In a move it has telegraphed for some time, Lionsgate unveiled a deal to spin off its studios business in a Special Purpose Acquisition Company (SPAC) deal to create a separately traded public company with a $4.6 billion enterprise value.
The proposed SPAC-style merger follows strategic talks by the Jon Feltheimer-led company to spin off its studio division or Starz streaming platform. The studio business, comprising Lionsgate’s TV production and Motion Picture Group divisions and an 20,000-title film and TV library, will be combined with Screaming Eagle Acquisition Corp., a special-purpose acquisition rights company — often referred to as a blank check company — led by SPAC sponsor Eagle Equity Partners and CEO Eli Baker.
The newly merged entity, Lionsgate Studios Corp., will be a publicly traded vehicle able to raise fresh capital and merge…
