Leading Film Industry Executive Joe Drake Named Co-Chair of Lionsgate Motion Picture Group
Studio's Acquisition of Drake and Nathan Kahane's Good Universe Diversifies Film Portfolio
SANTA MONICA, Calif. and VANCOUVER, British Columbia, Oct. 12, 2017 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) has named top film industry executive Joe Drake Co-Chair of its Motion Picture Group, the Company announced today. He will team with Motion Picture Group Co-Chair Patrick Wachsberger, who recently signed a new agreement with the Company, in running Lionsgate's worldwide motion picture operations.
Good Universe cofounder and CEO Nathan Kahane will continue to head Good Universe under Lionsgate ownership. He will continue to oversee key talent partnerships including Seth Rogen, Evan Goldberg and James Weaver's Point Grey Pictures (Neighbors, Sausage Party, Flarsky) and horror maven Fede Alvarez's Bad Hombre (Don't Breathe, Evil Dead).
"We're delighted to welcome Joe and Nathan, entrepreneurs with a great track record, back to Lionsgate," said Lionsgate Chief Executive Officer Jon Feltheimer and Vice Chairman Michael Burns. "Joe is one of the architects of our portfolio film strategy and a perfect fit for our culture. With Joe joining an incredibly talented group of executives, we've assembled a team with unparalleled knowledge of the global film marketplace while at the same time strengthening our relationships with best-in-class talent and continuing the diversification of our content platform."
Before founding Good Universe in 2012, Drake served as Lionsgate Co-COO and Motion Picture Group President for five years. He and his team were responsible for launching the blockbuster Hunger Games and Expendables franchises along with hits including Kick Ass, 3:10 to Yuma, multiple Oscar winner Precious and many of Lionsgate's Saw franchise and Tyler Perry films.
At Good Universe, Drake and Kahane collaborated with Point Grey on a series of highly successful and critically-acclaimed hits including Neighbors, The Night Before, The Disaster Artist and the upcoming comedy Flarsky starring Charlize Theron and Rogen which Point Grey is producing for Lionsgate. Drake also partnered with Sam Raimi, Robert Tapert and Kahane in Ghost House Pictures, a leader in the horror thriller genre with eight #1 box office hits including Fede Alvarez's breakout sensation Don't Breathe and Evil Dead. Good Universe also produced the comedy hit Last Vegas for CBS Films.
The deal was negotiated by Sheppard Mullin, Richter & Hampton and Lionsgate Co-COO Brian Goldsmith and General Counsel & Chief Strategic Officer Wayne Levin for Lionsgate. It was negotiated by O'Melveny & Myers LLP and Good Universe's Michael Meyer and Jeremy Needleman for Good Universe.
The first major new studio in decades, Lionsgate is a global content platform whose films, television series, digital products and linear and over-the-top platforms reach next generation audiences around the world. In addition to its filmed entertainment leadership, Lionsgate content drives a growing presence in interactive and location-based entertainment, gaming, virtual reality and other new entertainment technologies. Lionsgate's content initiatives are backed by a 16,000-title film and television library and delivered through a global licensing infrastructure. The Lionsgate brand is synonymous with original, daring and ground-breaking content created with special emphasis on the evolving patterns and diverse composition of the Company's worldwide consumer base.
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