Lionsgate and Starz Begin Formal Separation Process

Lionsgate is making moves to officially separate its studio operations from Starz, its pay TV and streaming business. In a recent public filing with the U.S. Securities and Exchange Commission, the Hollywood studio shared an amended Form S-4 registration statement. This step is part of a planned separation that will result in two distinct public companies – Lionsgate Studios Corp, which will house the studios business and Starz Entertainment Corp., which will encompass the media networks business, notably Starz.

This recent SEC filing follows an earlier S-4 registration filed in October 2024 that included a joint proxy statement and prospectus. The separation will lead to two separate publicly traded entities – LGEC, which will be rebranded as Starz Entertainment Corp., and New Lionsgate, which will be known as Lionsgate Studios Corp.

Previously, Lionsgate established a separate publicly traded company for its film and TV studios business through a Special Purpose Acquisition Company (SPAC). This move paved the way for the eventual formal separation from Starz. The standalone Lionsgate Studios company went public on NASDAQ and boasts a considerable library of movies and television franchises as its main assets.

The SPAC transaction entailed the parent company maintaining an 87.3 percent stake in Lionsgate Studios, while the remaining 12.7 percent was held by Screaming Eagle Acquisition Corp., the blank check company involved in the deal.

As Lionsgate navigates through these changes, the Hollywood studio continues to explore its strategic options.