Lionsgate has renewed its long-term contract for veteran executive Patrick Wachsberger as head of its motion picture group.Wachsberger, an expert in foreign sales, has oversight of Lionsgate's feature film acquisitions, production, and distribution. He and Rob Friedman re-launched Summit Entertainment in 2007 with a beefed-up production slate, leading to Lionsgate buying Summit for $412 million in 2012 after Summit hit paydirt with the enormously successful "Twilight" franchise.After the merger, Wachsberger and Friedman were named co-presidents of the motion picture group...
A 30-year vet, he’s steered Lionsgate to huge global success. He oversees all aspects of feature film acquisition, production and distribution. Under his watch Lionsgate’s slate has generated an average of nearly $2 billion at the global box office each of the past four years, led by the mega-blockbuster “Hunger Games” franchise, the “Now You See Me” series and “Tyler Perry’s Boo! A Madea Halloween,” along with the critically acclaimed “Hacksaw Ridge,” “Sicario” and “La La Land.” Upcoming films include “Last Flag Flying,” “Wonder” and “Robin Hood.”
He has turbo-charged the company’s international box office (which has grossed more than $1 billion three years in a row) and built a global sales and distribution infrastructure including nearly 20 output deals in major territories as well as the IDC 50/50 joint venture serving Latin America.
Before joining Lionsgate, Wachsberger was co-chairman/president of Summit, the company he helped launch in 1993 and turned into one of the premier independent studios, with the blockbuster “Twilight Saga” franchise and Oscar winner “The Hurt Locker.” An accomplished producer, his credits include “In the Valley of Elah”; “Step Up,” which launched a $600 million franchise; and “Mr. & Mrs. Smith.”