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Lions Gate buys majority stake in talent management, production company

Lions Gate Entertainment Corp. acquired a majority stake in talent management and production company 3 Arts Entertainment Inc.

The transaction, which is effective immediately, "creates a uniquely competitive platform combining a global distribution infrastructure, deep production expertise and prolific talent relationships," the companies said May 30. The production company will continue to operate under the leadership of its partners with an operating board.

The TV production slate of 3 Arts includes series "It's Always Sunny in Philadelphia," "Man With A Plan," "30 Rock," "King of the Hill," "The Office" and "Parks and Recreation." It also has produced movies such as "The Edge of Tomorrow," "Unbroken," "Constantine" and "Devil's Advocate."

Lions Gate was represented by Robert Haymer of Latham & Watkins LLP, while 3 Arts was advised by investment bank Moelis & Co. LLC, Alan Epstein at Venable LLP and Craig Jacobson at Hansen Jacobson.