Lions Gate Entertainment and Trimark Holdings have closed a $50-million deal that turns Trimark into a wholly owned subsidiary of Lions Gate.

‘In anticipation of this closing, we have already integrated our systems and personnel and effected cost savings, and we are ready to hit the ground running,’ said Lions Gate ceo Jon Feltheimer.

Upon completion of the transaction (announced Oct. 13) that entitles Trimark shareholders to 2.018 shares of Lions Gate common stock plus us$4.50 in cash for each Trimark common stock, Feltheimer announced the addition of four new members to its board of directors.

The new board members include: Trimark founder, chairman and ceo Mark Amin; Drew Craig, president of Craig Broadcasting Alberta and Craig Broadcasting Systems; Joe Houssian, president, chairman and ceo of Intrawest Corp., one of the largest resort developers and operators in North America; and Patrick Lavelle, chairman and director of Canadian commercial financial institution Export Development Corp. *

-www.lionsgate-ent.com