Great British Bake Off judge Dame Prue Leith hopes Scotland will “lead the way” by passing new laws on assisted dying.
03.11.2023 - 19:57 / deadline.com
Starz plans to lay off 10% of its staff and exiting the UK and Australia ahead of its separation next year from Lionsgate.
The news was relayed to employees today in a memo from CEO Jeffrey Hirsch and confirmed to Deadline by a person familiar with the moves.
Starz was acquired by Lionsgate in 2016 for $4.4 billion, but the parent company has explored a number of strategic scenarios for it over the past couple of years. The final separation plan, which has been delayed in recent months for several reasons, is set to take effect early in 2024, making the two companies separate publicly traded entities.
After investing in an ambitious plan to expand its streaming service around the world, Starz has been narrowing its scope in recent months. Last summer, Lionsgate announced Starz would exit Latin America, though at that time it was expected that the UK would remain a core territory along with the U.S. and Canada.
Unlike longtime premium rivals HBO and Showtime making the leap from linear to streaming, Starz has zeroed in on a strategy to secure its place as a complementary service, rather than an all-in-one would-be replacement for pay-TV. It reported having 26.3 million subscribers as of the midway point in this year. Most of its subscribers are now in the streaming market, rather than on linear TV.
MORE to come …
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Great British Bake Off judge Dame Prue Leith hopes Scotland will “lead the way” by passing new laws on assisted dying.
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Selome Hailu As Starz prepares to separate from parent company Lionsgate in 2024, it will reduce its staff size by 10%. Starz will also cease business operations in the U.K.
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Jacob Elordi plays Elvis Presley in Sofia Coppola‘s Priscilla, a film that chronicles the life of Priscilla Presley and the King of Rock ‘n’ Roll.
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