The transaction is effective immediately and creates a platform which combines a global distribution infrastructure, production capabilities and developed talent partnerships.
With the move, 3 Arts will continue to operate under the leadership of its partners with an operating board.
The prodco’s slate includes hit series such as It’s Always Sunny in Philadelphia, 30 Rock, The Office, Parks and Recreation (pictured), Brooklyn Nine Nine, Master of None and more comedy classics.
Talent under the banner includes Erwin Stoff, Howard Klein, Michael Rotenberg, Molly Maden, Dave Becky, David Miner and Nick Frenkel.
The deal was negotiated for Lionsgate by Television Group CCO Laura Kennedy.
“We’re excited to be partnering with a best-in-class talent management company that shares our entrepreneurial culture and vision for the future,” said Lionsgate CEO Jon Feltheimer.
“This deal checks all the boxes – a strategic and accretive transaction for our shareholders and a win/win partnership for both companies. It enables us to deepen our already successful relationship with 3 Arts and allows them to offer a richer palette of opportunities to their clients.”
The 3 Arts management team added: “We’re thrilled to be partnering with one of the most dynamic and innovative entertainment companies in the business. Every day our clients are asking about the changing landscape, and this venture will create enormous opportunities to harness Lionsgate’s areas of expertise to give clients a competitive edge.”