Lionsgate Expects to Finalize Starz Spin-Off or Sale by End of Summer, CEO Says

Lionsgate Expects to Finalize Starz Spin-Off or Sale by End of Summer, CEO Says
Lionsgate came in below Wall Street expectations for the first three months of the year, but its TV production division again had stellar results and its Starz streaming business kept on growing.

The company previously announced that it would look at spinning off or selling Starz, the premium cable network and streamer it acquired in 2016, as part of reducing debt. Among the suitors are Roku and Apollo Group, which have teamed on a bid to acquire a minority stake in Starz.

On the earnings call Thursday, CEO Jon Feltheimer said Lionsgate is aiming to announce its plan for Starz by the end of this summer and that the company expects a transaction could close as early as the first quarter of calendar year 2023.

“We are engaged in a robust and productive process with our bankers and a number of potential strategic and financial partners,” Feltheimer said, without identifying prospective buyers.
See full article at Variety - Film News »

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