VC signs agreement thru Oct. 2017

Lionsgate said Monday that vice chairman Michael Burns has signed a new long-term employment agreement through October 2017.

Burns joined the board and became vice chair in 1999. With CEO Jon Feltheimer he has built the studio into a major, global entertainment company acquiring Summit Entertainment early this year.

He’s also led a series of initiatives related to Lionsgate’s capital structure, including a new $800 million revolving credit facility and paying down the $500 million Summit term loan more than two years early.

“We’re delighted that Michael will continue to help guide Lionsgate’s growth through 2017,” said Feltheimer. “From serving as our public face on Wall Street to reducing our cost of capital to helping spearhead our transition to a digital world, Michael is the best partner I could ask for, and he works tirelessly to create long-term shareholder value.”

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