Neither exit is imminent, but both are expected to take place within the next year. Lionsgate had no comment.
Motion Picture Group co-president Feig has been raising money recently to launch a new company focused on youth-oriented projects. It’s also expected that Lionsgate will invest in the new entity.
Wachsberger, the current Motion Picture Group co-chairman, is believed to have been planning to leave Lionsgate for some time and is currently on a one-year extension. The longtime international sales specialist, a native of Belgium, joined Lionsgate in 2012 when the company bought Summit Entertainment for $412 million.
Feig was widely credited with helping make the four “Hunger Games” films a worldwide sensation, with nearly $3 billion in total box office grosses. His recent successes include moderately-priced projects “La La Land,” which made $446 million worldwide, and “Wonder,” which reeled in $270 million worldwide.
The departures come in the wake of Joe Drake becoming Motion Picture Group co-chairman in October. Drake had previously served as Lionsgate chief operating officer and Motion Pictures Group president before co-founding Good Universe in 2012. Drake’s arrival appears to have created something of a logjam among the top film executives at the company.
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Lionsgate just reported earnings that were above Wall Street forecasts with $193 million, or 87 cents a share, for its third quarter ending on Dec. 31, compared with a $30.6 million loss in the same quarter last year. The studio cited strong performances from its motion picture segment and its Starz premium cable network, along with a tax break. It easily beat analyst forecasts of Lionsgate earning 25 cents a share during the latest quarter.
Revenues gained 52% to $1.14 billion — again far above the Wall Street consensus of $1.08 billion.