Starz CEO: There’s Upside to a Potential Spin Off
“The street reacted positively to the news, so I think our board and our shareholders are aligned on doing something structural to the business,” Hirsch said. The executive added that Starz is already structured as a stand-alone business since merging with Lionsgate and its studio operations.
“We have a CFO, we have a head of HR. We have a separate marketing group. So all the personnel stuff that would have to happen to actually break the company apart is already in place,” Hirsch said. Even if a sale or spinoff of Starz allows investors to value the pay TV and streaming platform separately from Lionsgate’s studio assets, Hirsch said the synergies from bringing Lionsgate and Starz together could still be realized.
“The work we’ve done will continue whether we are the same company or a separate company — we’re a big buyer of content,” Hirsch insisted. Starz is a pay TV channel similar to HBO and Showtime, and also offers an OTT service that counts 18 million global streaming subscribers.
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