Sales at the film and television company climbed 5.8% to $885.4 million, while the net loss attributable to Lionsgate shareholders topped out at $45.6 million or 20 cents per share. That was a steeper drop than the $13.9 million in losses that Lionsgate logged in the year-ago period. Starz’s net global streaming subscribers increased by 1.7 million in the sequential quarter, with its streaming subscriber base for Starz, Starzplay Arabia and Pantaya topping out at 19.7 million.
Last quarter, Lionsgate announced that its board of directors has given the greenlight to its management team to explore spinning off or selling its Starz division. The company Lionsgate spent $4.4 billion to buy Starz in 2016, a move that expanded its television operations, but one that also added to its debt load.
The television business, led by Lionsgate’s breakout sitcom hit “Ghosts,” was a source of strength. The segment had one of its strongest quarters with six new shows picked up to series and seven current series renewed for new seasons. The included the continued expansion of the company’s universe of “Power” shows. Segment revenue climbed nearly 93% to $438.6 million, but profits declined 34.6% to $19.3 million.
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