×

Lionsgate, Starz Close $4.4 Billion Acquisition

Lionsgate has completed its acquisition of Starz for approximately $4.4 billion in cash and stock. The merger had been announced at the end of June, after a lengthy courtship period and the helping hand of investor John Malone, the majority shareholder in Starz who also acquired a stake in Lionsgate in 2015. Starz will become a wholly owned subsidiary of Lionsgate. Chris Albrecht will continue to serve as president and CEO of Starz, reporting to Lionsgate CEO Jon Feltheimer, and will also join Lionsgate’s executive management committee.

The acquisition was approved by 98% of the votes cast by Lionsgate shareholders and 95% of the votes cast by Starz shareholders, in person or represented by proxy, not including abstentions, at the companies’ respective shareholder meetings on Dec. 7. All necessary regulatory approvals have been obtained and all conditions to the closing have been satisfied.

Holders of Starz Series A common stock are receiving $18.00 in cash as well as 0.6784 shares of Lionsgate Class B non-voting stock. Holders of Starz Series B common stock are receiving $7.26 in cash, 0.6321 shares of Lionsgate Class A voting stock, and 0.6321 shares of Lionsgate Class B non-voting stock. Previously existing Lionsgate common shares and Starz common shares will no longer be listed on the NYSE and NASDAQ, respectively, effective Dec. 9.

“After planning the integration of Lionsgate and Starz for the past five months, we are more excited than ever at the value created by the combination of our two great companies,” said Feltheimer and Vice Chairman Michael Burns. “Chris and his team have built Starz into a strong brand, a world-class distribution platform and a premium programming leader, and we’re delighted to welcome them to the Lionsgate family.”

Premium cabler Starz, the home of “Outlander” and the forthcoming Bryan Fuller series “American Gods,” currently has around 25 million subscribers — 31 million, if you factor in Starz-owned premium pay channels like Encore. In addition to producing shows like “Orange Is the New Black,” Lionsgate has a library of 16,000 movies and shows. On the film side, Lionsgate produced “The Hunger Games,” “John Wick,” and current awards circle favorite “La La Land.”

More Biz

  • The dark Manhatten skyline, seen from

    StubHub Refunds $500,000 to Customers Shut Out by New York Blackout

    Saturday’s blackout in New York had an outsized effect on the city’s nightlife, with Madison Square Garden and the entire Broadway district seeing multiple shows cancelled due to the the power outage. As a result, StubHub has refunded more than $500,000 worth of tickets for cancelled events. According to a statement from the company, the StubHub [...]

  • Weapons Cache

    D.A. Files 64 Charges in Bel-Air Weapons Stockpile Case

    The L.A. County District Attorney’s office has filed 64 counts against Girard Saenz, the man who allegedly kept a stockpile of more than 1,000 weapons at a Bel-Air home linked to the Getty family. Saenz is accused of illegal possession of assault weapons, transferring handguns without a dealer license, possession of short-barreled shotguns, and possession [...]

  • 9-1-1: Angela Bassett in the series

    Fox Sees Primetime, Sports Ad Gains As TV Upfront Wraps

    Fox Corporation is the latest to benefit from stronger-than-expected trends in TV ad spending, as the company notched strong gains in advertising commitments for its next cycle of programming – its first since selling off a large chunk of its media assets to Walt Disney. Ad demand was stronger than many executives anticipated, according to [...]

  • BMI Promotes David Levin to Senior

    BMI Promotes David Levin to Senior VP of Digital Licensing

    BMI today announced that David Levin has been promoted to Senior Vice President of Licensing, effective immediately. In his newly expanded role, Levin is responsible for all of BMI’s domestic licensing and revenue generation, encompassing radio, television, digital media, cable, satellite and general licensing.  Levin, who will oversee teams in New York and Nashville, reports [...]

  • Warner Music Group Logo

    Warner Music Acquires Musical Theater Indie First Night Records

    Warner Music Group has acquired First Night Record, an independent record label for West End and Broadway musical theatre cast recordings. The company will be overseen by WMG’s Arts Music Division, led by President Kevin Gore. First Night co-founder John Craig will join the Arts Music team under a multi-year consulting agreement to identify and record musical theatre productions in [...]

  • Woodstock 50 to Hold Open House

    Woodstock 50 to Hold Open House for Local Residents Before Permit Review Tuesday

    If nothing else, the producers of Woodstock 50 are persistent. After two permit applications to hold the troubled festival at the Vernon Downs racetrack in Upstate New York were rejected by the town of Vernon codes office, the producers and venue owner Jeffrey Gural today invited the local community “to embrace the Festival’s spirit of [...]

  • ILM Star Wars The Force Awakens

    ILM to Open Latest Effects Facility in Sydney, Australia

    Sydney, Australia, is to be home to Industrial Light & Magic’s fifth production hub. The Disney-owned special effects company currently has facilities in San Francisco, Vancouver, London and Singapore. The decision to open the Sydney outpost was announced Monday local time by executive creative director and head of ILM Rob Bredow, ILM executive Luke Hetherington, [...]

More From Our Brands

Access exclusive content