Lionsgate & OddLot Entertainment Finalize Multi-Picture Distribution Deal
Lionsgate (NYSE: LGF) and OddLot Entertainment have formed a multiyear, multipicture co-financing and distribution deal beginning with OddLot's co-financing of the action comedy Mortdecai starring Johnny Depp, the two companies announced today. The arrangement provides a framework for Lionsgate and OddLot to co-produce and co-finance additional pictures that may be sourced by either party, and it provides OddLot with access to committed distribution on certain pictures.
Mortdecai, which is set to begin production this fall, features an all-star cast including Depp, Gwyneth Paltrow, Ewan McGregor, Paul Bettany and Olivia Munn. OddLot is already partnered with Lionsgate on the sports drama/comedy Draft Day, starring Kevin Costner, Jennifer Garner, Denis Leary and Frank Langella, slated for release next year. OddLot also produced and spearheaded the partnership with Lionsgate and Digital Domain on the science fiction adventure Ender's Game, starring Harrison Ford, Asa Butterfield, Haile Seinfeld, Viola Davis and Ben Kingsley, which will be released November 1.
"We're delighted to extend and expand our longstanding relationship with OddLot founder Gigi Pritzker and her team," said Lionsgate Motion Picture Group Co-Chairs Rob Friedman and Patrick Wachsberger. "Our partnership on Ender's Game and Draft Day has now been extended to include Mortdecai, and we look forward to finding many more pictures to partner on in the future. OddLot is a reliable, accomplished, respected company, and is an important financial partner, and they will provide us with a valuable and consistent supply of future films for our portfolio."
"We've partnered with Lionsgate on a number of films over the past five years and we feel their entire team shares our entrepreneurial spirit and commitment to commercially exciting, star-driven films with global appeal," said OddLot Chief Executive Officer and founder Gigi Pritzker. "Lionsgate is one of the most dynamic and exciting studios in the entertainment industry today, and we look forward to expanding our current partnership on Ender's Game, Draft Day and Mortdecai to encompass an even broader slate as our relationship continues to evolve."
The deal was negotiated by Lionsgate Motion Picture Group General Manager Sean Kisker, Lionsgate EVP Business & Legal Affairs and Deputy General Counsel David Friedman and Lionsgate SVP Business & Legal Affairs Jean Chi. For OddLot negotiations were led by Co-Presidents Bill Lischak and Michael Nathanson, EVP Business and Legal Affairs Aaron Michiel, SVP of Finance Natalya Petrosova and outside counsel Bryan Wolf and Matt Johnson of Ziffren Brittenham LLP.