Lionsgate management is considering spinning off premium cable channel Starz into a separate company, Variety has confirmed.
Lionsgate had no comment on the possible move, first reported Tuesday by the Wall Street Journal, citing unnamed people familiar with the matter. The WSJ report also said “no final decisions” have been made.
Sources have indicated that a Starz spin-off is one of several strategic options under review — though no action is expected imminently. Another step being explored is the creation of a special-purpose acquisition company, which could lead to a public offering and with part of Lionsgate’s $2.9 billion in debt to the new company.
Lionsgate bought Starz for $4.4 billion in 2016. Starz was without a CEO for more than six months this year following the departure of Chris Albrecht in March. Starz promoted chief operating officer Jeffrey Hirsch to the CEO slot last week.
Lionsgate executives are exploring how they can...
Lionsgate had no comment on the possible move, first reported Tuesday by the Wall Street Journal, citing unnamed people familiar with the matter. The WSJ report also said “no final decisions” have been made.
Sources have indicated that a Starz spin-off is one of several strategic options under review — though no action is expected imminently. Another step being explored is the creation of a special-purpose acquisition company, which could lead to a public offering and with part of Lionsgate’s $2.9 billion in debt to the new company.
Lionsgate bought Starz for $4.4 billion in 2016. Starz was without a CEO for more than six months this year following the departure of Chris Albrecht in March. Starz promoted chief operating officer Jeffrey Hirsch to the CEO slot last week.
Lionsgate executives are exploring how they can...
- 10/9/2019
- by Dave McNary
- Variety Film + TV
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