Lionsgate said Wednesday that it has purchased a majority stake in talent management and production house 3 Arts Entertainment.
Terms of the deal weren’t released but reports put the price of the deal in the $300 million to $350 million range.
3 Arts is headed by partners Erwin Stoff, Howard Klein, Michael Rotenberg, Molly Madden, Dave Becky, David Miner, and Nick Frenkel. The company’s television production slate includes TV series like It's Always Sunny in , 30 Rock, King of the Hill, The Office, Parks and Recreation, Brooklyn Nine Nine, The Mindy Project, Master of None, Unbreakable Kimmy Schmidt, Insecure, American Vandal, and Silicon Valley. Its film slate includes The Edge of Tomorrow, Unbroken, Constantine, Devil's Advocate, I Am Legend, 13 Hours, Office Space and The Matrix.
"We're excited to be partnering with a best-in-class talent management company that shares our entrepreneurial culture and vision for the future," Lionsgate Chief Executive Officer Jon Feltheimer said in a statement. "This deal checks all the boxes – a strategic and accretive transaction for our shareholders and a win/win partnership for both companies. It enables us to deepen our already successful relationship with 3 Arts and allows them to offer a richer palette of opportunities to their clients."
The deal was negotiated for Lionsgate by Television Group chief operating officer Laura Kennedy. The studio was represented by Robert Haymer of Latham & Watkins LLP. 3 Arts was advised by investment bank Moelis & Company LLC, Alan Epstein at Venable LLP and Craig Jacobson at Hansen, Jacobson.
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