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Lionsgate TV Sees Sales, Profit Jump On Library Sales, Post-Strike Content Deliveries In March Quarter
Lionsgate saw solid quarterly numbers in key metrics with TV a standout on post-strike deliveries and library sales as the company splits in two.
Lionsgate blew past Wall Street’s expectations for the March quarter, its fiscal fourth, on a few key metrics from revenue to adjusted EPS and operating income as library sales and ramped up content deliveries helped propel TV profits up by 83%. “We reported strong financial results in the fourth quarter to wrap up a great year in which we completed four major transactions, moved closer to a value-defining separation of our studio and STARZ businesses, grossed over a billion dollars at the global box office and grew our film and TV library to record levels,” said Lionsgate and Lionsgate Studios CEO Jon Feltheimer. The agency said the ‘B- rating reflects “heightened credit risk from increased leverage and Fitch’s expectation that the company will stay outside ratings sensitivities for longer than previously anticipated.” The stable outlook reflects the film library, which expanded with the eOne acquisition; scale as well as “leadership in film and television content production; and the Starz-branded premium subscription video services, along with the relative stability of the company’s media networks business.”
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