Roku and Apollo joint bid to acquire stake in Starz
The Wall Street Journal USA, Page 1, Lilian Rizzo and Miriam Gottfried.
Roku Inc. Cooperated with private equity company Apollo Global Management Inc. To bid for a minority stake in pay-TV and live broadcasting starswhich is famous for series like stranger from home And EnergyAccording to people familiar with the situation. In November, the film and television production company Lions Gate Entertainment Company He said he was considering selling or splitting stars.
Lions Gate acquired stars It was valued at $4.4 billion in 2016, but has struggled to deliver on the promise of the deal, with the combined company now being valued at around $3 billion. Roccoknown for the set-top boxes that power streaming apps, has ramped up its investment in original programming.
Lions Gate And Rocco He recently announced a deal that will see the studio’s films exclusively shown on the channel Rocco Free and ad-supported, after airing on stars. Rocco Last fall he announced plans to develop over 50 original shows over the next two years for it roku channelIt is supported by ads. in December, Rocco He released his first original film, Unusual birthday to Zoe, Part of the series NBC Zoey’s unusual playlist, which was produced in collaboration with Lions Gate.
Sell a share of stars would help Lions Gate To raise funds and evaluate the premium channel, people familiar with the situation said. Rocco And Apollo You can get up to 20% off starsbut the tandem does not agree to evaluate with Lions GateSomeone said. It was not possible to tell if other bidders had appeared stars.
sale stars can result in Lions Gate Acquisition target, as players in the entertainment landscape, from streamers to TV networks, are looking for new content. Lions Gate It is the studio behind the film franchises John Wick And hunger Games; His offers include ghosts from CBS. Vice President of Lions Gate, Michael BurnsHe said recent deals in the media have given the company confidence that now is the time to consider selling or spinning stars.
(complete in The Wall Street Journal USA)
(Pictured are logos Stars and Lions Gate)
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