May. 8 at 8:49 PM
$STRZ in with a small position...adding more on pullbacks.
Lionsgate had acquired Starz, a premium cable network and streamer, in 2016 for
$4.4 billion.
Starz had about 20 million subscribers in the U.S. and Canada as of Dec. 31, 2024.
Jeffrey Hirsch, president and CEO of Starz, said in a statement: “Today marks an important milestone in our history as we unlock significant value as a standalone business and advance our position as the leading premium entertainment destination for women and underrepresented audiences.”
Hirsch said the separation “comes at a pivotal time for the industry.” He continued, “Our strong balance sheet, compelling programming lineup and industry-leading tech stack will enable us to be nimble and capitalize on growth opportunities, while driving long-term success for our partners, audiences, employees and shareholders.