“We don’t overpay, but we think nobody is better equipped to actually do that. We think nobody sells library and packages library better than our team,” he said.
“I think you know we have been very successful in making those kids of deals. But asked about smaller, non-Starz “tack-on” acquisitions in the library space – which could apply to STX - CEO Jon Feltheimer said today that “at the right price, as entrepreneurs, we have to look at every opportunity.” Lionsgate execs haven’t confirmed interest in STX. The agreement announced December 7 has 45-day “go-shop” period to consider other offers. STX is on the market for a little longer after splitting with Eros and agreeing to be acquired by The Najafi Companies for $173M. The studio behind John Wick and The Hunger Games franchises is also a potential buyer as it eyes a purchase of STX Entertainment.
They also don’t think Lionsgate’s stock reflects it asset value, which could be unlocked in some kind of transaction. Executives have noted high multiples offered in recent transactions - starting with Amazon’s agreement last spring to buy MGM for $8.45 billion - which indicate a good time to deal. Lionsgate Quarterly Revenue Up, Losses Widen Starz Global Streaming Subs At 19.7Mīoth Starz and Lionsgate are in play in a time of rapid media consolidation with premium content in demand.
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