LIONSGATE Relocates International Sales Operations to England
In a move reflecting the increasing globalization of its business, Lionsgate (NYSE: LGF), a premier next generation global content leader, has relocated its international sales operations to London, England, the Company announced today.
As part of the move, the Company has already relocated several key international executives, including Motion Picture Group Executive Vice Presidents of International Sales Wendy Reeds and Crystal Bourbeau, and is in the process of hiring several additional executives for the London office as well. Lionsgate's international sales headquarters will be based at the Company's Lionsgate UK offices.
Hailing the move, British Chancellor of the Exchequer George Osborne said, "I am delighted that Lionsgate will establish its international sales headquarters in the UK. This is testament that Britain is open for business. As Chancellor I have been determined that we back UK's brilliant creative industries which is why we have invested in skills and training as well as providing tax relief for films, high-end TV, animation, video games and regional theatre."
"The relocation of our international sales headquarters accelerates our evolution into a truly global organization and brings us closer to our overseas markets," said Lionsgate Chief Executive Officer Jon Feltheimer. "The UK government has been an extremely supportive partner in facilitating a move that positions us to capitalize even more fully on tremendous growth opportunities in the global marketplace."
Lionsgate reported record international revenues last year, and the Company has recently announced expanded output agreements with Studiocanal and Tele Munchen Group in Germany, Roadshow Pictures in Australia, Nordisk Film in Scandinavia and Belga Films in Benelux as well as a new output arrangement with Leone Film Group in Italy. Lionsgate also recently announced an innovative content partnership with The Alibaba Group in China.
The growth of the international marketplace has also been reflected in Lionsgate's operations in the UK, where Lionsgate UK has achieved two straight banner years of revenue and profitability.