SANTA MONICA, Calif., Sept. 24, 2012 /PRNewswire/ -- Following its January 2012 acquisition of Summit Entertainment, Lionsgate (NYSE:LGF), a leading global entertainment company, announced today that it has expanded its partnership with IDC, a joint venture between Summit and NuVision founder Pedro Rodriguez, to encompass distribution of Lionsgate titles in Latin America as well. IDC has been distributing Summit titles in Latin America since 2005.
"As we continue to build our distribution network around the world, we're customizing different approaches to the different territories in which we operate," said Lionsgate Motion Picture Group Co-Chairs Patrick Wachsberger and Rob Friedman. "In Latin America we are building upon Summit's longstanding venture with Pedro Rodriguez and his team at IDC, who have unparalleled expertise in the region. IDC's results for our Summit titles in the past have been outstanding and the quality of its distribution first class. By adding our own Lionsgate films and expanding our partnership with IDC, we believe that we can replicate the success we have achieved through self-distribution in the United Kingdom.""I have worked closely with Patrick, Rob and the rest of their team on the TWILIGHT franchise and other Summit films and we're thrilled to expand our venture to encompass Lionsgate product as well," said Rodriguez. "Lionsgate has emerged as a major force in the global marketplace, and we're pleased to have a pipeline of some of the most commercially exciting films in the world to bring to our audiences throughout Latin America." Under terms of the new agreement, Lionsgate International Television will handle the sale of television, SVOD, VOD and EST rights to Lionsgate, Summit and third-party product throughout Latin America.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts