While MGM is fading away and Miramax is retooling as an indie again, there is one indie player who is quietly building what they hope will be the next major mini in the world... Lions Gate.
The stock is going crazy because people are seeing the company, the one really big indie left on the board, as a takeover target. But Jon Feltheimer & Co. are behaving more like predators than prey. In the last week, they announced an aggressive plan to get further into the doc business, announced plans to raise over $125 million, and played the unexpectedly gruff John Travolta card in the Oscar race.
They also have the stability of a film library of over 6000 titles, which they add to by dozens every year.
The danger and the opportunity for this company is divining the next step. Do you spend more to make bigger hits? Do you lie in wait for a next Blair Witch? Do you remain happy to groove in an 8% return every year?
Of course, in a tight film biz world, these are great worries to have.