Beeks named prexy of Lionsgate's Movie Group

The combined Lionsgate and Summit is reducing roughly 80 people -- about 12% of the work force -- on Friday, within 24 hrs it named chief operating officer Steve Beeks prexy in the studio's Movie Group and reupped him as COO in new extended-term deal. The large the majority of the 80 employees from both companies were being informed today. Pink slips were expected incorporated inside a ongoing integration of Lionsgate, which started the merger about 500 employees, and Summit, which started about 150. Many of the overlap reaches the film and residential entertainment departments. Combined companies should end up with around 575 employees, meaning more exits are anticipated. However, people job deficits should come more through attrition than lay offs. A Lionsgate representative declined to go over the departures. Beeks remains at Lionsgate for 14 many his move and COO since 2007. Within the capacity as co-chief operating Officer, Beeks is constantly on the account to Lionsgate leader Jon Feltheimer within the new role in Movies he we'll account to Lionsgate group co-chairs Make the most of Friedman and Patrick Wachsberger. Beeks can lead to corporate methods and administrative matters for your combined company and may still play an important role inside the company's proper direction. More youthful crowd has direct oversight of Lionsgate U.K. as well as the company's home cinema methods, including packed media, worldwide television distribution and digital media initiatives. Within the Movie group, Beeks will focus on business, financial and planning options for your combined Lionsgate and Summit theatrical slates, including their property entertainment releases. New Movie production prexy Erik Feig will spearhead creative options after which report right to Friedman and Wachsberger. "Steve and Erik bring complementary talents towards the movie group," mentioned Friedman and Wachsberger in the statement. "Steve's financial acumen and business leadership, coupled with Erik's creative prowess and incredible eye for films with global appeal, position our shot entertainment methods for ongoing growth and industry leadership worldwide." Contact the number newsroom at news@variety.com