Overview
- Lionsgate named former U.S. Treasury Secretary Steven Mnuchin to its board of directors effective immediately.
- A regulatory filing shows Mnuchin holds roughly a 13 percent stake in Lionsgate Studios through Liberty-affiliated funds.
- Liberty 77 Capital and Mark Rachesky’s MHR Fund Management entered a standstill and voting agreement that limits ownership above 17.5 percent and bars unsolicited proposals, proxy contests, and group formations.
- Board chair Mark Rachesky praised Mnuchin’s experience and said his interests are aligned with shareholders as the company seeks to build value.
- Mnuchin cited Lionsgate’s momentum and said he aims to support disciplined execution, drawing on his finance and entertainment background, including co-financing Avatar and leading Liberty Strategic Capital.