Starz Inc.

Last updated

Starz Inc.
Formerly
  • Encore Movie Group (1991–1994)
  • Encore Media Corporation (1994–1998)
  • Encore Media Group (1998–1999)
  • Starz Encore Media Group (1999–2001)
  • Starz Encore Group (2001–2005)
  • Starz Entertainment Group (2005–2009)
  • Liberty Starz (2009–2013)
Company type Subsidiary
Nasdaq: STRZA (until 2016)
Nasdaq: STRZB (until 2016)
Industry Pay television
Founded1991;33 years ago (1991)(as Encore Movie Group)
Headquarters
Meridian, Colorado
,
United States
Key people
Revenue$1.631 billion [1]
$445 million [2]
Parent Liberty Media (1991–2009)
Starz Entertainment (2016–present)
Website Official website

Starz Inc. is an American entertainment company and a subsidiary of Starz Entertainment. [3] It is headquartered at Meridian, Colorado, [4] and uses nearby Englewood as its location in corporate filings and press releases.

Contents

The company owns and operates pay television channels, including its namesake service, sibling networks Starz Encore and MoviePlex. [5]

History

Early history

Encore Movie Group was founded in 1991 as a wholly owned television programming subsidiary and a joint venture of Liberty Media and Tele-Communications Inc., two companies that were controlled by John C. Malone. The premium channel Encore was launched in 1991 on cable systems operated by Tele-Communications Inc., followed by the launch of Starz in 1994, and Encore Plex (now MoviePlex) in 1997. In 1994, Encore Movie Group was renamed Encore Media Corporation.

On June 2, 1997, TCI announced it would transfer part of its ownership stake in Encore Media Corporation to sister company Liberty Media, due in part to substantial losses incurred by the Starz network. TCI retained a minority 20% ownership interest in Encore Media Corporation, renamed Encore Media Group in 1998, until Liberty Media acquired TCI's stake following its 1999 merger with AT&T Corporation and assumed full ownership of the Encore Media Group.

In 1999, Encore Media Group was renamed the Starz Encore Media Group; "Media" was dropped off in 2001, becoming Starz Encore Group. The company also launched a film and documentary production division, Starz Encore Entertainment.

As part of a corporate restructuring in 2003, Starz Encore Group eliminated 100 jobs in its nine regional offices, four of which have been closed. [6] On March 25, 2005, Starz Encore Group was renamed Starz Entertainment Group (also known as Starz Entertainment, LLC), and on March 28, the Starz! network was renamed Starz (dropping the exclamation point) and adopted a new logo featuring a hand-drawn star and a wordmark set in Helvetica Neue Black.

As Starz Media

On August 31, 2006, Liberty Media acquired the US division of IDT Entertainment for $186 million, [7] followed by the Canadian and Australian divisions on September 29, 2006. [8] IDT Entertainment was then merged under Starz Entertainment Group and renamed Starz Media. The company soon expanded into film production by launching Overture Films in 2006, [9] followed by arthouse label Anchor Bay Films in 2008. [10]

On November 19, 2009, Liberty Media spun off Starz Entertainment Group into a separate tracking stock, known as Liberty Starz. [11] On January 1, 2010, Chris Albrecht became the president and CEO of Liberty Starz, overseeing the company's entities including Starz Entertainment, Overture Films, Anchor Bay Entertainment and Film Roman. [12]

On January 4, 2011, The Weinstein Company (TWC) acquired 25% of Starz Media, one of the operating units of Liberty Starz. [13] The arrangement included a five-year distribution deal under which starting in April 2011, Liberty Starz's Anchor Bay Entertainment would release new TWC films on DVD and Starz Digital Media would handle online downloads and streaming. [14]

On August 8, 2012, Liberty Media announced that it would spin-off Liberty Starz into a separate public company; the transaction includes about $1.5 billion of debt. The spin-off of the subsidiary was expected to be completed by the end of 2012, [15] but was actually completed on January 11, 2013. As a result of the spin-off, Liberty Starz changed its name to Starz Inc., began trading on NASDAQ under the ticker symbols STRZA and STRZB, and replaced Liberty Media in the NASDAQ-100 index. [16] Starz Inc.'s businesses and assets at the time consisted of Starz Networks, Starz Distribution, and its minority stake in Arc Productions.

Starz was later replaced in the NASDAQ-100 index by Kraft Foods on March 18, 2013. [17]

Acquisition by Lionsgate

On February 11, 2015, John C. Malone, the majority shareholder in both Starz and its former parent company Liberty Media, swapped a 4.5% stake with 14.5% of the voting power in Starz Inc. for 3.4% of shares in film and television entertainment company Lionsgate while joining the company's board of directors. [18] [19] Fourteen days later, Starz CEO Chris Albrecht hinted a possible merger with Lionsgate. [20]

On November 10, 2015, Malone's two other companies, Liberty Global and Discovery Communications, made a joint investment of $195–400 million in Lionsgate and acquired a 3.4% stake in the company. [21] [22] [23] [24] [25]

On June 30, 2016, Lionsgate agreed to acquire Starz Inc. for $4.4 billion in cash and stock. [26] [27] As part of the acquisition by Lionsgate, Starz Inc.'s home entertainment business have been subsumed into Lionsgate's Worldwide Home Entertainment division, as well as Starz Inc.'s Worldwide TV distribution group being similarly combined. [28] On December 8, 2016, the deal was finalized thus making Starz a subsidiary of Lionsgate. [3]

In August 2023, Lionsgate announced it would be exiting Latin America before spinning off Starz into its own company. [29]

In November 2023, Lionsgate announced the spinoff of its film and television assets into its own separate publicly-traded company. The new company, Lionsgate Studios, would be founded on May 14, 2024. As a result, Lionsgate announced that Starz would be laying off 10% of its work force, and exiting the television markets in both the UK and Australia by the end of 2023. [30]

In 2024, Lionsgate would change its name to Starz Entertainment Corp. to distinguish from Lionsgate Studios. [31]

Starz Networks

The Starz Networks division currently consists of 3 premium cable networks and their various multiplex channels; 17 channels collectively. [32]

Related Research Articles

<span class="mw-page-title-main">Manga Entertainment</span> US anime distributor

Manga Entertainment was a producer, licensee, and distributor of anime in the United States and the United Kingdom. Originally founded in the UK in 1987, the UK branch became Funimation UK and Ireland in 2021, also currently known as Crunchyroll Ltd. since 2022, while its U.S. branch was absorbed into Starz Inc..

<span class="mw-page-title-main">Liberty Media</span> American mass media company

Liberty Media Corporation is an American mass media company founded by John C. Malone in 1991. The company has three divisions, reflecting its ownership stakes in Formula One Group, Sirius XM, and Live Nation Entertainment. The Sirius XM Holdings segment operates two audio entertainment companies, Sirius XM and Pandora. Sirius XM offers channels and information and entertainment services. Pandora is a streaming platform for searching for music and podcasts. As of 2024, Liberty Media is set to own three global motorsport businesses in the form of Formula One, Grand Prix motorcycle racing and World Superbikes.

Starz Entertainment Corp. is a Canadian-American entertainment company currently headquartered in Santa Monica, California. It was founded by Frank Giustra on July 10, 1997, and domiciled in Vancouver, British Columbia, being incorporated there.

Starz is an American premium cable and satellite television network owned by Starz Entertainment, and is the flagship property of parent subsidiary Starz Inc. Launched in 1994 as a multiplex service of Starz Encore, programming on Starz consists of theatrically released motion pictures and first-run original television series.

<span class="mw-page-title-main">Film Roman</span> American animation studio

Film Roman, LLC, is an American animation studio currently based in Woodland Hills, California and formerly in Burbank. It was previously owned by Starz Inc., which is now a division of Lionsgate, and currently by Waterman Entertainment, the production company of producer Steve Waterman.

John Carl Malone is an American billionaire businessman, landowner, and philanthropist. He was chief executive officer (CEO) of Tele-Communications Inc. (TCI), a cable and media giant, for twenty-four years from 1973 to 1996. Malone is now chairman and largest voting shareholder of Liberty Media, Liberty Global, and Qurate Retail Group, and also owned 7% of Lionsgate and Starz Inc. He was interim CEO of Liberty Media, until succeeded by former Microsoft and Oracle CFO Greg Maffei.

Liberty Global Ltd. is a British-Dutch-American multinational telecommunications company domiciled in Bermuda, with headquarters in London, Amsterdam and Denver. Its respective legal names are Liberty Global Holdings Limited (UK), Liberty Global B.V. (Netherlands) and Liberty Global, Inc., with the first of these being publicly traded. It was formed in 2005 by the merger of the international arm of Liberty Media and UnitedGlobalCom (UGC).

Starz Encore is an American premium television channel owned by Starz Inc. a subsidiary of Lionsgate and headquartered at the Meridian International Business Center complex in Meridian, Colorado, United States. Launched as Encore on 1 April 1991, its programming features mainly older and recent theatrically released feature films, although some of its multiplex channels also carry acquired television series. It is the sister channel of Starz and MoviePlex.

MoviePlex, stylized as movieplex since 2006, is an American premium cable and satellite television network owned by the Starz Inc. subsidiary of Lions Gate Entertainment and headquartered at the Meridian International Business Center complex in Meridian, Colorado. Launched on 1 January 1997 as Plex: Encore 1, its programming consists of recent, as well as older theatrically released motion pictures. It is the sister channel of Starz and Starz Encore.

<span class="mw-page-title-main">Starz Distribution</span> Distribution arm of Starz Inc.

Starz Distribution, formerly IDT Entertainment from 2003 to 2006 and Starz Media from 2006 to 2013, was an American television production, distribution, and syndication company and the distribution arm of Starz Inc., a subsidiary of Lionsgate, established in 2003. It developed, produced and acquired original programming content branded as Starz Originals, feature films and other audiovisual programming for distribution across television, home video and streaming media.

<span class="mw-page-title-main">Anchor Bay Entertainment</span> American home entertainment and production company

The revived Anchor Bay Entertainment is an American independent film production and distribution company owned by Umbrelic Entertainment co-founders Thomas Zambeck and Brian Katz. Anchor Bay Entertainment markets and releases "new release genre films, undiscovered treasures, cult classics, and remastered catalog releases".

<span class="mw-page-title-main">Chris Albrecht</span> American media executive

Chris Albrecht is an American media executive. He is the co-founder of Rubicon Global Media and was previously chairman and CEO of HBO and CEO and President of Starz.

Starz is a Canadian English language premium television network owned by Bell Media.

<span class="mw-page-title-main">Jam Filled Entertainment</span> Canadian animation studio

Jam Filled Entertainment is a Canadian animation studio based in Ottawa, Ontario, and a division of Boat Rocker Media. The company is best known for animating Thomas & Friends and Nicktoons.

<span class="mw-page-title-main">MGM+</span> American pay television network

MGM+, is an American premium cable and satellite television network owned by the MGMPlus Entertainment subsidiary of Metro-Goldwyn-Mayer (MGM), which is itself a subsidiary of Amazon MGM Studios. The network's programming consists of recent and older theatrically released motion pictures, original television series, documentaries, and music and comedy specials.

<span class="mw-page-title-main">Qurate Retail Group</span> American fashion holding company

Qurate Retail, Inc., also known as Qurate Retail Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.

Root Sports Utah was an American regional sports network that was owned by the AT&T Sports Networks subsidiary of AT&T Inc., as part of the AT&T SportsNet brand of networks and is an affiliate of Fox Sports Networks. Headquartered in Salt Lake City, Utah, the channel broadcasts regional coverage of sports events throughout Utah, namely the NBA's Utah Jazz and college teams including the Utah State Aggies, Utah Utes, BYU Cougars, and several other schools. Root Sports Utah was available on cable providers throughout the state of Utah, and nationwide on satellite via DirecTV and Dish Network.

IndiePlex, stylized as indieplex since 2006, is an American premium television network which features independent motion pictures. It is a spinoff of MoviePlex and is owned by Starz Inc. The headquarters of IndiePlex and its sister channels MoviePlex and RetroPlex are located on the Meridian International Business Center complex in Meridian, Colorado.

Lionsgate Studios Corp., simply known as Lionsgate Studios, is a Canadian-American film and television production and distribution conglomerate owned by Starz Entertainment, domiciled in Vancouver, British Columbia, and primarily based in Santa Monica, California. It was formed on May 14, 2024, after Lionsgate spun off its film and television businesses.

References

  1. ↑ "Starz Reports Fourth Quarter And Year End 2012 Financial Results" (Press release). PR Newswire. February 27, 2013. Retrieved March 28, 2016.
  2. ↑ "Starz Reports Fourth Quarter And Year End 2012 Financial Results" (Press release). PR Newswire. February 27, 2013. Retrieved March 28, 2016.
  3. 1 2 Vlessing, Etan (December 8, 2016). "Lionsgate Completes $4.4B Acquisition of Starz". The Hollywood Reporter. Retrieved December 9, 2016.
  4. ↑ Weiker, Jim (April 22, 2000). "Starz Encore unit to build new home in Meridian park". DenverPost. Retrieved December 8, 2021.
  5. ↑ STARZ to Ring The NASDAQ Stock Market Opening Bell "Nasdaq.com" January 24, 2013
  6. ↑ Steve Donohue (November 17, 2003). "Starz cuts staff, regional hubs; Starz Encore Group eliminates 100 jobs and closes four regional offices". Multichannel News. Archived from the original on November 5, 2012. Retrieved February 25, 2011.
  7. ↑ IDT Corporation – Press Releases
  8. ↑ UK Film and Television News – Liberty Completes First Stage of IDT Acquisition
  9. ↑ McNary, Dave (November 14, 2006). "Studio makes overtures". Variety. Retrieved October 2, 2024.
  10. ↑ Graser, Marc (October 8, 2008). "Anchor Bay forms theater arm". Variety. Retrieved October 2, 2024.
  11. ↑ "Liberty Media Completes Split-Off and Merger with The DIRECTV Group, Inc". Liberty Media. PR Newswire. November 19, 2009. Archived from the original on November 19, 2015. Retrieved February 23, 2011.
  12. ↑ "Liberty Media Names Chris Albrecht as New President and CEO of Starz, LLC" (Press release). PR Newswire. December 22, 2009. Archived from the original on December 25, 2009. Retrieved January 21, 2010.
  13. ↑ "Starz Rises During NASDAQ Debut". MultiChannel News. November 20, 2009. Retrieved March 28, 2016.
  14. ↑ "Weinstein Co. buys 25% of Starz Media". Los Angeles Times. January 5, 2011. Retrieved March 28, 2016.
  15. ↑ "Liberty Media to spin off Starz Network". Chicago Tribune. August 8, 2012. Retrieved March 28, 2016.
  16. ↑ "Liberty Media Corporation and Starz Announce Completion of Spin-Off". Reuters. January 11, 2013. Archived from the original on February 3, 2014. Retrieved March 28, 2016.
  17. ↑ "KRAFT FOODS INC. TO JOIN THE NASDAQ-100 INDEX BEGINNING JULY 23, 2012" (Press release). Nasdaq. July 13, 2012.
  18. ↑ Farrell, Maureen (February 11, 2015). "Malone, Starz, and Lions Gate Join Forces". The Wall Street Journal. Retrieved February 12, 2015.
  19. ↑ Lionsgate, Starz Swap Stock as John Malone Joins Board Brent Lang variety.com February 11, 2015. Retrieved February 26, 2015
  20. ↑ Starz CEO Albrecht Hints at Possible Merger With Lions Gate Jeff Berman thestreet.com February 25, 2015. Retrieved February 26, 2015
  21. ↑ "What's Next for Lionsgate and Liberty Global?". Variety. November 10, 2015. Retrieved August 16, 2016.
  22. ↑ "Lionsgate Strengthens Ties To John Malone: Liberty Global and Discovery Buy Stakes". Deadline Hollywood. November 10, 2015. Retrieved August 16, 2016.
  23. ↑ "Lionsgate sells 6.8% stake to John Malone's Liberty Global and Discovery". Los Angeles Times. November 10, 2015. Retrieved August 16, 2016.
  24. ↑ Merced, Michael J. (November 10, 2015). "Liberty Global and Discovery Take Stakes in Lions Gate". The New York Times. Retrieved August 16, 2016.
  25. ↑ Vlessing, Etan (November 10, 2015). "Liberty Global and Discovery To Take Stakes in Lionsgate". The Hollywood Reporter. Retrieved August 16, 2016.
  26. ↑ Lieberman, David (June 30, 2016). "Lionsgate Agrees To Buy Starz For $4.4 Billion in Cash And Stock". Deadline Hollywood. Retrieved June 30, 2016.
  27. ↑ Schwindt, Oriana (December 8, 2016). "Lionsgate, Starz Close $4.4 Billion Acquisition". Variety. Retrieved December 8, 2016.
  28. ↑ Aycock, Jason (October 28, 2016). "Filing: Starz CFO to leave as Lions Gate merger wraps". Seeking Alpha. Retrieved October 30, 2016.
  29. ↑ Middleton, Richard (August 11, 2023). "Lionsgate delays Starz split, plans exit from Latin America". Digital TV Europe. Retrieved March 6, 2024.
  30. ↑ Sherman, Alex (November 3, 2023). "Starz to lay off more than 10% of employees ahead of Lionsgate spinoff". CNBC. Retrieved March 6, 2024.
  31. ↑ Goldsmith, Jill (November 27, 2024). "Lionsgate Closing In On Studio-Starz Split". Deadline. Retrieved November 28, 2024.
  32. ↑ "Liberty Media Corp (LMCA.O)". Reuters. Archived from the original on March 19, 2013. Retrieved March 28, 2016.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.