Lionsgate has announced that it may opt to sell Starz in an attempt to split its studio from its streaming service.
“On November 2, 2021, the Company’s Board of Directors authorized the Company’s management team to explore potential capital markets alternatives for its Media Networks business (STARZ) including, but not limited to, a full or partial spin-off, split-off, issuance of a tracking stock or other transactions,” a court filing obtained by The Hollywood Reporter reads.
“Recent transaction multiples in the media space give us confidence that exploring alternate paths is prudent. Additionally, we believe that a number of the structures we’re considering would allow Lionsgate and Starz to preserve many of the operational benefits we’re currently achieving within a single corporate structure.”
It is unclear who will purchase the network or how long it would take to complete a transaction, but one suitor has already emerged. Curtis “50 Cent” Jackson popped on Instagram to let viewers know that he’d like to be a part of the ownership group that bids on the network.
“I’m gonna look into buying the STARZ network,” he wrote.
Jackson is currently responsible for two of the network’s biggest series, Power III: Raising Kanan and BMF. Filmmaker Deon Taylor also revealed that Jackson and company recently finished filming another series for Starz called Power Book IV: Force.
