Benzinga | Feb 26, 2021 12:52PM EST

Sony Pictures Forms Multi-Year Partnership With Lions Gate Over Home Entertainment Distribution

* Sony Corp (NYSE: SNE)-owned Sony Pictures Home Entertainment inked a multi-year distribution agreement with Lions Gate Entertainment Corp's (NYSE: LGF-B) to handle physical home entertainment releases in the U.S. and Canada.

* Lions Gate will continue to maintain its independent sales and marketing teams while leveraging Sony Pictures' supply chain and distribution services.

* "By working together, we can identify and leverage efficiencies in the supply chain that will benefit not only our respective studios, but also retailers, and ultimately, the millions of consumers who enjoy Sony Pictures and Lionsgate feature films and TV programs in the 4K UHD, Blu-ray and DVD formats," said Sony Pictures EVP Jason Spivak.

* "This collaboration makes both our businesses even stronger, and our new agreement enhances our ability to serve the retail community and consumers with innovation, adaptability, and strong content slates in the years to come," said Lions Gate Motion President Ron Schwartz.

* Sony Pictures will begin to distribute Lionsgate physical home entertainment properties in July.

* Price action: SNE stock was down 0.78% at $106.24 on the last check Friday, LGF.B shares were up 0.04% at $12.44.