acknowledged that the company’s “stock is on its butt” and several M&A scenarios are again in play, but he also made a firm case for the company’s viability as is.
If Lionsgate sold Starz outright, Burns said later in the discussion, “then we would be a pure-play studio. … We’d have more money in cash on our balance sheet than our current stock price. And no debt. But then, what are we? That’s a conversation we’d have to have with ourselves and our board of directors.”Class A shares in Lionsgate fell 4% Thursday to $11.21. The stock’s recent trading range has been the lowest since 2012.
Burns said he and CEO Jon Feltheimer “have built this company, brick by brick, for the last 20 years.” With Disney-Fox, A&T-Time Warner, Discovery-Scripps and many other deals reshaping the consolidated landscape, many investors have questioned Lionsgate’s viability as a stand-alone entity for much longer.
Mr Burns I just saw you on newsmax. You look like you might have a thyroid tumor. You might want to have it checked. Your neck looks very swollen around your Adams apple.
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