Tyler Perry and LIONSGATE to launch Cable Network

Spike Lee is fuming at this news right here. I could definitely seeing this happening  next year and I would not bet against this being successful. For all the critiques of Perry’s films who feel they are chock full of cooness and stereotypes this is not a good sign.

via NY Times

Tyler TV, which is still a working title, is intended as a home base for the prolific Mr. Perry — just as Ms. Winfrey, one of Mr. Perry’s most ardent supporters, now operates OWN. But as OWN demonstrates, cable plans that seem promising can be tricky. Ms. Winfrey’s channel, a partnership with Discovery Communications, has been a major ratings disappointment.
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More Madea on the way, Tyler Perry Re-ups with Lionsgate

People who complain about his stereotypical images in his comedies and plays will be shocked to find out those movies have made a billion-dollars and will not be going anywhere anytime soon due to him extending his deal with Lionsgate.

via Inside Movies
“Together, Lionsgate and I have built the ideal filmmaker/studio relationship, and I’m thrilled that it will be continuing,” said Perry, in a statement. “We share an entrepreneurial spirit and have a great business rapport. But more importantly, Lionsgate has been incredibly affirming of my relationship with my audience — I’ve always had the artistic freedom to speak what I want, how I want, and when I want through my films.”

In the last six years, Perry’s 10 films grossed more than $520 million for Lionsgate at the box office. The studio has sold more than 40 million DVD and digital copies of his films, television shows, and stage plays. “Tyler Perry is one of the most powerful and unique entertainment brands in the world today, with a fan base that is virtually unrivaled in its loyalty and passion,” said Lionsgate co-chairman and CEO Jon Feltheimer, in a statement.
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Investors bail on Lionsgate

lionsgate

via LA Times

Investors have pulled out of a multi-film financing agreement with Lionsgate, the movie and television studio behind the “Saw” and Tyler Perry film franchises.

The move, which reflects the increasingly tough environment for film financing, means that Lionsgate did not have the money it was counting on to finance the final three movies on its fiscal 2009 slate.

As a result, Lionsgate itself had to commit its own capital to pay for the already released films “The Spirit” and “My Bloody Valentine 3D,” and its upcoming Feb. 20 release “Tyler Perry’s Madea Goes to Jail.”

The loss of funding from the company’s Goldman Sachs-led Pride Pictures facility caused a “significant, unexpected shortfall of $65 million in free cash flow,” Lionsgate Chief Executive Jon Feltheimer said Tuesday.

Going forward, Lionsgate will be forced to rely more heavily on self-funding its movies and bringing in partners where it can on a film-by-film basis, as it had done in years past.

Shares of parent Lions Gate Entertainment Corp., which is based in Vancouver but runs its studio operations out of Santa Monica, fell $1.43 to $3.90 Tuesday, a 27% drop. As the stock plunged, corporate raider Carl Icahn increased his stake in the company to 10.56% from 9.2%, according to a regulatory filing. Continue reading