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Starz to become publicly traded company

The Starz logo.

Liberty Media announced plans to spin Starz off into its own publicly-traded company. The move is designed to increase the network's profile, maybe to the point of competing directly with Showtime and HBO.
 
Starz already has announced, prior to this news, plans to increase its original programing. 
 
Liberty, which also owns portions of Sirius XM and Live Nation, is drastically trying to shore up its bottom line.

"We are pleased to announce our plan to separate the assets of Liberty Media and Starz, creating two separate asset-backed stocks," said Liberty CEO Gregg Maffei.

Maffei said the transaction will provide better transparency on the Starz operating business;  allow easier pursuit of strategic objectives, including creating two currencies that could be used for acquisitions; and more.

Starz airs original programing such as Boss and Spartacus, as well as the hyped-upcoming Da Vinci's Demons.

Starz had 20.7 million subscribers at the end of the quarter.

Encore is also part of the Starz family.

Personally, I'm not a fan of Starz. I haven't seen Boss and I've heard good things, but the channel, its movies and original programing all come off as low-rent to me. I'd love to see them rise to the level of Showtime and HBO, but it seems like a real uphill climb. And this news seems to be more out of desperation than a sound, strategic business plan. Just my two cents.

Do you watch Starz? What do you think of this news? 

Source: Variety


Details
Network:
- encore.
- starz

Written by: Hamatosan
Aug 8th, 2012, 3:15 am

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