Thursday, June 30, 2016
TheStreet: Lions Gate and Starz Is a Deal Made in Heaven Says Jim Cramer: TheStreet
Published on 30 Jun 2016
The Lions Gate deal to acquire Starz is a match made in heaven and could bring about more media deals, said TheStreet's Jim Cramer. Lions Gate Entertainment, the studio behind the Hunger Games franchise and hit Netflix series Orange is the New Black on Thursday announced it would buy premium cable channel operator Starz for $4.4 billion in cash and stock. Under the deal, which the companies expected would close by year's end, holders of Starz Series A common shares will receive $18 in cash plus 0.6784 nonvoting Lions Gate shares for each Starz share. Holders of Starz Series B common shares will receive $7.26 in cash plus 0.6321 nonvoting Lions Gate shares and 0.6321 voting Lions Gate shares.