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Rapturepalooza, Gay Dude, and 6 Miranda Drive Among First Films Greenlit Under New Production Initiative

SANTA MONICA, Calif., March 30, 2011 /PRNewswire/ — LIONSGATE® (NYSE: LGF), a leading global entertainment company, announced today the first three films to be produced under its new microbudget production initiative, which is focused exclusively on producing films with budgets of under $2 million.  They are RAPTUREPALOOZA, a post-apocalyptic comedy, GAY DUDE, a coming of age comedy with a twist, and 6 MIRANDA DRIVE, a supernatural thriller.  The announcement was made by Joe Drake, President of the Motion Picture Group at Lionsgate.  

Up to ten films will be produced each year under the microbudget umbrella, which was conceived and structured by Sean Kisker, Lionsgate’s EVP of Strategic Planning and Operations.  Lionsgate’s Matt Kaplan is spearheading implementation and overseeing the productions.

Explains Drake of the impetus for the initiative, “Microbudget films involve minimal overhead and very little risk, but a potentially high reward.  This initiative allows us to add another layer to our slate of movies that work both financially and creatively.”

President of Motion Picture Production and Development Michael Paseornek shares his excitement for the initiative, adding “The productions will function as an incubator for promising new actors and filmmakers.  They will experience the best of both the independent and studio worlds – the freedom to make the movies they envision, but with the infrastructure, support and guidance of our studio behind them.  We expect this arrangement to translate not

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