Lionsgate has acquired a majority stake in 3 Arts Entertainment, the Jon Feltheimer-led company said on Wednesday. 3 Arts will continue to operate under the leadership of its partners with an operating board, Lionsgate specified.
Negotiations between the two entities heated up last month, when Lionsgate offered between $300 million and $350 million for 50 percent of the TV and film production house. Specific financial terms of the now-closed deal were not officially disclosed, though it stands to reason that the dollar range holds and the percentage has grown to 51 percent.
“We’re excited to be partnering with a best-in-class talent management company that shares our entrepreneurial culture and vision for the future,” Lionsgate CEO Jon Feltheimer said in a media release. “This deal checks all the boxes – a strategic and accretive transaction for our shareholders and a win/win partnership for both companies. It enables us to deepen our already successful relationship with 3 Arts and allows them to offer a richer palette of opportunities to their clients.”
“We’re thrilled to be partnering with one of the most dynamic and innovative entertainment companies in the business,” the 3 Arts management team added. “Every day our clients are asking about the changing landscape, and this venture will create enormous opportunities to harness Lionsgate’s areas of expertise to give clients a competitive edge.”
The deal was negotiated for Lionsgate by Television Group COO Laura Kennedy. The studio was represented by Robert Haymer of Latham & Watkins LLP. 3 Arts was advised by investment bank Moelis & Company LLC, Alan Epstein at Venable LLP and Craig Jacobson at Hansen, Jacobson.
3 Arts is the production house behind TV hits “It’s Always Sunny in Philadelphia,” “30 Rock,” “The Office,” “Parks and Recreation,” “Brooklyn Nine Nine,” “Master of None,” “Unbreakable Kimmy Schmidt” and “Silicon Valley,” among others. The company has also produced films like “The Edge of Tomorrow,” “I Am Legend,” “Office Space” and “The Matrix.”
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THUY TRANG (Yellow Ranger): The actress who played California teen Trini Kawn tragically died in a car accident in 2001. But before that, she starred in two movies outside of the "Power Rangers" universe, 1996 comedy "Spy Hard" and 1996 action film "The Crow: City of Angels."
AUSTIN ST. JOHN (Red Ranger): The real-life martial artist who played Jason Scott Lee on the hit Fox Kids program is now an EMT serving overseas, according to his Facebook profile. After the original series ended, the Ranger appeared in three other incarnations of the famous fighting force, including "Power Rangers Zeo," "Turbo" and "Wild Force."
DAVID YOST (Blue Ranger): The oldest cast member, who played high school student Billy Cranston, has said he left the series in 1996 due to homophobia he experienced on set. Although he has racked up a few acting credits since ("After Diff'rent Strokes: When the Laughter Stopped," "Degenerate"), he spent much of the last decade producing reality television, including "The Real Housewives of Beverly Hills."
WALTER JONES (Black Ranger): This 43-year-old actor played Zack Taylor, a.k.a. the most color coded Ranger on the team, still acts to this day. He has 46 acting credits to his name, including TV guest star appearances, movies and voice work.
AMY JO JOHNSON (Pink Ranger): The 43-year-old actress who played Kimberly Hart is arguably the most successful of the "Power Rangers" in Hollywood. Since leaving the series in 1995, she has starred as regular on TV shows including "Felicity," "The Division" and "Flashpoint." The married mom is also an accomplished singer/songwriter, with three studio albums under her belt.
JASON DAVID FRANK (Green/White Ranger): The 40-year-old mixed martial artist who played Tommy Oliver reprised the role in 2014 for an episode of "Power Rangers Megaforce." In a 2013 interview, the MMA fighter said he's, "talking to Saban about making a PG-13 Green Ranger movie," and shot a reality show called "This Is My Morphin Life."
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A look back at the originals as Lionsgate and Haim Saban work to launch the classic kids television program’s big-screen reboot