Lionsgate Closes Starz Acquisition

SANTA MONICA: Having cleared all necessary regulatory approvals, Lionsgate has officially closed on its deal to acquire Starz for approximately $4.4 billion in cash and stock.

The acquisition was approved by 98 percent of the votes cast by Lionsgate shareholders and 95 percent of the votes cast by Starz shareholders. Lionsgate will operate Starz as a wholly owned subsidiary. 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.

Moving forward, Starz’s home-entertainment and TV distribution operations are being consolidated into Lionsgate’s worldwide home-entertainment and television distribution businesses, respectively.

“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. Working together, we believe that the strategic opportunities are enormous, and we’re pleased that our shareholders recognize the transformative potential of the transaction.”

“Lionsgate and Starz have a shared vision—to make incredible content for audiences across the world and capitalize on technology and innovation to distribute that content across multiple platforms and devices,” said Albrecht. “There is no better time to be in this business and no better company to be a part of. I am thrilled to join Jon, Michael and the rest of the Lionsgate team in growing our combined company into a global content powerhouse.”