financial results ever in the fiscal year ended March 31, due in large part to robust home entertainment and TV production revenue.
"Jim Keegan has provided 25 years of exemplary service to the Lionsgate family, and he will be missed," CEO Jon Feltheimer said in a statement. "When he decided to retire, we were fortunate that Jimmy Barge was already working with us on a number of financial initiatives and was available to hit the ground running as our new CFO. Jimmy has tremendous experience guiding the financial operations and strategies of leading major entertainment companies, and he will be a valuable and experienced addition to our management team."