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Post by The Ultimate Nullifier on Jan 18, 2018 20:41:28 GMT -6
deadline.com/2018/01/lionsgate-stock-report-active-merger-talks-1202245381/Lionsgate Stock Pops After Report Of Active Merger Talks Lionsgate stock roared out of the gate this morning, rising 5% in mid-morning trading to just shy of $34 a share. The jump followed Deadline’s exclusive report yesterday that the company is in active merger discussions with Amazon, Verizon and a potentially recombined Viacom-CBS. Overall, major stock indices are down thus far today. It is worth noting, though, that some of the top gainers in the media sector are all of the aforementioned Lionsgate suitors — Verizon and Viacom are each up 2% and CBS has added 3% for the day. Amazon, whose entertainment activities generally don’t affect its stock, is up a fraction. Shares in Lionsgate have climbed 20% since the start of November. On the film side, the company has had a strong few months, releasing Wonder at Thanksgiving, a family hit that has taken in more than $200 million worldwide. On the TV side, with Starz now in the fold and dozens of shows set up across linear and digital platforms, the operation continues to hum. The company’s fiscal second-quarter results beat Wall Street expectations, with total revenue coming in at $941 million. One element of intrigue in any potential combination is the management team. Lionsgate’s top exec tandem of CEO John Feltheimer and vice chairman Michael Burns have run the company for the better part of two decades, guiding the indie outfit through the acquisitions of Artisan, Debmar-Mercury, Summit and Starz. Burns and Feltheimer are under contract through 2022 and 2023, respectively.
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