Lionsgate has extended CEO Jon Feltheimer’s contract through the end of July 2029.
The expansion was announced in an SEC filing published Wednesday. In Feltheimer’s new contract, he will earn $1. 5 million in base salary and be eligible for performance-based bonuses ranging from $7. 5 million to $15 million starting in fiscal year 2025. The new agreement also includes terms related to acquired common stock, stock awards, employee benefit systems and other incentives.
The contract extension comes shortly after Lionsgate spun off its film and television divisions into a separate publicly traded company called Lionsgate Studios, allowing it to receive more capital ahead of a long-awaited separation of the major studio and its streaming service. broadcast, Starz.
In its latest earnings report, Lionsgate reported a loss for the quarter, which reduced it to $59 million from a year earlier. Starz subscribers rose to 13. 2 million in North America, up from 13. 38 million in the previous quarter.