Lionsgate Buying Starz for $4.4 Billion
Lionsgate will buy Starz for $4.4 billion, the buyer said in a news release Thursday. The deal “significantly increases the combined company's content creation capabilities, enhances its leadership in premium scripted programming and scales its global distribution footprint” across platforms,…
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it said. It's expected to “accelerate the growth of Lionsgate and Starz's own” over-the-top services, said Lionsgate. The combined company will include a 16,000-title film and TV library, 87 original series on 42 U.S. networks, a $7 billion feature film business and “the STARZ platform” reaching 24 million, it said. It "will enable us to compete successfully in today's rapidly evolving global entertainment marketplace," said Lionsgate Chairman Mark Rachesky. The buyer said both companies' boards approved, and shareholders and regulators will be asked for their OK's.