Does Lionsgate’s Deal With Starz Makes Sense? Yes, For John Malone

Wall Street has voted on Lionsgate’s $4.4 billion agreement to acquire Starz and here’s the verdict: Liberty Media’s John Malone won. Shares of Starz, which he controls, are up 5.5% since just before yesterday’s announcement while Lionsgate’s down 5.0%. To be sure, this is a familiar pattern in acquisitions. Sellers benefit from the certainty of a payout. Buyers often take a hit as investors question whether the bet will pay off. Yet Starz owners are especially relieved…

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