Lionsgate Studios began trading as a single class of stock under the NASDAQ ticker symbol LION on Tuesday. This news comes as the company continues its split from the premium cable network STARZ.
Lionsgate Studios encompasses both Lionsgate’s Motion Picture Group and the Television Studio segment as well as the company’s 20,000-plus title film and television library. This transaction is a major step in Lionsgate’s plan to fully separate its studio and STARZ businesses. Lionsgate Studios is currently valued at an enterprise value of $4.6 billion.
“This transaction reaffirms our longstanding belief in the value of premium content by enabling us to launch Lionsgate Studios as one of the world’s leading standalone, pure play, publicly-traded content companies,” Lionsgate CEO Jon Feltheimer and Vice Chair Michael Burns said in a joint statement.