8-K
filed May 7, 2025, 7:59 PM ET
ticker STRZ
CIK 0000929351
other material
confidence high
sentiment neutral
materiality 0.90
STARZ ENTERTAINMENT CORP /CN/ (STRZ): M&A transaction — Lions Gate completes separation into two public companies: LION (NYSE) and STRZ (Nasdaq)
STARZ ENTERTAINMENT CORP /CN/
- Each Old Lionsgate share converted into 1.12 New Lionsgate common and 1.12 Starz common; Starz shares consolidated 15:1.
- Starz entered new $300M term loan + $150M revolver credit facility maturing in 4 years; covenant step-down from 4.5x to 3.5x net leverage.
- Starz board appointed: Michael Burns (Chair), CEO Jeffrey A. Hirsch, CFO Scott Macdonald; former CEO Jon Feltheimer removed.
- Old Lionsgate shares delisted from NYSE, Legacy LG Studios from Nasdaq. New Lionsgate (LION) and Starz (STRZ) begin trading separately.
- Old credit agreement repaid in full and terminated; all commitments thereunder ended.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
STARZ ENTERTAINMENT CORP /CN/ incurred credit facility of $300.0 million senior secured term loan credit facility and a $150.0 million senior secured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR (subject to a 0.00% floor) or a base rate, in each case plus an applic maturing four years after the closing date of the facility.
- Instrument
- credit facility
- Principal
- $300.0 million senior secured term loan credit facility and a $150.0 million senior secured revolving credit facility
- Counterparty
- JPMorgan Chase Bank, N.A., as administrative agent
- Rate
- Term SOFR (subject to a 0.00% floor) or a base rate, in each case plus an applic
- Maturity
- four years after the closing date of the facility
- Event
- incurrence
Exact text from the filing
Starz entered into a new credit agreement (the “Credit Agreement”) with Starz Capital Holdings LLC, as borrower (the “Borrower”), the guarantors referred to therein, the lenders referred to therein and JPMorgan Chase Bank, N.A., as administrative agent. The Credit Agreement provides for (i) a $300.0 million senior secured term loan credit facility and (ii) a $150.0 million senior secured revolving credit facility.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Mignon L. Clyburn was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Jason Wyrick was appointed as Executive Vice President, Technology at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Executive Vice President, Technology
Exact text from the filing
Jason Wyrick Executive Vice President, Technology
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Audrey Lee was appointed as Executive Vice President, General Counsel and Secretary at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Executive Vice President, General Counsel and Secretary
Exact text from the filing
Audrey Lee Executive Vice President, General Counsel and Secretary
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Jeffrey A. Hirsch was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Emily Fine was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Alison Hoffman was appointed as President, Starz Networks at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- President, Starz Networks
Exact text from the filing
Alison Hoffman President, Starz Networks
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Lisa Gersh was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Dr. Marc Graboff was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Hardwick Simmons was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Jeffrey A. Hirsch was appointed as President and Chief Executive Officer at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
Jeffrey A. Hirsch President and Chief Executive Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Michael Burns was appointed as Non-Executive Chair at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Non-Executive Chair
Exact text from the filing
Michael Burns was appointed Non-Executive Chair of the Starz Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Scott Macdonald was appointed as Chief Financial Officer and Treasurer at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Chief Financial Officer and Treasurer
Exact text from the filing
Scott Macdonald Chief Financial Officer and Treasurer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Bruce Mann was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Harry E. Sloan was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Dr. Mark H. Rachesky was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Joshua W. Sapan was appointed as Director at STARZ ENTERTAINMENT CORP /CN/.
- Action
- appointed
- Role
- Director
Exact text from the filing
Starz’s notice of articles were amended to remove all directors of Starz and to name Michael Burns, Mignon L. Clyburn, Emily Fine, Lisa Gersh, Dr. Marc Graboff, Jeffrey A. Hirsch, Bruce Mann, Dr. Mark H. Rachesky, Joshua W. Sapan, Hardwick Simmons and Harry E. Sloan as the members of the Starz board of directors
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
STARZ ENTERTAINMENT CORP /CN/: Notice of articles of Starz were amended in their entirety in connection with the completion of the Transactions.
- Change
- charter amendment
Exact text from the filing
the notice of articles of Starz were amended in their entirety. Copies of Starz’s Articles and Notice of Articles are filed as Exhibits 3.1 and 3.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
STARZ ENTERTAINMENT CORP /CN/ completed a disposition involving Lionsgate Studios Corp. (New Lionsgate) (closed 2025-05-06).
- Action
- disposition
- Counterparty
- Lionsgate Studios Corp. (New Lionsgate)
- Closing
- 2025-05-06
Exact text from the filing
On May 6, 2025, pursuant to the Arrangement Agreement, Old Lionsgate completed the separation of the businesses of New Lionsgate and Starz through a series of transactions
View on SEC.gov
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