Lionsgate execs declined to offer any update on the status of Starz after announcing last fall the company’s exploring strategic options.
Nor did STX Entertainment come up on an earnings call with analysts.But Wall Street was buzzy about Starz. In response to a question, Vice chairman Michael Burns said Lionsgate is “working with a terrific team of advisors with complementary strengths and expertise as we continue the process of unlocking shareholder value in our two core businesses.
We will be providing updates on our progress at the appropriate time.”Pressed again on whether he though Starz could be successful as a standalone public company, he repeated. “As things progress, you guys will certainly hear where we are.”Both Starz and Lionsgate are in play in a time of rapid media consolidation with premium content in demand.
Executives have noted high multiples offered in recent transactions [starting with Amazon’s agreement last spring to buy MGM for $8.45 billion] which indicate a good time to deal.
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