Lionsgate Quarterly Earnings Beat Wall Street’s Expectations as Big Changes Loom

📆 8/9/2023 11:45 PM
📰 Variety

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Losses narrowed and revenues climbed as film hits such as “John Wick: Chapter 4″ helped power Lionsgate’s quarterly earnings. It’s a time of change for the company, which is expected to be acquired by Hasbro for approximately $500 million. The transaction is expected to close by the end of the year. The company’s library includes hits such as “The Woman King” and “Yellowjackets” as well as the “Naked & Afraid” franchise. “I’m pleased to report a strong financial quarter with another record library performance,” said Lionsgate CEO Jon Feltheimer.

for approximately $500 million. The transaction is expected to close by the end of the year. The company’s library includes hits such as “The Woman King” and “Yellowjackets” as well as the “Naked & Afraid” franchise.

“I’m pleased to report a strong financial quarter with another record library performance,” said Lionsgate CEO Jon Feltheimer. “We continued to execute our strategic agenda culminating in our signing a definitive agreement with Hasbro last week to acquire global entertainment platform eOne. The acquisition checks off all the boxes by adding thousands of titles to our library, growing our portfolio of brands and strengthening our scripted and unscripted television business.

Lionsgate also said that Starz had made a strategic decision to exit Latin America by the end of 2023, and will instead focus its operations on the U.S., U.K. and Canada, a sign that it is curtailing its global ambitions.

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