(By Balaseshan) Lions Gate Entertainment Corp. (NYSE:LGF) and Nordisk Film have concluded a new multi-year output agreement over distribution of feature films in Scandinavia.
Under the deal, Nordisk will distribute in Scandinavia feature films from both Lionsgate and Summit Entertainment, which Lionsgate recently acquired.
The agreement extends Nordisk's existing output arrangement with Summit to encompass the entire Lionsgate family of feature films and was announced Friday at the Cannes Film Festival.
The recent merger of Lionsgate and Summit allows Lionsgate to bring a dramatically expanded portfolio of product to its distribution partners around the world and enables the company to achieve significant economies of scale and an even higher level of consistency and predictability in its global business.
The upcoming Lionsgate Summit combined slate includes such releases as Lionsgate's Catching Fire, the next installment in The Hunger Games global blockbuster franchise, Sam Raimi's The Possession, The Last Stand, starring Arnold Schwarzenegger, and the new Dirty Dancing film.
The upcoming release also include Summit's The Twilight Saga: Breaking Dawn Part 2, the fifth installment in a franchise that has already grossed more than $2.5 billion worldwide, Step Up Revolution, The Impossible, Red 2, Now You See Me and The Tomb, pairing Arnold Schwarzenegger and Sylvester Stallone.
LGF is trading down 0.64% at $12.36 on Friday. The stock has been trading between $5.76 and $16.19 for the past 52 weeks.