All Access

Media Deals

Media Deals Alerts

Alert

Standard

Media Deals Thought Bubble

Thought Bubble

mustard

BFD Expert Voices - Media Deals

BFD Expert Voices

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

stock-market-news

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

detroit

columbus

austin

kansas-city

dallas

atlanta

washington-dc

nw-arkansas

boulder

chicago

indianapolis

nashville

richmond

houston

san-francisco

seattle

colorado-springs

boston

des-moines

salt-lake-city

philadelphia

denver

phoenix

new-orleans

miami

twin-cities

huntsville

raleigh

san-antonio

portland

san-diego

tampa-bay

cleveland

pittsburgh

axios-local

axios-pro

axios-live

the-axios-show

Activist investor Anson Funds Management is pushing Lionsgate to consider a sale after it spins off the Starz business next month.

Why it matters: The campaign, if successful, could put the $2.1 billion company on the auction block.

Some corners of Hollywood had viewed Lionsgate's decision to separate its studio into its own company as a precursor to an eventual sale.

Driving the news: Anson took a stake in Lionsgate Studios Corp. and is now one of the top independent shareholders, a source with knowledge of the situation confirmed to Axios.

A sale is only one potential option Anson wants Lionsgate to consider, the source added. Other options include divesting its unscripted television business and 3 Arts Entertainment, a management and production company.

While declining to comment on the nature of its discussions with Anson, a Lionsgate spokesperson said "we always welcome the ideas and input of our shareholders."

Bloomberg first reported the news of Anson's stake.

The big picture: Lionsgate has long been seen as a takeover candidate, with its trove of IP that includes the "John Wick," "Twilight" and "Hunger Games" franchises.

Last year, Lionsgate bought film and TV studio Entertainment One from Hasbro for around $500 million.

Executives had long believed that Starz, a pay cable network that is transitioning to streaming, had been weighing down the company's value.

What's next: The formal split between Lionsgate Studios and Starz, which has taken more than three years to execute, is expected to be finalized in mid-January.

Activist investor pushes Lionsgate to consider sale

Lionsgate will finally split from Starz next month.

Illustration of a box of popcorn with hundred dollar bills as the sides that is overflowing with popcorn.

Activist investor Anson Funds Management is pushing Lionsgate to consider a sale after it <a class="gtmContentClick" data-vars-link-text="spins off the Starz business" data-vars-click-url="https://www.axios.com/2023/12/22/lionsgate-spac-studio-starz" data-vars-content-id="22fe959c-dbf3-48a8-a68a-903662883b5c" data-vars-headline="Activist investor pushes Lionsgate to consider sale" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/12/22/lionsgate-spac-studio-starz" target="_self">spins off the Starz business</a> next month.Why it matters: The campaign, if successful, could put the $2.1 billion company on the auction block.

Activist investor pushes Lionsgate to consider sale

What to read next