Lionsgate will at long last launch its standalone film and TV studio business, Lionsgate Studios, on Nasdaq on Tuesday.
The studio, led by CEO Jon Feltheimer, said the transaction will see the spun-off company begin trading separate from Lionsgate’s Starz business and under the ticket symbol LION. It expects to raise $350 million in proceeds. Lionsgate Studios is made up of Lionsgate’s Motion Picture Group and Television Studio business, along with a 20,000-strong film and TV library.
“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,” Feltheimer and vice chair Michael Burns said in a statement ahead of the Nasdaq’s opening bell on Tuesday.
“It is an important step forward in the process of preparing strategically and…
