Today it was reported by The Information that CBS has made an informal offer to buy Starz. Starz is currently owned by Lionsgate and competes with CBS’s Showtime network. Now it seems that CBS wants to own STARZ to help expand its share of the premium cable TV channels to take on HBO.
According to reports, CBS is offering $5 billion to buy STARZ from Lions Gate Entertainment Group also know as Lionsgate. Details are still thin but it looks like CBS wants access to both STARZ creative team and the huge catalog of movies STARZ owns the rights to. Right now STARZ has streaming rights to recent movies like Spide-Man, VENOM, Jumanji, The Other Guys, to name a few.
According to The Information, the offer is an informal one likely aimed at starting talks. At this stage, both sides could easily back out or it may not go anywhere. If this deal goes through it will be one more example of the consolidation happening in what is seen as the traditional TV world.
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