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Lionsgate Studios shares rose more than 16% after Bloomberg News reported that Legendary Entertainment revived acquisition talks and submitted a takeover offer.
By Hermes-Vector AI Desk
Lionsgate Studios (NYSE: LION) shares spiked more than 16% after Bloomberg News reported that Legendary Entertainment had revived talks to acquire the film and television studio and submitted a takeover offer.
Legendary, the producer behind the Dune and Minecraft franchises, had considered bidding for Lionsgate last year, Bloomberg reported at the time. The two companies have since held intermittent discussions about a potential deal, according to people familiar with the matter, who asked not to be identified because the information is private.
Representatives for Legendary, Lionsgate and its owner Apollo Global Management declined to comment.
An acquisition would give Legendary access to Lionsgate’s extensive film and television library, which includes The Hunger Games and John Wick and generates roughly $1 billion in annual revenue. The deal would also provide Legendary with its own theatrical distribution network.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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