LGF.B News & Events

Lionsgate plans to cut its companywide employee count by 5%, with approximately 50 staff exiting in a move that is in addition to a previous reduction, Deadline's Mike Fleming Jr. reports. The earlier layoff amounted to about 8% of staff. In an internal memo, Lionsgate CEO Jon Feltheimer said that the company continues to operate "in an industry environment characterized by unprecedented change and disruption, and we are continuing to adapt our organization to these changes in order to compete successfully." The job cuts are "difficult decisions impacting colleagues with whom we have collaborated for years and who have made valuable contributions to Lionsgate's success, and we will make their transitions as smooth as possible," Feltheimer said.

Lions Gate Entertainment has completed the full separation of its Studio and Starz businesses into two standalone, publicly-traded companies. Lionsgate will begin trading on the New York Stock Exchange under the ticker symbol "LION." The separation was approved by an overwhelming majority of shareholders at a special shareholder meeting on April 23rd, with over 99% of both classes of shareholders who voted approving the separation. As part of the separation, the former dual share structure has been collapsed into a single class of stock.

Starz (STRZ) announced that it has completed its separation from Lionsgate (LGF.A, LGF.B) and returns to being a standalone public company with trading commencing May 7 on the Nasdaq Stock Market under the ticker symbol "STRZ." The separation was approved by over 99% of both Class A and B shareholders at an April 23 meeting. The former dual share structure will become a single class of stock as of May 7.