This week, Lionsgate bought premium cable network Starz for $4.4 billion in cash and stock. Starz currently boasts buzzy shows like Power, Survivor’s Remorse and Outlander.
“This transaction unites two companies with strong brands, complementary assets and leading positions within our industry. We expect the acquisition to be highly accretive, generate significant synergies and create a whole that is greater than the sum of its parts. (Starz CEO) Chris Albrecht and his team have built a world-class platform and programming leader, and we’re proud to marshal our resources in a deal that accelerates our growth and diversification, generates exciting new strategic content opportunities and creates significant value for our shareholders,” Lionsgate CEO Jon Feltheimer and vice chairman Michael Burns said in a statement.
Thanks to the deal, Lionsgate will now own a collection of 17 Starz and Encore branded premium channels and the Anchor Bay Entertainment home video banner. Lionsgate’s most successful releases were The Hunger Games and Divergent franchises. The studio is also had a deal with Tyler Perry and released all of his films from 2005 to 2014. The latest season of Power airs July 17 and Survivor’s Remorse will return on July 24.
