Lionsgate Registers Stellar TV Revs, But TV Guide Net Falters

Charlie-Sheen-Lionsgate confirmed Thursday it is developing a TV series based on the "Harold & Kumar" movie franchise, while CEO Jon Feltheimer said the concept has drawn considerable interest from networks.

The "H&K" film trilogy had its latest release earlier this month.

Lionsgate also said on an investor call it has signed a deal with Showtime for an eighth season of “Weeds” and inked a new agreement with star Mary Louise Parker. The number of “Weeds” episodes will top 100, giving the series even greater value in syndication. 

Lionsgate said comedy “Anger Management” with Charlie Sheen, set to air on FX, will begin production early next year. Lionsgate also launched drama “Boss” in the quarter on Starz, which was renewed before its premiere.

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A major influx from a “Mad Men” syndication deal with Netflix drove Lionsgate to record TV revenues in the July-September quarter of $139.2 million.

Separately, the TV Guide Network posted a much greater loss of $12.2 million, compared to the same period a year ago. Revenues dropped from $28 million to $22.6 million. Feltheimer said smaller networks may be suffering from what he described as a “choppy” ad market.

He said the company has expected the network to experience some bumps as it transitions to a full-screen entertainment network, where it may lose distribution and have to gain it back.

Lionsgate said overall performance in the July-September quarter saw revenue drop by $98.2 million to $358.1 million as its film business lost steam. Profits fell to $24.6 million from $29.7 million a year ago.

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