Lionsgate Acquires Subscription Channel Starz

Lionsgate has closed a deal to acquire subscription channel Starz for $4.4 billion, reports Mashable.

The report says the deal is a combination of stock and cash, and merges the studio with one of the biggest pay-for cable channels.

In a press release, both Lionsgate and Starz tout a library of 16,000 films and shows and tens of millions of cable subscribers.

"Together, Lionsgate and Starz form an entertainment powerhouse with a world-renowned studio that produces blockbuster movies and channels with must-have programming that will be able to capitalize on content opportunities across multiple platforms," said Starz chairman Greg Maffei in a statement.

Starz boasts popular series like Power, The Girlfriend Experience and Outlander, among others.