Former Lionsgate exec Erik Feig to lead $1bn Saudi-backed studio Arena SNK

Former Lionsgate senior executive Erik Feig has been appointed to lead Arena SNK Studios, a newly launched production outfit backed with Saudi Arabian money to the tune of US$1bn.

Erik Feig

The US-based company will focus on both blockbuster movies and high-end television series, as well as games and live events.

Investors in Arena SNK Studios include Japanese video game company SNK, which is owned by MiSK Group, a non-profit foundation established by Saudi crown prince Mohammed bin Salman in 2011. The company is also backed by Saudi broadcaster MBC Group, which is led by Majid Al-Ibrahim.

The board consists of Al-Ibrahim, as chair, in addition to venture capitalist Andreessen Horowitz, former Disney film executive Sean Bailey, AI investor Andrew Chen, Epic Games chief creative officer Charlie Wen and Feig.

Feig is the former co-president of Lionsgate’s film studio and left in 2018 to launch Picturestart. He will shift into a role as executive chairman at Picturestart in addition to assuming the CEO role at Arena SNK Studios.

On the movie side, Feig’s credits include The Hurt Locker, Sicario and La La Land as well as the Twilight and Hunger Games franchises.