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Report: MGM in Talks to Purchase Epix Stakes - Broadcasting & Cable

Report: MGM in Talks to Purchase Epix Stakes

Viacom, Lionsgate negotiating to sell interest in premium net
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MGM is in early talks with Viacom and Lionsgate to purchase their stakes in Epix, in a deal that would value the premium channel at between $1 billion and $2 billion, according to Reuters.

Reuters added that it was still early in the talks, so completion of the deal is not guaranteed. MGM already owns an 18.8% interest in the channel.

But Viacom and Lionsgate, which own 50% and 31.2% of the movie channel, respectively, have been hinting about a sale for months. Last year Lionsgate CEO Jon Feltheimer said the content company was having “conversations” with its partners about its Epix stake, adding that the premium channel was not a strategic platform for the company. Lionsgate’s interest in the channel waned especially after it purchased rival premium network Starz for $4.4 billion in June.

Viacom also has been a motivated seller as it has looked to streamline and sell off non-essential assets.

For the full story go to Multichannel.com.

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