Tyler Perry is closing down his Los Angeles office of 34th Street films after Lionsgate ends the deal with the creator of Madea.
Lionsgate has chosen not to renew their deal with Tyler Perry. Lionsgate started a business relationship with Perry in 2005 with the release of Diary of a Mad Black Woman. Tyler Perry wrote, produced and starred in the series as his popular Madea character. The agreement with Tyler Perry and his 34th Street Films was a first-look agreement, allowing Lionsgate the option to distribute any Tyler Perry production before anyone else and paying Perry a percentage of total sales for the development of the project.
According to the Hollywood Reporter, Tyler Perry will be closing his Los Angeles office of 34th Street and consolidating the Atlanta, Georgia headquarters. So, it is expected that several employees of Mr. Perry will be losing their jobs.
Tyler Perry still has the upcoming Lionsgate and 34th Street production, Single Moms Club, to premiere on March 14th.
The 34th Street production company was created in 2008 with the aim of producing and creating projects for Tyler Perry. But, since the company’s start very few films were produced under 34th Street excluding, For Colored Girls. A majority of his projects were produced through his Atlanta based Tyler Perry Company.
His last feature film, Tyler Perry’s Madea’s Christmas made about $52 million dollars domestically. But, Tyler Perry may not be worried. He is expected to have several shows appear on Oprah’s OWN Network including ‘The Haves and The Have Nots’, ‘Love Thy Neighbor’, and a new ‘Tyler Perry’ Talk Show.