Lions Gate Entertainment Corp., the independent film studio behind “The Hunger Games,” reported a quarterly profit that beat analysts’ estimates on ticket sales for the final “Twilight” and improved international results.
As throngs of “Twilight” fans queue outside theaters today for the last film in the teen vampire series, Hollywood studios are lining up too, with more pictures based on young-adult books depicting a dark future.
Lions Gate Entertainment Corp. rose the most in more than three years after video sales of “The Hunger Games” helped quarterly profit beat analysts’ estimates and bolstered the company’s outlook for the rest of the year.
Lions Gate Entertainment Corp. posted a loss on costs to market the film hit “The Hunger Games” and the purchase of Summit Entertainment. The company also predicted $900 million in profit over the next three years.
Lions Gate Entertainment Corp. relied on old-fashioned Hollywood schmoozing, legal wrangling and a stock deal with a friendly board member to fend off billionaire Carl Icahn ’s almost two-year hostile pursuit.
As Carl Icahn presses his hostile takeover bid for Lions Gate Entertainment Corp., he’s finding his biggest obstacle isn’t a “poison pill” or management -- it’s former protégé Mark Rachesky, the largest stockholder.