Anthony D'Alessandro Editorial Director/Box Office EditorOn the day of its earnings call, Lionsgate has made the tough decision to cut 15% of its Global Motion Picture Group workforce.
Joe Drake, Chairman of Lionsgate Motion Picture Group, just revealed the bad news this morning to employees and you can read his memo below.The cuts follow those that hit marketing and distribution last March soon after cinemas closed around the world, forcing Lionsgate’s theatrical releases to either be delayed (Spiral) on the calendar to 2021 or segue into the home on PVOD (Antebellum, I Still Believe).
They also sold domestic rights to the Sarah Paulson thriller Run to Hulu. Since Drake’s return to the studio 24 months ago, Lionsgate has been strategically.
Read more on deadline.com