MGM to Acquire Full Ownership of Epix From Lionsgate, Viacom for $1 Billion

by Paige Albiniak  |  04.05.2017

MGM will acquire Viacom’s and Lionsgate’s collective 80.91% interest in premium pay-TV network Epix for $1 billion, the three companies said Wednesday.

“The addition of EPIX provides MGM with a premier distribution platform that complements our strong stable of new and library content in both film and television. The acquisition creates increased revenue diversity, new opportunities for growth, and earnings accretion for the benefit of stockholders,” said Gary Barber, Chairman and CEO of MGM in a statement.

The deal will give MGM control over Epix’s four linear pay-TV channels: Epix, Epix2, Epix Hits and Epix Drive-In.

Epix offers a large selection of theatrical films, as well as original series Berlin Station and Graves. This year, Get Shorty, an original series based on the film, will premiere.

Late last year, Lionsgate completed its $4.4 billion acquisition of Epix competitor Starz. At the time, industry speculation was that the company was likely to exit Epix.

RELATED: Lionsgate to Buy Starz for $4.4 Billion

Viacom is undergoing a reorganization under new CEO Bob Bakish, which includes shedding some of the company’s non-core assets.

“As Viacom executes against its new strategy, we welcome the opportunity to strengthen our balance sheet by realizing the value of our equity investment, while also extending the successful commercial partnership between Epix and Paramount Pictures with a new multi-year output agreement,” said Bakish in a statement.

RELATED: Viacom to Regroup, Focus on Six Key Channels

[Image of Berlin Station courtesy of Variety]

← Back

New from Daily Brief

Brett Ratner Comes on Board PromaxBDA: The Conference 2017 as Keynote Speaker
Joins previously announced keynote speakers, including Justin Simien, creator of Netflix’s "Dear White People"; The Black List’s Franklin Leonard; "Master of None"’s Lena Waithe; Viceland President and GM Guy Slattery; E!’s and Esquire President Adam Stotsky and many more.
‘Claws’ Brings New Meaning to a Trip to the Nail Salon
“Who do you think we are? Some multi-ethnic steel magnolia trash from Palmetto?”
‘Sunday Night with Megyn Kelly’ Promises ‘Sharp, Strong Journalism’
NBC debuted first promo for host’s news magazine show premiering in June.
With help from creative agency Dutch Toast, IFC showcases its favorite rappers-turned-actors in all-day marathon.
Life Moves on Without Rayna James on CMT’s ‘Nashville’
Connie Britton may be gone, but all the drama is not.
First Look at Epix’s ‘Get Shorty’
Dark comedy is reimagined with Chris O’Dowd and Ray Romano.
Jun 5
The Conference 2017
Jun 8
PromaxBDA Promotion, Marketing and Design North America Awards 2017
Jun 8
PromaxBDA Promotion, Marketing and Design Global Excellence Awards 2017
Jun 19
Station Summit 2017
Jun 22
The PromaxBDA Awards at Station Summit
FG|PG Advertisement Power Your Career Advertisement