Robust subscriber growth at Starz lifted Lionsgate’s earnings at a time when movie theaters are still struggling to reemerge from their Covid-era closures and the entertainment landscape is shifting rapidly.The better-than-expected results come as Lionsgate is seen as a potential acquisition target for tech giants and media conglomerates looking to get bigger.
AT&T’s decision to spin off WarnerMedia and combine it with Discovery, as well as Amazon’s $8.45 billion purchase of Metro-Goldwyn-Mayer are expected to spark a new wave of mega-deals, which could enrich Lionsgate shareholders.
The company owns the rights to such franchises as “John Wick” and “The Hunger Games,” and is really digestible by Silicon Valley standards.For the period ending in March, Lionsgate reported revenue of $876.4 million, down 7.2% from the $944.3 million that the company reported in the prior-year period.
Lionsgate also reported a net loss attributable to shareholders of $37.7 million or 17 cents per share.
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