Lionsgate has sealed an agreement to acquire premium cabler Starz in a $4.4 billion cash and stock deal.
The deal had been expected. The two companies have flirted with a merger on and off for more than a year. The two were united in a corporate marriage early last year by investor John Malone, the majority shareholder in Starz who also acquired a stake in Lionsgate last year. Malone’s stake in Lionsgate will grow considerably through the Starz acquisition pact as he will receive voting and non-voting Lionsgate shares in exchange for his preferred Starz Class B stock.
Lionsgate said the deal in total values Starz shares at $32.73, an 18% premium over the 20-day average trading price for Starz as of June 28. Starz shares have been on the rise for the past few months as acquisition rumors heated up.
“This transaction unites two companies with strong brands, complementary assets and leading positions within our industry,” said...
The deal had been expected. The two companies have flirted with a merger on and off for more than a year. The two were united in a corporate marriage early last year by investor John Malone, the majority shareholder in Starz who also acquired a stake in Lionsgate last year. Malone’s stake in Lionsgate will grow considerably through the Starz acquisition pact as he will receive voting and non-voting Lionsgate shares in exchange for his preferred Starz Class B stock.
Lionsgate said the deal in total values Starz shares at $32.73, an 18% premium over the 20-day average trading price for Starz as of June 28. Starz shares have been on the rise for the past few months as acquisition rumors heated up.
“This transaction unites two companies with strong brands, complementary assets and leading positions within our industry,” said...
- 6/30/2016
- by Cynthia Littleton
- Variety - TV News
Similar News
‘Dr. Death’ & ‘New Amsterdam’ Talent Added To SeriesFest As Denver Event Sets Panel Lineup
- 3/28/2024
- by Peter White
- Deadline Film + TV
‘Power’ Spinoff ‘Raising Kanan’ Renewed for Season 5
- 3/27/2024
- by Lesley Goldberg
- The Hollywood Reporter - Movie News
Hulu on Disney+ Now Available for Bundle Subscribers — What Changes Were Made and How Much Will It Cost?
- 3/27/2024
- by Nick Caruso
- TVLine.com
Lionsgate Vice Chair On CEO’s Recent Stock Purchase – “I Swear He Bought It Because He Went To The Set” Of Michael Jackson Biopic
- 3/12/2024
- by Jill Goldsmith
- Deadline Film + TV
Lionsgate Stock Rises on Stock Upgrade Ahead of Planned Studio Spinoff
- 3/11/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Robert Downey Jr. Rocks a Bucket Hat and Leonardo DiCaprio Goes Incognito at Frieze L.A. as Art Sales Are Brisk
- 3/1/2024
- by Hadley Meares
- The Hollywood Reporter - Movie News
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.
More to explore
‘Homeland’ Reunion: Claire Danes to Star in Netflix Drama From Howard Gordon
- 3/28/2024
- by Lesley Goldberg
- The Hollywood Reporter - Movie News
‘War Machine’: Alan Ritchson To Star In Sci-Fi Actioner For Lionsgate & Netflix
- 3/28/2024
- by Ned Booth
- The Playlist
‘Winnie-the-Pooh: Blood and Honey 3’ Confirmed (Exclusive)
- 3/28/2024
- by Alex Ritman
- Variety - Film News
Ariana DeBose Returns to Host 2024 Tony Awards
- 3/27/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
‘Warfare’: Will Poulter, Cosmo Jarvis & More Join Alex Garland & Ray Mendoza’s Upcoming War Movie
- 3/28/2024
- by Ned Booth
- The Playlist
Christopher Nolan, Emma Thomas Set to Receive British Knighthood and Damehood
- 3/28/2024
- by Christy Piña
- The Hollywood Reporter - Movie News
Ramy Youssef Spied Working SNL Monologue at NYC’s Comedy Cellar
- 3/28/2024
- by Jed Rosenzweig
- LateNighter
All Six ‘RHONY’ Reboot Cast Members Will Return for Season 15 — Yes, That Includes Jenna Lyons
- 3/28/2024
- by Kate Aurthur
- Variety - TV News
Melissa Barrera on Getting Fired From ‘Scream’ and the Controversy That Followed
- 3/28/2024
- by Ryan Gajewski
- The Hollywood Reporter - Movie News
Austin Butler to Lead Darren Aronofsky’s ‘Caught Stealing’ at Sony
- 3/27/2024
- by Katcy Stephan
- Variety Film + TV
Justin Simien, Christopher Yost Team for Sci-Fi Caper ‘Heist: Or, How to Steal a Planet’ (Exclusive)
- 3/28/2024
- by Borys Kit
- The Hollywood Reporter - Movie News
‘The Monkey’: Stephen King Adaptation With Theo James Is Also Starring Tatiana Maslany, Elijah Wood, Christian Convery, Colin O’Brien, Rohan Campbell & Sarah Levy; Filming Wraps
- 3/28/2024
- by Andreas Wiseman
- Deadline Film + TV
Vertical Buys David Duchovny’s ‘Bucky F*cking Dent,’ Dramedy Set During the 1978 Red Sox-Yankees Pennant Race (Exclusive)
- 3/28/2024
- by Brent Lang
- Variety Film + TV
Diane Guerrero, Juan Pablo Raba to Lead Horror Film ‘The Whistler’ (Exclusive)
- 3/28/2024
- by K.J. Yossman
- Variety - Film News
‘Final Destination: Bloodlines’ Finds Cast with Brec Bassinger, Teo Briones, Kaitlyn Santa Juana (Exclusive)
- 3/28/2024
- by Borys Kit
- The Hollywood Reporter - Movie News
‘War Machine’: Alan Ritchson To Star In Sci-Fi Actioner For Lionsgate & Netflix
- 3/28/2024
- by Ned Booth
- The Playlist
‘Winnie-the-Pooh: Blood and Honey 3’ Confirmed (Exclusive)
- 3/28/2024
- by Alex Ritman
- Variety - Film News
Austin Butler to Lead Darren Aronofsky’s ‘Caught Stealing’ at Sony
- 3/27/2024
- by Katcy Stephan
- Variety Film + TV
‘Final Destination: Bloodlines’ Finds Cast with Brec Bassinger, Teo Briones, Kaitlyn Santa Juana (Exclusive)
- 3/28/2024
- by Borys Kit
- The Hollywood Reporter - Movie News
‘Warfare’: Will Poulter, Cosmo Jarvis & More Join Alex Garland & Ray Mendoza’s Upcoming War Movie
- 3/28/2024
- by Ned Booth
- The Playlist
‘Heartstopper’ Heartbreaker: Olivia Colman Won’t Return for Season 3
- 3/28/2024
- by Lesley Goldberg
- The Hollywood Reporter - Movie News
‘Homeland’ Reunion: Claire Danes to Star in Netflix Drama From Howard Gordon
- 3/28/2024
- by Lesley Goldberg
- The Hollywood Reporter - Movie News
All Six ‘RHONY’ Reboot Cast Members Will Return for Season 15 — Yes, That Includes Jenna Lyons
- 3/28/2024
- by Kate Aurthur
- Variety - TV News
Netflix Medical Procedural ‘Pulse’ Adds Five to Cast
- 3/28/2024
- by Joe Otterson
- Variety - TV News
‘Property Virgins’: New Host Wendy Wolfe Gets Personal & Reveals How Show Will Be Different
- 3/29/2024
- TV Insider