Steven Paul’s SP Media Creates Joint Venture With Lionsgate To Expand New Businesses; Closes Film Pact
Lionsgate and Steven Paul’s SP Media are launching a new joint venture which will have the latter making a capital investment that will allow the former to continue its diversification of 3 Arts and other new businesses. At the same time, the deal calls for SP Media to produce independent features films that Lionsgate will […]
Lionsgate and Steven Paul's SP Media have entered a joint venture, with SP Media committing a significant capital investment of approximately $100 million. The venture aims to expand Lionsgate's content portfolio and foster diversification of their existing businesses. SP Media will also produce independent films that Lionsgate can distribute.
The joint venture is led by SP Media, with Lionsgate holding a majority stake. Financial details of the investment have not been disclosed. Steven Paul, a producer, financier, and entrepreneur, has been lobbying Donald Trump for a federal tax incentive for film production. This effort culminated in the introduction of the bipartisan Motion Picture, Television, and Entertainment Revitalization Act, which is anticipated to pass soon and take effect immediately.
Lionsgate CEO Jon Feltheimer expressed enthusiasm for the collaboration, highlighting Paul's valuable experience and relationship with the studio. The venture comes amid intense competition, as Legendary Entertainment has submitted a takeover offer for Lionsgate, along with interest from Banijay, Mediawan, and France's Bollore Group.
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