Wednesday, after the bell, Lions Gate Entertainment Corp. (LGF), a filmed entertainment studio, announced expanding and diversifying its musical collection by adding Grammy winner Lee "Scratch" Perry to its list in a distribution deal with independent record label Narnack Records.
The Vancouver, Canada-based company said the deal launches with Perry's upcoming album REPENTANCE, which is co-produced by rock musician Andrew W.K. and features guest artists Moby, Don Fleming, Chris Stein of Blondie, Brian Chippendale of Lightning Bolt and several other outstanding acts.
Lionsgate generated about $450 million at the North American theatrical box office in the past year and has released a battery of hits.
LGF closed Wednesday's trading at $10.47, up $0.27 or 2.65%, on a volume of 713,419 shares on the NYSE. However, in after-hours trading, the stock shed $0.13 or 1.20%, and was at $10.34.
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