Lionsgate acquires 200 films from Spyglass Media in new stake deal

 As a new cycle of content distribution agreements and renewals takes place, our resident entertainment lawyer, Brandon Blake, pulls back the curtain on the latest deal announcement from Lionsgate and Spyglass media.



As seems to be the theme of this cycle, the precise terms of the deal have been kept very tight. However, the new deal will see Lionsgate acquire a 20% investment stake in Spyglass. This will not dethrone former MGM chief Gary Barber from the lead of Spyglass, however, and it seems other key senior leadership will also remain in place. 


Spyglass assets, of course, include the ever-popular Project Runway, the iconic Scream franchise, Django Unchained, Inglourious Basterds, and Hellraiser and its upcoming spinoffs. A key part of the new deal will be the multi-year first-look TV deal, covering a nice chunk of their library titles too.


This should nicely bolster Lionsgate’s existing push into the streaming space through Starz. These 200 Spyglass titles join Lionsgate’s existing 17,000 film and TV titles, with juicy deals from Artisan, Trimark, and Summit Entertainment to flesh out their catalog. Lionsgate is reportedly also looking to jointly create content with the studio going forward. 


It’s likely we can attribute this deal at least partly to the pressures created by WarnerMedia’s merger with Discovery and Amazon’s acquisition of MGM changing how studios and creators alike navigate the modern production space. Spyglass itself, of course, represents the strategic growth and merger of then-Lantern Entertainment with parts of the failed Weinstein Co, and has mostly flourished despite majority investors and Lantern Entertainment co-presidents Andy Mitchell and Milos Brajovic being novices on the showbiz scene at the time.


No doubt we will see further details emerge over time. In the meantime, this will be a deal to watch as it develops.

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