Lionsgate suffers massive quarterly losses as big-budget bombs like 'Borderlands' and 'The Crow' tank at the box office, forcing CEO Jon Feltheimer to acknowledge a 'transitional, disrupted and difficult year' for the industry.
beat sheet
Lionsgate reported a staggering $163.3 million loss, citing underperformance of high-profile flops like 'Borderlands' and 'The Crow' - a sign of the studio's struggles in a volatile market.
CEO Jon Feltheimer wasted no time in calling out the 'transitional, disrupted and difficult year' the industry is facing, hinting at broader challenges beyond just Lionsgate's woes.