Lionsgate Takes Big Write-Down For Starz Noting “Economic, Industry Headwinds” But Beats Quarterly Forecasts

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Lionsgate total global subscribers rose to 37.8 million for the fiscal second quarter ended in September, driven by international and domestic streaming, where subs were up 52% year-on-year to 27.3 million

or Starz but execs are likely to on a call skedded for 6 pm ET. It did release more detailed financial information and guidance on the sectors for 2023 and 2024 ahead of a potential separation of the businesses or other transaction. It said in an SEC filing it prepared the numbers “in connection with strategic and financial discussions.”

The film and TV studio biz saw sales of $655 million compared with $667. Profit dropped to $69 million from $130 million. Motion pictures revenue fell, television rose. Profits fell at both. “We reported another strong library performance and continued growth in Lionsgate Television series deliveries as our studio businesses continued to perform in line with expectations in the quarter,” said CEO Jon Feltheimer.

 

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