Lionsgate and SP Media Form Partnership to Finance Independent Films
A new majority-controlled venture will bring outside investment and independently produced films to Lionsgate's distribution operation.
Lionsgate announced October 26 that it has formed a joint venture with Steven Paul’s SP Media, bringing new capital into its entertainment operations and creating a production relationship for independent feature films.
Under the agreement, SP Media will invest in ventures involving Lionsgate’s entertainment platform and 3 Arts Entertainment. It will also produce independent films intended for distribution by Lionsgate. The studio retains majority ownership and control.
Credit: Great Point Studios – Lionsgate Yonkers
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Lionsgate’s official announcement did not disclose a dollar amount. TheWrap reported an investment of approximately $100 million, citing a source familiar with the deal; that figure is not independently confirmed by the company.
The partnership offers an additional source of financing at a time when independent features face challenging market conditions. It remains to be seen which projects emerge from the agreement and how many will ultimately reach theaters.
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