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The mini-studio on Wednesday said the duo have “renewed” their long-term agreements and will continue overseeing domestic and international feature film acquisition, production and distribution.
Friedman and Wachsberger came to Lionsgate three years ago when Summit Entertainment, where they served as co-chairmen, was acquired by Lionsgate. Their motion picture group has since grossed more than $1 billion at the international box office for three straight years on the strength of movie franchises like The Hunger Games, Divergent and Now You See Me.
“Rob and Patrick’s complementary skills are invaluable in growing our motion picture operations worldwide, and their experience, expertise and relationships will continue to play an integral role in moving our business forward,” Lionsgate CEO Jon Feltheimer and vice chairman Michael Burns said in a statement.
The Hunger Games franchise alone has to date grossed more than $2.2 billion at the worldwide box office. The Divergent franchise launched to nearly $300 million at the global box office, and has three sequels set for release, starting with Insurgent bowing on March 20.
“Jon and Michael have created a dynamic and entrepreneurial culture in which to continue growing Lionsgate’s film business, and we’re fortunate to be supported by an extraordinary group of production, acquisition, marketing and distribution executives,” said Friedman and Wachsberger in their own statement.
Before joining Lionsgate, Friedman and Wachsberger at Summit launched The Twilight Saga franchise, which eventually grossed more than $3.3 billion at the worldwide box office.
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