Treated like royalty…

July 23, 2004

Why did Lions Gate Entertainment (LGF) take nearly two years to disclose to investors that it had entered into a “first look agreement” with a company run by its Vice Chairman, Mark Amin? In the company’s recent proxy, Lions Gate disclosed the agreement for the first time and said it had paid Amin’s company, Sobini Films, $9.1 million for international distribution rights for the forgettable flop The Prince & Me about a Wisconssin farm girl who falls in love with a Danish prince. The movie, which starred Julia Stiles, was co-written by Amin, and released in theaters in early April. Film critics, including Entertainment Weekly, called the film “a royal flop” and the film quickly disappeared from theaters, after grossing around $28 million. It’s not clear from the proxy how much additional money Lions Gate will be paying Amin, whose salary was $500,000 last year, for future projects, though the Sobini Films web page lists several upcoming projects.

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