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Film Flops Like ‘Borderlands’ Lead Lionsgate to Steep Quarterly Losses, CEO Jon Feltheimer Acknowledges ‘Disappointing’ Results
Film flops like'Borderlands' and the impact of the strikes saw losses pile up at Lionsgate during the most recent quarter.
“Borderlands,” “The Crow,” and other film flops deflated Lionsgate ‘s quarterly earnings, leading the movie and TV studio to report a loss of $163.3 million. It’s been a period of transition at the company behind “The Hunger Games” and “Twilight,” with Lionsgate undergoing a long process intended to separate its studio business from its Starz streaming service and TV network. The TV and film production business will exist under the umbrella of Lionsgate Studios, which debuted as a standalone public entity on May 14 under the Nasdaq ticker symbol LION.
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