John Malone has completed a selloff of his stake in Lionsgate, with the studio’s chairman Mark Rachesky agreeing to purchase 2,399,571 Class A voting shares from the media mogul and his perso…
The downward trajectory has put the company’s fate under scrutiny. For 20-plus years, it has pursued a course of growth as an independent company, pulling off a series of acquisitions and managing not to be the acquired one. But the longer the stock price remains in the $8-$10 range — where it has hovered since August — the closer potential buyers will circle.
Malone had been a member of Lionsgate’s board of directors, exiting that post in fall 2018 after a little more than three years. He had joined in February 2015 after Lionsgate and Starz, in which Malone had a majority stake, sealed a stock-swap agreement.
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