Lionsgate vice chairman Michael Burns has inked a new employment agreement extending the term of his current contract from October, 2022 to October, 2023.
The company said in an SEC filing Monday that the deal may be further extended at the company’s discretion for an additional year.
Chief executive Jon Feltheimer’s contract was extended in August, making ‘Felt & Burns’ one of the longest running senior management teams in media & entertainment — together since March of 2000.
The new deal expires August 21. When he signed an extension in 2016, it had carried the expiration date of May 22, 2023. And the company’s board now has the ability to extend him either one year, to August 2024, or two years, to August 2025.
Lionsgate has reported three solid quarters in a row with Starz posting rapid growth in global streaming subscribers this year.
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