MGM Holdings is in talks to acquire the 81 percent of Epix it does not already own from two of its partners in the premium U.S. channel, Viacom and Lionsgate, people familiar with the matter said on Thursday. (Reuters)
A deal, thought to be announced as early as next week, hinges on an overall valuation for Epix, thought to be in the $1 billion-$2 billion range. (THR)
The deal would boost MGM’s burgeoning TV business by adding the premium cable network. The company is investing more in content, it said in its full-year earnings report this week. (Bloomberg)
Lionsgate had been thought to be considering shedding its stake in Epix after it paid $4.4 billion last year for competing premium TV network Starz, which counted 24.3 million subscribers as of Dec. 31. Meanwhile, Viacom has been looking to sell non-core assets, as new CEO Bob Bakish said at the Deutsche Bank 2017 Media & Telecom Conference this week. (The Wrap)