Read on: TheWrapTheWrap
Ahead of finalizing its $289 million deal to buy The Weinstein Co., Lantern Entertainment has tapped industry veterans Steve Beeks, Alexa Platt and Lauren Zalaznick to consult for the company as it looks to revive the film studio.
Lantern Capital co-founders Andy Mitchell and Milos Brajovic, which owns and operates Lantern Entertainment, said in a statement that in their roles as advisors, they will “help position the new company for a creative and strategic future in the development, production and delivery of quality content across all platforms.”
“As we close this transaction in the coming days, these industry experts will help us implement a thoughtful strategy to launch Lantern Entertainment,” Mitchell and Brajovic said. “We have such tremendous respect for Alexa, Lauren and Steve. This further underscores our commitment to engage the best in the business in this formative stage of the new company.”
Beeks has helped lead multiple turn-around efforts and most recently served as co-president and co-chief operating officer of Lionsgate Entertainment. There he coordinated all aspects of production, acquisition and distribution. Beeks was instrumental in leading growth from approximately $380 million in revenue to $4.3 billion in 14 years at Lionsgate.
Platt was previously chief financial officer for Open Road Films, and head of finance at AwesomenessTV where she managed the financial operations and strategic planning for the YouTube multichannel network. Prior to Open Road, Platt worked at Paramount and TWC.
Zalaznick is an award-winning indie film producer and recently served as executive vice president at NBCUniversal. She led the entertainment and digital networks portfolio. During her tenure, Zalaznick was integral in Telemundo securing the rights to the 2018 and 2022 World Cup. Zalaznick led Bravo Media to garner the first-ever Emmy Award nominations and a win for a cable network in the primetime category of Competitive Reality, for “Project Runway” and “Top Chef.”
Last week, Lantern and TWC reached an agreement with the unsecured creditors committee to resolve their concerns.
The companies said the sale price would be reduced to $289 million, cutting the initial $310 million price by $21 million, rather than the $23 million reduction the companies had previously considered.
“The resolution also includes, among other things, Lantern’s agreement to make numerous cure payments for contracts it is assuming in the sale — an issue that was important in resolving the concerns of unsecured creditors,” TWC said in a statement last week.
The sale is expected to close on Wednesday, but is subject to approval by a bankruptcy court following a hearing scheduled for 10 a.m. Eastern on July 11.