Film and TV studio Lionsgate is buying cable channel operator Starz in a deal worth $4.4 billion.
Lionsgate is the company behind "The Hunger Games" movies and the "Orange Is The New Black" TV series. Englewood, Colorado-based Starz runs its namesake cable channel, as well as Starz Encore and MoviePlex. Together, Lionsgate said it can tap its library of movies and TV shows and air them through Starz's channels.
The deal is expected to close by the end of the year.
Lionsgate said Thursday that it will pay holders of Starz Series A stock $18 in cash and 0.6784 of a Lionsgate share. Starz Series B stockholders will receive $7.26 in cash and 1.2642 of Lionsgate stock.
Santa Monica, California-based Lionsgate is not new to the cable business, owning stakes in the Epix and Pop channels. Starz, besides its channels, also owns Anchor Bay Entertainment, which distributes movies on DVDs.
Shares of Lionsgate Entertainment Corp. fell 38 cents, or 1.8 percent, to $20.56 in afternoon trading Thursday. Starz's Series A stock rose $2.24, or 7.9 percent, to $30.49. Starz Series B Stock rose $3.55, or 12.7 percent, to $31.52.
After 20 Years of Acting, Megan Park Finds Her Groove In The Director’s Chair On “My Old Ass”
Megan Park feels a little bad that her movie is making so many people cry. It's not just a single tear either — more like full body sobs.
She didn't set out to make a tearjerker with "My Old Ass," now streaming on Prime Video. She just wanted to tell a story about a young woman in conversation with her older self. The film is quite funny (the dialogue between 18-year-old and almost 40-year-old Elliott happens because of a mushroom trip that includes a Justin Bieber cover), but it packs an emotional punch, too.
Writing, Park said, is often her way of working through things. When she put pen to paper on "My Old Ass," she was a new mom and staying in her childhood bedroom during the pandemic. One night, she and her whole nuclear family slept under the same roof. She didn't know it then, but it would be the last time, and she started wondering what it would be like to have known that.
In the film, older Elliott ( Aubrey Plaza ) advises younger Elliott ( Maisy Stella ) to not be so eager to leave her provincial town, her younger brothers and her parents and to slow down and appreciate things as they are. She also tells her to stay away from a guy named Chad who she meets the next day and discovers that, unfortunately, he's quite cute.
At 38, Park is just getting started as a filmmaker. Her first, "The Fallout," in which Jenna Ortega plays a teen in the aftermath of a school shooting, had one of those pandemic releases that didn't even feel real. But it did get the attention of Margot Robbie 's production company LuckyChap Entertainment, who reached out to Park to see what other ideas she had brewing.
"They were very instrumental in encouraging me to go with it," Park said. "They're just really even-keeled, good people, which makes... Read More