|
Post by The Ultimate Nullifier on Mar 9, 2017 21:49:50 GMT -6
variety.com/2017/tv/news/mgm-epix-viacom-lionsgate-1202005853/MGM in Talks to Buy Out Epix Partners Lionsgate, Viacom (Report) MGM is reportedly in talks to buy out partners Lionsgate and Viacom and become sole owner of premium cable channel Epix. MGM currently owns 19% of Epix, while Viacom owns 50% and Lionsgate own the remaining 32%. Following its acquisition of premium network Starz last year, Lionsgate indicated that it would look to unload its stake in Epix. Viacom, meanwhile, has $12 billion in debt that it has promised to pay down — a goal that an Epix deal would help achieve. News of the possible deal was first reported Thursday by Reuters. According to Reuters, a possible deal would likely include Paramount and Lionsgate agreeing to continue to distribute their movies through Epix for several years to come. Epix, which includes a companion digital streaming service, would reportedly be valued between $1 billion and $2 billion. A representative for MGM declined to comment. Epix was launched in 2009 as a partnership between Viacom-owned Paramount, MGM, and Lionsgate, as a premium outlet for films from the three studios. Speaking to Variety last year, Epix CEO Mark Greenberg said, “When we launched Epix we knew that linear TV was just one platform. Digital was a way of giving people more choice and more convenience. It’s not that different from the old days of going to a Blockbuster store. We’ve just put it in the cloud.” Epix has recently ventured into original scripted programming with series such as “Graves” and “Berlin Station,” both of which premiered last year and have been renewed for second seasons.
|
|
|
Post by The Ultimate Nullifier on Mar 9, 2017 22:17:35 GMT -6
www.hollywoodreporter.com/news/mgm-talks-acquire-epix-outright-lionsgate-viacom-985020MGM in Talks to Acquire Epix Outright From Lionsgate, Viacom The James Bond franchise studio aims to buy the remainder of the premium channel from its joint venture partners to bolster its TV business. MGM Holdings, parent of the Hollywood studio behind the James Bond film franchise, is in talks to to acquire Epix from fellow shareholders Lionsgate and Viacom, The Hollywood Reporter has learned from sources close to the negotiations. A deal, thought to be announced as early as next week, hinges on an overall valuation for Epix, thought to be in the $1 billion-$2 billion range. Reuters first reported Thursday on talks by MGM to buy Epix from its joint venture partners. The talks over Epix are no surprise as Lionsgate in late January signaled it wished to sell its 31.2 percent holding in the premium channel in the wake of its merger with Starz. The deal for Starz, first unveiled in June 2016, put an immediate question mark over Epix. Viacom, which holds a separate 50 percent stake in Epix, also stirred speculation on Wall Street over the future of Epix when it recently explored recombination with CBS. Epix recently saw Mark Greenberg, president and CEO, extend his employment agreement with the premium entertainment network. Epix has a content foundation from its joint venture partners’ first-run movie franchises, including The Hunger Games, Mission: Impossible, Star Trek and the Bond pics. Now it is building up its TV business with the original scripted series Graves, a half-hour political satire produced with Lionsgate TV, and Berlin Station, a contemporary spy-thriller from Paramount TV and Anonymous Content. The acquisition of Epix is thought to help bolster MGM's TV business, which is run by Mark Burnett, the reality TV pioneer behind such hits as Survivor, The Apprentice, Shark Tank and The Voice and the driving force — along with his wife, Roma Downey — behind the miniseries The Bible and other faith-based programming.
|
|