Joe Drake has returned to Lionsgate as Co-Chair of its Motion Picture Group. He’ll share the title with Patrick Wachsberger, who recently signed a new agreement with the Company, and together they will run Lionsgate’s worldwide motion picture operations. Good Universe cofounder and CEO Nathan Kahane will continue to head Good Universe, which is owned by Lionsgate and has overall deals with Seth Rogen, Evan Goldberg and James Weaver’s Point Grey Pictures, and Don’t Breathe filmmaker Fede Alvarez’s Bad Hombre.
Drake exited several years ago to build Good Universe with Kahane. At the time, Lionsgate disclosed in an SEC filing that Drake, who spearheaded The Hunger Games, exited with a $3.4M severance, with more to come if those films hit certain box office targets. Now he’s back as Lionsgate tries to find the next The Hunger Games.
Lionsgate Restructures Motion Picture Group Under Joe Drake; Jen Hollingsworth, Ron Schwartz, Damon Wolf To Lead New Divisions
“We’re delighted to welcome Joe and Nathan, entrepreneurs with a great track record, back to Lionsgate,” said Lionsgate Chief Executive Officer Jon Feltheimer and Vice Chairman Michael Burns. “Joe is one of the architects of our portfolio film strategy and a perfect fit for our culture. With Joe joining an incredibly talented group of executives, we’ve assembled a team with unparalleled knowledge of the global film marketplace while at the same time strengthening our relationships with best-in-class talent and continuing the diversification of our content platform.”
Drake was Lionsgate Co-COO and Motion Picture Group President for five years during a run that included The Hunger Games, The Expendables films, Kick Ass, 3:10 to Yuma, Precious and the Saw franchise and Tyler Perry films. Along with Good Universe, Drake also partnered with Sam Raimi, Robert Tapert and Kahane in Ghost House Pictures, which generated the Fede Alvarez’s breakout Don’t Breathe and Evil Dead, and other genre hits.
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