Lionsgate made the announcement Thursday morning before the opening of the stock market. Feltheimer, 65, and Vice Chairman Michael Burns have been in charge of Lionsgate for the past 16 years.
Lionsgate’s board took a similar step in 2013 when Feltheimer was given a five-year deal to 2018.
The announcement comes three and a half months after Lionsgate announced a $4.4 billion deal to acquire premium cabler Starz, which is expected to close by the end of the year. The acquisition has been touted by Feltheimer as doubling Lionsgate’s scale — giving the combined entity more leverage to compete with corporate behemoths such as Disney and improving its ability to exploit fast-growing digital media platforms.
“We are pleased to extend Jon’s tenure as CEO until 2023, providing Lionsgate with great continuity as he and