Lionsgate Posts $1.8B Loss As It Exits Seven Former Starz Markets
The studio will remain with Starz internationally in the UK, Latin America and Canada. Lionsgate’s base of streaming subscribers for Starz slowed its growth during the second quarter, as the studio reported its number of global streaming subscribers for Starz rose to 27.3 million for the three months to Sept. 31, 2022 in an increasingly competitive global streaming arena.
Lionsgate recorded a $218.9 million restructuring charge around the streamlined Lionsgate+ reach, and another $1.48 billion non-cash impairment charge related to its acquisition of Starz in 2016 to take account of changes in future free cash flow projections.
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