Lionsgate Signs To Distribute Discovery's Network Portfolio In U.S.

(RTTNews) - Lionsgate (LGF) and Discovery Communications (DISCA, DISCB, DISCK) Thursday said they have entered into an exclusive long-term agreement for Lionsgate to distribute programming from Discovery's network portfolio across packaged media platforms in the United States.

The agreement encompasses DVD and Blu-ray distribution, Discovery Channel, TLC, Animal Planet and Investigation Discovery.

The companies said the first release under the agreement will be the February 23, 2016 Blu-ray and DVD release of Racing Extinction that appeared on Discovery Channel on Wednesday.

Lionsgate Home Entertainment President Ron Schwartz said, "We're thrilled to expand our relationship with Discovery, home of some of the most exciting brands on television, and delighted to bring their diverse and growing portfolio of programming to our home entertainment consumers."

In addition to Lionsgate's own film and television pipelines and the Discovery Communications content announced today, the Company's home entertainment business distributes content from other leading third-party suppliers including STUDIOCANAL, Miramax, A24 and Roadside Attractions.

Earlier in the last month, Discovery Communications has agreed to purchase five million common shares of Lionsgate. Liberty Global also purchased five million common shares, resulting in each company having an approximately 3.4% shareholding of Lionsgate's current outstanding shares.

Discovery Communications President and CEO David Zaslav and Liberty Global President and CEO Mike Fries also were named to the Lionsgate Board of Directors.