Lionsgate, on the heels of a deal with Discovery Communications and John Malone’s Liberty Global that swapped a 6.8% stake in the movie studio for $390 million, has made a strategic investment in independent producer Pilgrim Studios, a deal that will give the movie and television producer a solid foothold in unscripted fare for cable networks.
Terms of the deal were not disclosed but published reports put Lionsgate’s investment at around $200 million.
Pilgrim produces 47 unscripted and scripted series across 27 networks, including Ghost Hunters (Syfy); Welcome to Sweetie Pie’s (OWN); Fast N’ Loud (Discovery); Wicked Tuna (National Geographic Channel) and The Ultimate Fighter (FS1). Pilgrim will continue to operate independently and keep its current management team headed by founder and CEO Craig Piligian.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.