Lionsgate swung back into profitable terrain during its most recent fiscal quarter, another sign that the pandemic’s cloud is beginning to lift. But the company also announced that it could soon be slimmed down as it hopes to capitalize on the wave of consolidation in the media space, one that has already seen Amazon agree to buy Metro-Goldwyn-Meyer, Discovery announce plans to merge with WarnerMedia and Disney purchase much of 21st Century Fox.
To that end, Lionsgate announced that its board of directors has given the greenlight to its management team to explore spinning off or selling its Starz division. The company Lionsgate spent $4.4 billion to buy Starz in 2016, a move that expanded its television operations, but one that also added to its debt load.
“While we continue to realize substantial synergies from bringing Lionsgate and Starz together, we also see the opportunity to potentially unlock significant shareholder value...
To that end, Lionsgate announced that its board of directors has given the greenlight to its management team to explore spinning off or selling its Starz division. The company Lionsgate spent $4.4 billion to buy Starz in 2016, a move that expanded its television operations, but one that also added to its debt load.
“While we continue to realize substantial synergies from bringing Lionsgate and Starz together, we also see the opportunity to potentially unlock significant shareholder value...
- 11/4/2021
- by Brent Lang
- Variety Film + TV
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