Lions Gate, Saban Capital Group to expand Tiger Gate beyond Indonesia, launch new channelsBy AP
Monday, April 5, 2010
Lions Gate brings new investor to Tiger Gate
SANTA MONICA, Calif. — Lions Gate Entertainment Corp. said Monday it is forming a joint venture with a private investment group to expand its pay television operations in Asia.
The boutique movie studio described the deal as an equal partnership with Los Angeles-based Saban Capital Group, but did not disclose financial details. Saban Capital Group specializes in media and entertainment projects. It is currently an investor in the Spanish-language network Univision Communications Inc.
Lions Gate said it established its Asia television arm, Tiger Gate, in 2008 with partners William Pfeiffer and Paul Presburger. Tiger Gate operates THRILL, a thriller and horror channel, and KIX, an action channel, in Indonesia. The two channels are expanding to Hong Kong and Singapore this month, and to other Asian countries later in the year.
With Saban Capital Group’s backing, Tiger Gate will launch additional channels and acquire existing media properties in the region, Lions Gate said. Tiger Gate will distribute both Lions Gate movies and locally produced content, and will produce local feature film and television content.
Tiger Gate will continue to be run by Pfeiffer, its CEO, and Presburger, Lions Gate’s executive vice president of international business development.
Lions Gate shares fell 3 cents to close at $6.22.
Tags: California, North America, Ownership Changes, Santa Monica, United States