Beeks named prexy of Lionsgate's Movie Group

The combined Lionsgate and Summit is reducing roughly 80 people -- about 12% of their labor force -- on Friday, within 24 hours it named chief operating officer Steve Beeks prexy from the studio's Movie Group and reupped him as COO in new lengthy-term deal. The huge most of the 80 employees from both companies were being informed today. Pink slips were expected included in a continuing integration of Lionsgate, which began the merger about 500 employees, and Summit, which began about 150. A lot of the overlap is at the movie and residential entertainment departments. Combined companies should find yourself with around 575 employees, meaning more exits are anticipated. However, individuals job deficits should come more through attrition than lay offs. A Lionsgate representative rejected to discuss the departures. Beeks continues to be at Lionsgate for 14 many his move and COO since 2007. In the capacity as co-chief operating Officer, Beeks continues to are accountable to Lionsgate leader Jon Feltheimer in the new role in Movies he we'll are accountable to Lionsgate group co-chairs Take advantage of Friedman and Patrick Wachsberger. Beeks will result in corporate procedures and administrative matters for that combined company and can still play a vital role within the company's proper direction. Younger crowd has direct oversight of Lionsgate U.K. and also the company's home theatre procedures, including packed media, worldwide television distribution and digital media initiatives. Inside the Movie group, Beeks will concentrate on business, financial and planning choices for that combined Lionsgate and Summit theatrical slates, including their house entertainment releases. New Movie production prexy Erik Feig will spearhead creative choices and then report straight to Friedman and Wachsberger. "Steve and Erik bring complementary talents to the movie group," stated Friedman and Wachsberger inside a statement. "Steve's financial acumen and business leadership, combined with Erik's creative prowess and incredible eye for films with global appeal, position our shot entertainment procedures for ongoing growth and industry leadership worldwide." Contact the range newsroom at news@variety.com