Starz Entertainment

Corporate History and Formation

The company that would become Starz Entertainment was founded on July 10, 1997, by Canadian financier Frank Giustra as Lions Gate Entertainment Corporation. Giustra, who had recently retired as CEO of Yorkton Securities, invested $16 million of his own capital, which was augmented by $40 million from other investors including Keyur Patel and Yorkton executives like G. Scott Paterson. The company was named for Vancouver's Lions Gate Bridge, reflecting its Canadian origins. To take the company public, Giustra merged it with the Toronto Stock Exchange-listed shell company Beringer Gold Corp., which had been founded in 1986. Lionsgate's initial strategy involved acquiring small production and distribution companies to enter the film industry, including Montreal-based Cinépix Film Properties, which became Lionsgate Films, and Vancouver's North Shore Studios. In its first year, the company reported revenue of $42.2 million but posted a net loss of $397,000, leading to a low share price that hampered further stock-based acquisitions.

Early corporate leadership saw Roman Doroniuk named president and chief operating officer in January 1999, which prompted a move of financial operations to his offices in Toronto while corporate headquarters remained in Vancouver. The company continued to struggle financially, registering a $9.3 million loss on $78.3 million in revenue in its second year, largely due to its investment in Mandalay Pictures. This period was marked by strategic shifts, including placing its studio assets up for sale and refocusing television operations on less risky, non-network hourlong series. To raise capital, Lionsgate filed a preliminary prospectus for the sale of preferred stock and secured a $13.4 million line of credit. The company's early acquisitions were funded through methods like issuing convertible promissory notes, such as the $2.75 million purchase of reality TV producer Termite Art Productions.

Expansion and Strategic Acquisitions (2000 to 2015)

A significant infusion of capital in January 2000, a $33.1 million investment from a group including Paul Allen and former Sony Pictures executive Jon Feltheimer, led to a leadership change. Feltheimer replaced Giustra as CEO, and under his direction, Lionsgate began a decade of aggressive expansion to build its distribution network and film library. A major step was the June 2000 acquisition of Trimark Holdings, Inc. for approximately $50 million in stock and cash, which included assuming $36 million in debt. This was followed by the important purchase of Artisan Entertainment on December 15, 2003, for $220 million, a deal that also prompted the company to relocate its headquarters from Marina del Rey to Artisan's offices in Santa Monica, California. Further international growth came with the 2005 acquisition of UK distributor Redbus Film Distribution for $35 million, which was rebranded as Lionsgate UK.

The company diversified its operations throughout the 2000s with several key moves. It sold its physical studio, Lions Gate Studios, in March 2006 and purchased independent television distributor Debmar-Mercury in July of that year. In 2007, it acquired Mandate Pictures for $56.3 million and established Lionsgate Music. The company entered the cable network business in January 2009 by purchasing TV Guide Network and TVGuide.com for $255 million in cash, though it later sold a 49% stake in those assets. A significant partnership was formed in September 2010 with Mexican media giant Televisa to create Pantelion Films, targeting the U.S. Latino market. The most significant acquisition of this era came on January 13, 2012, when Lionsgate announced it had acquired Summit Entertainment, the studio behind the Twilight Saga, for $412.5 million. This deal, coupled with the success of franchises like The Hunger Games, pushed Lionsgate's annual revenue over $1 billion for the first time in 2012.

Acquisition of Starz and Corporate Evolution

The path to becoming Starz Entertainment began with strategic investments from media mogul John C. Malone. In February 2015, Malone swapped a stake in Starz Inc. for shares in Lionsgate and joined its board. Later that year, Malone's Liberty Global and Discovery, Inc. made a joint investment of $195 to 400 million in Lionsgate. This set the stage for Lionsgate's agreement on June 30, 2016, to acquire Starz Inc. for $4.4 billion in cash and stock, a transaction that closed in December 2016, making Lionsgate the parent company of the premium cable network. The following years saw Lionsgate continue to expand its television production capabilities, acquiring a majority stake in Pilgrim Studios in November 2015 and a minority stake in British unscripted producer Primal Media in July 2016. Malone sold his remaining stake in the studio in October 2019.

In a move that re-established its Canadian presence, Lionsgate announced on August 3, 2023, that it would acquire the motion picture and television assets of Entertainment One (eOne) from Hasbro for $500 million. This deal, completed on December 27, 2023, included the trademarks of Maple Pictures, a Canadian distributor Lionsgate had previously owned and sold in 2011. eOne was subsequently rebranded as Lionsgate Canada. Concurrently, the company revealed a plan to separate its production studios from its Starz networks business. The Studios division merged with a special-purpose acquisition company to form Lionsgate Studios, which launched as a separate publicly traded company on May 14, 2024, with Starz Entertainment retaining an 87% controlling stake initially. The corporate separation was finalized on May 7, 2025, marking the official split between Lionsgate Studios and the networks business.

Rebranding to Starz Entertainment and Recent Strategy

Following the corporate separation, the company rebranded from Lionsgate to Starz Entertainment on November 28, 2024, to clearly distinguish itself from the production studio. Its stock was delisted from the New York Stock Exchange under the symbols LGF.A and LGF.B and began trading on the Nasdaq under the new ticker STRZ on May 7, 2025. As a standalone entity, Starz Entertainment's strategy has focused on growing its direct-to-consumer streaming business, increasing ownership of its original content, and pursuing strategic acquisitions. The company reported adding 530,000 streaming subscribers post-separation and has set a goal to own 50% of its original programming slate by 2027. Financially, Starz Entertainment reported revenue of $307.9 million for the quarter ended June 30, 2026, and increased its full-year 2026 outlook for Adjusted OIBDA and Unlevered Free Cash Flow.

Its market capitalization was approximately $407 million as of October 9, 2026, with a stock price of $23.70. The company has actively sought growth through distribution deals, such as an agreement reached with Verizon in October 2026, and has explored larger acquisitions. In late 2025, it was reported to be interested in bidding for A+E Global Media and the Global Linear Networks businesses of Warner Bros. Discovery, though the latter opportunity was rendered moot by another company's acquisition in February 2026. In a significant development in March 2026, media entrepreneur Byron Allen acquired an 11% stake in Starz Entertainment and stated his intention to launch a future takeover bid for the entire company. The company's financial strategy is tied to its digital pivot, expecting to reach $200 million in Adjusted OIBDA by year-end 2026 and convert 70% of that into free cash flow.

Business Divisions and Operations

The core of Starz Entertainment's business is its portfolio of premium television networks and streaming services. This includes the flagship Starz channel, its sister networks Starz Encore and MoviePlex, and associated streaming platforms. The company maintains an exclusive first-run film licensing agreement with Lionsgate Films. Beyond its main channels, Starz operates a suite of digital and FAST (free ad-supported streaming TV) channels, often through partnerships. These include a family of themed "Sphere" channels (MovieSphere, OuterSphere, HerSphere) and a channel programmed in joint venture with Ebony Media Group called "Ebony TV by Lionsgate." The company's distribution spans a wide range of digital OTT platforms and traditional multichannel video distributors, and it leverages an advanced technology and data analytics infrastructure to support its operations.

Starz Entertainment also oversees several specialized divisions and international ventures. Its video game development arm, Starz Interactive Ventures and Games (founded in April 2014 and headed by Peter Levin), produces multiplatform games based on company franchises, such as a Blair Witch game published in 2019. The company once operated Lionsgate Entertainment World, an indoor interactive experience centre based on film franchises like The Hunger Games, which opened in Zhuhai, China, in 2019. For distribution in Asia, the company formed Celestial Tiger Entertainment in 2008, a joint venture with Saban Capital Group and Celestial Pictures to oversee rights in Greater China and Southeast Asia. Selected non-in-house film distribution for pay-per-view and on-demand is handled in partnership with NBCUniversal Syndication Studios, while other content is distributed through Lionsgate's own syndicated division.

Content and Programming Strategy

Starz positions itself as a leading premium entertainment destination for women and underrepresented adult audiences, encapsulated in its brand message "We're All Adults Here." Its programming mix is designed for discerning viewers and includes a combination of boundary-breaking original series and a large library of blockbuster movies. The company's strategy emphasizes owning and controlling more of its original content to improve financial returns and creative control, with a target of 50% ownership by 2027. This shift is validated by the successful premiere of owned content like the series "Fightland." The content slate is diverse, spanning genres from historical drama and fantasy to contemporary thrillers and documentaries.

The company's notable and popular original series include several long-running and critically acclaimed titles. These series form the main part of Starz's subscriber appeal and brand identity. The company has developed a strong portfolio of original programming over the years. This content is a key driver for its subscription business. The success of these series helps define the company's market position.

• Outlander (2014 to present): The time-travel romance series, based on Diana Gabaldon's novels, follows Claire Randall and Jamie Fraser and has been a central part of the network's original programming.
• Spartacus (2010 to 2013): A stylized historical drama that gained a cult following for its intense action and storytelling.
• The Girlfriend Experience (2016 to 2021): An anthology series exploring the world of high-end transactional relationships.
• Men in Kilts: A Roadtrip with Sam and Graham (2021 to present): A travelogue series starring Outlander actors Sam Heughan and Graham McTavish.
• Mary & George (2024): A historical drama about a mother and son scheming in the court of King James I.
• The BMF Documentary: Blowing Money Fast (2023 to present): A docuseries exploring the Black Mafia Family.

In addition to series, Starz continues to license a large selection of recent theatrical films to complement its original offerings. This practice maintains its appeal as a comprehensive movie destination for its subscribers. The company has a history of acquiring film libraries and distribution rights. Licensing recent films is a core part of its content strategy. This approach ensures a diverse and updated catalogue for viewers.

Financial Performance and Key Metrics

As a publicly traded company following its separation, Starz Entertainment provides regular financial disclosures. For the second quarter of 2026, the company reported revenue of $307.9 million. Leadership expressed confidence in the company's trajectory, increasing its 2026 outlook for Adjusted OIBDA (Operating Income Before Depreciation and Amortization) and Unlevered Free Cash Flow. The company also reaffirmed a year-end leverage target of 2.7x. Key balance sheet metrics as of June 30, 2026, included a Total Adjusted OIBDA Leverage Ratio of 2.9x, calculated on a trailing twelve-month Adjusted OIBDA of $195.2 million. The company's market valuation stood at a $407 million market capitalization in October 2026, with 17.1 million shares outstanding.

The company's financial strategy is closely tied to its digital pivot. Starz expects to reach $200 million in Adjusted OIBDA by year-end 2026 and convert 70% of that into free cash flow. A major component of its revenue growth is OTT (over-the-top) streaming, which showed strong performance in 2026. The separation from the capital-intensive studios business has allowed Starz Entertainment to focus on its networks' profitability and cash flow generation. The company manages its content investments carefully, as evidenced by an April 2026 agreement to terminate certain live-action film licensing commitments, which helps control costs and align the film slate with strategic priorities.

Canadian Connections and Significance

Starz Entertainment maintains deep and varied ties to Canada, stemming from its founding and reinforced by recent acquisitions. The company was incorporated in Vancouver, British Columbia, in 1997 and its original name paid homage to the city's Lions Gate Bridge. Although its headquarters moved to California, it has continuously operated Canadian divisions. A major re-entry into the Canadian market occurred with the December 2023 acquisition of Entertainment One (eOne), a Toronto-founded film and television studio. This asset was rebranded as Lionsgate Canada in 2024, effectively bringing a major Canadian content producer and distributor back under the corporate umbrella and re-establishing the company's production roots in the country.

The company's operations directly impact the Canadian media industry through distribution and partnerships. Since January 2023, Starz Entertainment's film division has had a distribution deal with Cineplex Pictures, a subsidiary of Toronto-based Cineplex Entertainment, for the release of selected titles in Canadian theatres. The company's premium television networks, including Starz and Starz Encore, are available to Canadian subscribers through various cable, satellite, and streaming providers, making its original programming accessible nationwide. The historical acquisition of Montreal's Cinépix Film Properties in 1997, which formed the basis of Lionsgate Films, and the later ownership of Maple Pictures highlight the company's longstanding role in the Canadian film distribution business.

Questions about Starz Entertainment

What is Starz Entertainment and what does it own?

Starz Entertainment Corp. is a media company that owns and operates the Starz, Starz Encore, and MoviePlex premium television networks and their associated streaming services. It is the entity that resulted from the 2025 separation of the former Lionsgate company, spinning off the film and television production studios. Its key assets include the Starz streaming platform, a library of original series and licensed movies, and Lionsgate Canada, the Canadian production and distribution unit formerly known as Entertainment One (eOne). The company is publicly traded on the Nasdaq under the ticker symbol STRZ.

What are some of the most popular shows on Starz?

Starz has built its brand on a slate of popular and long-running original series. Its most well-known show is the historical time-travel drama Outlander, which has aired since 2014. The crime drama Power and its various spinoffs have also been major hits for the network. Other notable series include the historical action drama Spartacus, the anthology series The Girlfriend Experience, and the travel show Men in Kilts. More recent additions include dramas like Mary & George and documentary series like The BMF Documentary: Blowing Money Fast. The network's programming is specifically targeted at adult audiences.

How is Starz Entertainment connected to Canada?

Starz Entertainment has significant Canadian connections. It was founded in Vancouver, British Columbia, in 1997 and was originally named after the city's Lions Gate Bridge. Its most substantial recent link is the acquisition of Entertainment One (eOne) in December 2023, a major Canadian film and TV studio founded in Toronto. This asset was rebranded as Lionsgate Canada. The company also has a film distribution deal with Cineplex Pictures for the Canadian theatrical market. Historically, it acquired Montreal-based Cinépix Film Properties in 1997, which became Lionsgate Films, and it once owned the Canadian distributor Maple Pictures.

Who owns Starz Entertainment?

Starz Entertainment is a publicly owned company, with its shares trading on the Nasdaq stock exchange. As of March 2026, a notable shareholder is media entrepreneur Byron Allen, who acquired an 11% stake in the company and has stated an intention to launch a takeover bid in the future. Prior to its separation and public listing, it was a controlled subsidiary of Lionsgate, which owned 87% of the studios business after the initial spin-off in 2024. The company is led by President and CEO Jeffrey Hirsch.

Can I watch Starz in Canada?

Yes, Starz programming is available in Canada. The Starz and Starz Encore linear television channels are offered by various Canadian cable and satellite television providers. The Starz streaming service is accessible as a standalone subscription or as part of certain TV service bundles through Canadian distributors. The company's content also reaches Canadian audiences through its ownership of Lionsgate Canada (formerly eOne), which produces and distributes content within the country, and through its theatrical distribution partnership with Cineplex.

When did Lionsgate become Starz Entertainment?

Lionsgate rebranded to Starz Entertainment on November 28, 2024. This change was implemented to clearly distinguish the standalone networks and streaming business from the separate production entity, Lionsgate Studios. The formal corporate separation was part of a planned restructuring that began with the acquisition of Entertainment One in late 2023. The legal and financial separation was finalized on May 7, 2025, when Starz Entertainment began trading on the Nasdaq under the stock symbol STRZ. This completed the process of creating two distinct, publicly traded companies from the former Lionsgate corporate structure.

Sources and further reading

• Starz Entertainment (Wikipedia)
• Starz.com (starz.com)
• Starz Entertainment Corp. Reports Results for the Second ... (prnewswire.com)

Checked by the Yadude Books desk. Last updated 2026-10-29.