report today said any forthcoming deal could involve a sale, spinoff or placement into an SPAC , in which a public company would be created to finance a deal. Sources said interest has come from potential investors coming to the company , and that no final deal is imminent. SPACs have come in and out of vogue as macroeconomic conditions evolve but have never been particularly common in the entertainment industry.
Starz is in the midst of an expensive OTT and global expansion — its is currently in almost 50 countries and is projected to hit 6 million SVOD subscribers by end of the current fiscal year — and an full integration into Lionsgate Television. Just three weeks ago, Lionsgate promoted Starz COO Jeffrey Hirsch to CEO, signing him to a long-term deal.
Also last month, Lionsgate vice chairman Michael Burns said at an investor conference that if the company sold Starz outright, “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.”
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