People who follow box office results closely won’t be surprised, but Lionsgate made it official today: Conan the Barbarian, Warrior and Abduction were such stiffs that the company says in an SEC filing it expects to announce that it lost somewhere between $40M-$50M in cash flow for the current quarter. Lionsgate made the unusual forecast in a prospectus to sell 19.2M shares, which stems from its agreement to help billionaire Carl Icahn unload most of his holdings in the company. The arrangement ended Icahn’s effort to take control. Vice Chairman Michael Burns is meeting with investors who might want to buy the shares. Lionsgate stock was unchanged in mid-day trading.
Lionsgate Says It Sees Losses From 'Conan The Barbarian', 'Warrior', And 'Abduction'
What's Hot on Deadline
Alicia Vikander Launches Vikarious Productions; Sets First Project 'Euphoria' With Eva Green- Cannes
FX Orders Ryan Murphy Anthology Series 'Feud', Jessica Lange & Susan Sarandon To Star In First Installment: Crawford v Davis
Latest Film News
- Epic Pictures To Sell ‘Redcon-1’; ‘Spark’ Alights At Double Dutch; Artist View Gets Traplight Pair – Cannes…
- FCC Approves Charter’s Deal To Buy Time Warner Cable
- ‘The Revenant’ Exec Producers Form Production-Financing Entity Facing East
- ‘Captain America: Civil War’ Pacing Behind ‘Ultron’ But Still Super With $178M-$188M Opening – Box…
- Sumner Redstone Trial: "Severely Impaired" Mogul Suffering From Dementia, Doctor Tells Court
- Ben Affleck Elevates ‘Justice League’ Presence; Becomes Exec Producer