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business4h ago
Lionsgate Earnings: Operating Losses Hit $46 Million as Film and TV Output Slows
- Lionsgate posted a quarterly loss of $46 million as film and TV output slowed in the period.
- Total revenues fell to $475.1 million, a 21.3% drop from the year-ago quarter.
- CEO Jon Feltheimer praised AI as expanding the company’s creative tool kit while noting guardrails are needed.
- Net losses narrowed to $113.5 million from $163.3 million a year earlier.
- Lionsgate disclosed a deal with Millennium for future rights to ‘The Expendables’ franchise.
- Lionsgate’s earnings came as the company spun off Starz and faces slower expansion in theatrical releases.
- Shares traded down after hours following the quarterly results.
- The slate includes upcoming titles like 'The Hunger Games: Sunrise on the Reaping' and 'Michael' to help regain momentum.
- Lionsgate reported a reduced TV segment profit despite lower TV revenue.
- Lionsgate reported a fall in motion picture segment revenue due to fewer wide releases.
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