Lionsgate has extended Michael Burns' contract. The company's vice-chairman's new deal extends through 2023. Burns' current pact was set to expire in 2022. Lionsgate can extend his contract at its discretion. The extension will keep one of the longest running executive duos in Hollywood atop the entertainment company for the foreseeable future. Burns and Jon Feltheimer, the company's CEO, have led Lionsgate since 2000. Earlier this year, Lionsgate extended Feltheimer's contract through 2025. Two decades in charge of a media...
Burns leveraged his background in finance into a leadership role alongside CEO Jon Feltheimer in building Lionsgate into a global content player. He spent nearly 20 years in investment banking with Prudential Securities and Shearson/American Express before joining Lionsgate as vice chairman in 2000. Known as a savvy and tenacious dealmaker, Burns helped orchestrate the studio’s numerous acquisitions, including its $412.5 million buyout of Summit Entertainment in 2012 and $4.4 billion purchase of pay-TV group Starz in 2016. Recently, Lionsgate took a majority stake in 3 Arts Entertainment. He was also instrumental in acquiring and distributing Oscar winners “Crash,” “Monster’s Ball” and “Precious.” Earlier, he helped launch digital startups Hollywood Stock Exchange and Novica.