Lionsgate has bought the popular premium cable network Starz for a whooping $4.4 billion in cash and stock. Starz is the home to popular TV series; POWER, Survivor’s Remorse and Outlander.
And while we still on this ; don’t forget POWER Season 3 premieres this month (17 July) and Survivor’s Remorse will premiere on 24 July.
“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.
This will see Lionsgate own a collection of 17 Starz and Encore branded premium channels and the Anchor Bay Entertainment home video banner.