secwatch.observer — SEC 8-K summary
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Issuer:     STARZ ENTERTAINMENT CORP /CN/ (STRZ)
CIK:        0000929351
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001193125-25-114510
Event type: other_material
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.03, 1.02, 2.01, 3.01, 5.01, 3.03, 5.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lions Gate completes separation into two public companies: LION (NYSE) and STRZ (Nasdaq)
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/929351/000119312525114510/0001193125-25-114510-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/929351/000119312525114510/d864362d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-114510

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