Lionsgate promotes Beeks to chief operating officer
Executive keeps president title
By Jennifer Netherby -- Video Business, 6/20/2007
JUNE 20 | Lionsgate signed president Steve Beeks to a new long-term contract and expanded his role to chief operating officer, the company said Wednesday.
Beeks
With this deal, Lionsgate’s top execs are all signed to contracts lasting through 2010, a sign of continued stability, the company said.
“Steve's promotion and new title reflect the role he is already playing in helping me manage Lionsgate's day-to-day operations as well as leading our home entertainment, library and digital initiatives,” CEO Jon Feltheimer said. “He has shown the ideal combination of strategic vision and superb tactical execution essential to our continued growth and success.”
Since being named president of Lionsgate three years ago, Beeks, a longtime home video exec, has grown the indie studio’s home entertainment business to a record $530 million in annual revenue and increased its market share to nearly 6%. In its most recent earnings call, the company reported record library revenue of $256 million for fiscal 2007.
The company has pushed into digital delivery under Beeks’ direction, signing deals with Apple iTunes, Microsoft Xbox, Wal-Mart, Best Buy and other digital services.
In his expanded role, Beeks will be responsible for helping to develop and carry out the company’s international expansion and identifying acquisitions, strategic ventures and other growth initiatives.
Beeks was named president of Lionsgate three years ago, shortly after it merged with Artisan Entertainment, where he was president of home entertainment.
Before Artisan, Beeks started Hallmark Home Entertainment in 1994 for the Hallmark Card Company. From 1986 to 1994, he held VP positions with entertainment investment firm The Paragon Group and Republic Pictures Corps’ home entertainment group.
