Malone Trades Starz Stock for Stake in Lionsgate
Cable wheeler-dealer John Malone is trading shares in Starz, the premium cable network he controls, for a stake in movie and TV studio Lionsgate.
Malone will have a seat on the Lionsgate board and will remain the largest shareholder in Starz.
"Lionsgate has emerged as a leader in developing global content, and this transaction creates the potential for a number of strategic opportunities around the world with them," Malone said in a statement. "I'm delighted to add my voice to the board of directors of one of the most exciting content companies in the industry."
The two companies will look for ways to work more closely together.
"John has been a pioneer in content distribution to the next generation consumer, and we're delighted to add an investor of his caliber, experience and vision to our board of directors," said Lionsgate CEO Jon Feltheimer and vice chairman Michael Burns. "We see tremendous value in Starz as well as the potential to explore a broad range of strategic initiatives in the future."
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.