Lions Gate Entertainment to Buy Trimark Holdings
Lions Gate Entertainment said Tuesday that it has agreed to acquire independent film and video company Trimark Holdings Inc. for $50 million in cash and stock. Lions Gate also will assume $35 million in Trimark debt.
Under the $10-a-share deal, Trimark stockholders will receive $4.50 in cash and two Lions Gate shares for each Trimark share.
The acquisition of Marina del Rey-based Trimark, parent of Trimark Pictures, by Lions Gate has been expected.
The deal is part of a larger effort by Vancouver, Canada-based Lions Gate to roll up several smaller entertainment companies into one larger firm that can boost profits by cutting overlapping operations.
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