Three Lions Entertainment is facing bankruptcy, according to a report in The New York Post. Its financial woes are related to a $2.45 million lawsuit brought against it by the CBS television network.
Things are so bad for Richard Beckman’s company that its website now has only one link on its main page which says simply, “Creditors Click Here.” Three Lions is also owned by Joel Katz, a partner in the international law firm Greenberg Traurig.
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The lawsuit centers on a September 9th broadcast on the CBS network of a Three Lions produced special called “Fashion Rocks.” That special, which was filmed at Brooklyn’s Barclays Center, featured Justin Bieber, Ryan Seacrest and Jennifer Lopez.
CBS says that this is a simple case of breach of contract. The network asserts that Three Lions never paid it the $2.45 million fee for renting its air time the night that the special aired.
“Three Lions has not disputed the fact that the Contract Payment is due under the Network Television Agreement, ” the complaint reads. “To the contrary, during a telephone conversation with Richard Beckman of Three Lions on October 21, 2014, in which CBS demanded payment, Three Lions informed CBS that its financial situation prevents it from being able to pay the amount due and that Three Lions is ‘insolvent.’ “
“These ‘lions’ have shown themselves to be cowardly in the extreme when it comes to honoring contractual obligations, ” reads the complaint.
Three Lions has not been around for that long anyway. It was founded in March 2013 by former Prometheus Global Media and Hollywood Reporter boss Richard Beckman, billionaire Ron Burkle and Joel Katz.
