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‘Borderlands’ & More Squeeze Lionsgate’s Quarter As CEO Candidly Admits, “We Reported Disappointing Financial Results”
Lionsgate’s Motion Picture group saw revenue nose up 3% last quarter to $40 million last quarter on more theatrical releases but profit fell to $2.8 million as they underperformed, especially 'Borderlands'/
The combination of a return to strong content slates, the continued stellar performance of our film and television library and sure-handed execution will put us back on the path to solid growth and shareholder value creation.” The company also noted in its earnings release for the September quarter that about 8% of its eligible U.S. employees elected to take advantage of voluntary severance and early retirement packages it offered as it continues to streamline its business by adjusting to the economic realities of the marketplace. The Studio Business, comprised of the Motion Picture and Television Production segments, reported revenue of $823.7 million, an increase of 4% from the prior year quarter.
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