Lionsgate Enters Into Stock Exchange Agreement with Affiliates of John Malone

February 11, 2015 2:13 PM

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SANTA MONICA, Calif., Feb. 11, 2015 /CNW/ -- Lionsgate (NYSE: LGF), a premier next generation global content leader, today announced that it has entered into a stock exchange agreement with affiliates of media leader Dr. John C. Malone. Under terms of the agreement, Lionsgate will exchange newly issued shares representing approximately 3.43% of its outstanding common stock on a pro forma basis for a portion of Series A and Series B Starz common stock held by Dr. Malone and his affiliates representing approximately 4.51% of Starz common stock outstanding and 14.50% of the total voting power of Starz common stock. Dr. Malone will remain Starz's largest voting shareholder, with an approximate 6.1% equity interest and approximately 32.1% of the total voting power of Starz. Upon completion of the transaction, Dr. Malone will join Lionsgate's Board of Directors.

"Lionsgate has emerged as a leader in developing global content, and this transaction creates the potential for a number of strategic opportunities around the world with them," said Dr. Malone. "I'm delighted to add my voice to the Board of Directors of one of the most exciting content companies in ...

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