Business Context and Reporting Period
This Form 8-K is filed by Lions Gate Entertainment Corp. (noted as STARZ ENTERTAINMENT CORP in metadata) on August 8, 2007. The report covers two primary events: the amendment of a material credit agreement on August 8, 2007, and the announcement of financial results for the quarter ended June 30, 2007 (referred to in the text as the first quarter of 2008).
Key Financial Metrics
- Free Cash Flow: Approximately negative $82.3 million for the quarter ended June 30, 2007.
- Net Cash Flows Used in Operating Activities: Approximately $80.3 million for the quarter ended June 30, 2007.
- Debt and Liquidity: The company amended its credit agreement with JP Morgan Chase Bank and other lenders. Specific debt balances or liquidity ratios are not provided in this filing text.
- Revenue and Profit: The filing text does not provide specific values for revenue, net income, or profit margins; it only references a press release (Exhibit 99.1) containing these details.
Material Changes and Agreements
On August 8, 2007, the Company and its subsidiary, Lions Gate Entertainment Inc., entered into Amendment No. 10 to their Amended and Restated Credit, Security, Guaranty and Pledge Agreement. This amendment involves JP Morgan Chase Bank, National Association, and other existing lenders. The filing does not detail the specific financial terms or changes resulting from this amendment.
Guidance, Outlook, and Risks
The filing references a press release issued on August 9, 2007, regarding results of operations but does not contain specific forward-looking guidance, management commentary, or risk factors within the text provided. The company notes that Free Cash Flow is a non-GAAP measure and may not be comparable to similarly titled measures used by other companies.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for detailed revenue, profit, and margin figures not included in this summary.
- Examine Exhibit 10.39 to understand the specific terms and financial impact of the credit agreement amendment.
- Verify the reconciliation of Free Cash Flow to Net Cash Flows from Operating Activities as detailed in the referenced press release.
- Confirm the discrepancy in the metadata company name (STARZ ENTERTAINMENT CORP) versus the registrant name in the filing (Lions Gate Entertainment Corp.).