Sir Lucian Grainge got a new job this week.
Don’t worry, he’s still very much CEO and Chairman of Universal Music Group worldwide – as you’d expect, having signed a five-year contract extension just last year.
But yesterday he was approved by the board of Lionsgate to become its newest director.
Grainge is believed to have made efforts to strengthen relationships between Universal and other leading entertainment companies in Hollywood in recent years.
Lionsgate is best known worldwide for its movies and TV programmes, releasing over 40 feature films each year.
Its recent TV properties have included Nashville, Anger Management, The Dead Zone, Five Days to Midnight, Weeds, Nurse Jackie, Boss, Tyler Perry’s House of Payne and the Emmy Award-winning Mad Men.
Its movies have grossed more than $7 billion at the global box office over the past four years.
In the 12 months to end of March, Lionsgate posted revenues of $2.35 billion, with a net profit of $42.7m.
The news of Grainge’s appointment was announced at the Shangri-La Hotel in Toronto on Tuesday (Sept 13), as part of a shareholders meeting hosted by Lionsgate Chairman Jon Feltheimer.
Lionsgate shareholders also approved the board nominations of Mike Fries, the CEO of Liberty Global, and David Zaslav, the CEO of Discovery.
Music Business Worldwide