The Hollywood media giant, led by CEO Jon Feltheimer, is near to an end-September deadline to unveil a spin off of its studio business into a separate stock.
Lionsgate posted an earnings per-share loss of 31 cents, compared to a year-earlier per-share loss of 53 cents, which beat an analyst consensus of a 45 cents per-share loss. The adjusted earnings per-share of 4 cents, against a year-earlier loss of 23 cents per-share, beat an analyst estimate for a 23 cents per-share loss during the latest quarter.
Lionsgate is exploring its options for Starz, including a possible separation of the pay TV and streaming business and its studio operations. The goal will be creating two standalone companies so investors can value the Starz and studio assets separately as part of a transaction set to be unveiled by the end of September.
An earlier SEC Form 10 filing laid out the corporate structure of the separated studio and media networks businesses, to be relaunched as New Lionsgate and New Starz.
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