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Lionsgate invests in Spyglass Media

Fashion competition series Project Runway

US studio Lionsgate has acquired the vast majority of Spyglass Media Group’s feature film library of around 200 titles, as the pair form a strategic content partnership.

The agreement gives Lionsgate a 20% investment stake in Spyglass, whose major assets include the latest instalment of the Scream blockbuster horror franchise to be released next year, comedy-drama movie The Upside, fashion competition series Project Runway and the revival of the Hellraiser franchise which is currently in preproduction.

The library titles acquired include Fruitvale Station, The King’s Speech, Scream 4, Scary Movie 5, Spy Kids 4, Paddington, Silver Linings Playbook, Lee Daniel’s The Butler, Django Unchained, Inglourious Basterds and The Hateful Eight.

The deal also includes a multi-year first-look TV deal between Lionsgate Television and Spyglass.

Gary Barber will continue to lead Spyglass as its chairman and CEO, and the company’s senior leadership team will remain in their current roles.

The company acquired its film and TV library from the Weinstein Co at a bankruptcy auction three years ago following the allegations of sexual assault and misconduct against Harvey Weinstein.

“This agreement continues to grow our valuable portfolio of IP while partnering us with Gary Barber, one of the leading entrepreneurs and content creators in the business,” said Lionsgate CEO Jon Feltheimer.

“It is a win-win deal that creates significant incremental value for both companies while continuing to add to our global content distribution platform at a time when the demand for premium content is greater than ever.”

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