Lionsgate and SP Media, led by Steven Paul, announced the formation of a joint venture on October 26, 2026, through which SP Media will make a capital investment to co-invest in new ventures expanding the Lionsgate platform, including independent feature film production and diversification of 3 Arts and other Lionsgate businesses.

Key Highlights

  • Joint venture structure: The agreement creates a joint venture majority owned and controlled by Lionsgate, according to the announcement.
  • SP Media investment scope: SP Media will co-invest in new ventures that expand the Lionsgate platform and extend resources toward the continuing diversification of 3 Arts and other Lionsgate businesses.
  • Film production and distribution: SP Media will produce independent feature films that Lionsgate will distribute under the terms of the deal.
  • Steven Paul background: Paul is chairman, founder and CEO of Crystal Sky Pictures and SP Media Group, with prior credits including Ghost Rider, Ghost in the Shell, and the Lionsgate-distributed Rambo: Last Blood.
  • Deal negotiators: For Lionsgate, the deal was negotiated by COO Brian Goldsmith, EVP and General Counsel Bruce Tobey, and Senior VP Corporate Development Suzy Felfeli; for SP Media, by SP Media Group President and COO Scott Karol.
  • Financial advisors: Moelis served as financial advisor to Lionsgate and Lazard served as financial advisor to SP Media; Paul Hastings LLP represented SP Media.

Lionsgate and SP Media Detail Terms of New Co-Investment Partnership

Lionsgate (NYSE:LION) and SP Media announced on October 26, 2026 that they have established a joint venture in which SP Media will make what the filing describes as "a significant capital investment" to co-invest in new ventures intended to expand and grow the Lionsgate platform. The joint venture is majority owned and controlled by Lionsgate, according to the announcement. The partnership also extends resources toward the continuing diversification of 3 Arts Entertainment and other Lionsgate businesses.

Under the terms disclosed, SP Media will produce independent feature films for Lionsgate distribution, adding a new source of content to Lionsgate's slate. Lionsgate CEO Jon Feltheimer stated in the filing that Steven Paul "has a longstanding relationship with our studio," and characterized the investment as intended to "help drive the continued growth of these businesses." Paul, for his part, described Lionsgate as "one of the most dynamic and entrepreneurial content studios in the media space today" and noted he is "delighted to build on my longstanding relationship with Jon Feltheimer and the Lionsgate leadership team."

Steven Paul is identified in the filing as the chairman, founder and CEO of Crystal Sky Pictures and SP Media Group. His prior producing credits cited in the announcement include the Baby Geniuses franchise, Ghost Rider and Ghost Rider 2: Spirit of Vengeance starring Nicolas Cage, Ghost in the Shell starring Scarlett Johansson, and the Lionsgate-distributed Rambo: Last Blood. SP Media Group President and COO Scott Karol negotiated on behalf of SP Media. Moelis and Lazard served as respective financial advisors, with Paul Hastings LLP providing legal representation to SP Media.

What Was Disclosed

Lionsgate and SP Media announced a majority Lionsgate-controlled joint venture on October 26, 2026. SP Media will co-invest in Lionsgate platform ventures and produce independent films for Lionsgate distribution, with Moelis, Lazard, and Paul Hastings LLP advising on the transaction.