AceShowbiz - Jon Feltheimer, the longtime leader of Lionsgate, has secured a new contract extension that will keep him at the company through July 31, 2031. This update was revealed in a recent SEC filing, where Lionsgate’s compensation committee approved the terms of his latest employment agreement. Previously, his contract was set to run until 2029 following a 2024 deal.

Feltheimer has held the CEO position since March 2000, working alongside vice chairman Michael Burns. His salary remains steady at $1.5 million, a figure that has remained unchanged for the last decade. Additionally, the contract guarantees him stock options priced between $17 and $22 per share, as part of a broader management incentive package.

Despite some challenging releases in recent years, including the underwhelming reboot of The Crow, Francis Ford Coppola’s passion project Megalopolis, the John Wick spin-off Ballerina, and a disappointing new trilogy of Strangers films, Lionsgate appears to be regaining momentum.

The studio experienced a surprise hit in December with The Housemaid, which grossed nearly $400 million against a $35 million budget. A sequel to this successful film is already being fast-tracked. Earlier this year, Lionsgate produced War Machine, which became one of the season’s most popular Netflix original films.

Looking ahead, Lionsgate has several projects lined up. These include the Michael Jackson biopic Michael (a co-production with Universal Pictures and GK Films), the musical comedy Power Ballad, the sequel Fall 2, and a new Hunger Games prequel titled Sunrise on the Reaping.

On the television front, Lionsgate is developing new seasons of The Studio and The Hunting Wives. Despite its strong portfolio of franchises such as John Wick, The Hunger Games, Twilight, and Rambo, the Santa Monica-based studio has not yet attracted any acquisition offers.

Investor confidence seems to be growing, as the company’s stock recently hit a 52-week high, trading above $11 during midday trading on Wednesday.