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LGF

Use LGF.A, LGF.B

$23.06

-0.31 (-1.33%)

, STRZA

Starz

$33.68

0.03 (0.09%)

16:46
11/28/16
11/28
16:46
11/28/16
16:46

Lions Gate enters stipulation of settlement over Starz deal litigation

In a regulatory filing, Lions Gate (LGF) said that, on November 23, it and other defendants in the Levy v. Malone et al. litigation entered into a stipulation of settlement with the plaintiff providing for the settlement of the action. The stipulation contemplates, among other things, that Lions Gate will make certain supplemental disclosures relating to the proposed merger of Orion Arm Acquisition with and into Starz (STRZA). Although Lions Gate and the other defendants deny the allegations made in the Action and believe that no supplemental disclosure is required under applicable laws, in order to avoid the burden and expense of further litigation, Lions Gate agreed to make such supplemental disclosures pursuant to the terms of the Stipulation. The Stipulation is subject to customary conditions, including court approval following notice to Lions Gate's stockholders. A hearing will be scheduled at which the New York state court will consider the fairness, reasonableness and adequacy of the settlement. If the settlement is finally approved by the court, it will resolve and release all claims by stockholders of Lions Gate challenging any aspect of the proposed Merger, the Merger Agreement and any disclosure made in connection therewith, pursuant to terms that will be disclosed to stockholders prior to final approval of the settlement. There can be no assurance that the court will approve the settlement contemplated by the Stipulation. In such event, the proposed settlement as contemplated by the Stipulation may be terminated and the defendants would continue to vigorously defend against the allegations in the Action.

LGF

Use LGF.A, LGF.B

$23.06

-0.31 (-1.33%)

STRZA

Starz

$33.68

0.03 (0.09%)

LGF Use LGF.A, LGF.B
$23.06

-0.31 (-1.33%)

10/28/16
STFL
10/28/16
UPGRADE
STFL
Buy
Starz upgraded on subscriber data, cost outlook at Stifel
As noted earlier, Stifel analyst Benjamin Mogil upgraded Starz (STRZA) to Buy from Hold. Mogil notes that the company reported higher than expected revenue from subscribers in Q3 and indicated that its costs would be lower than expected for the full year. Target to $36 from $33. Mogil also upgraded Lionsgate (LGF), with whom Starz has agreed to merge, to Buy from Hold.
10/31/16
MSCO
10/31/16
INITIATION
Target $25
MSCO
Overweight
Lionsgate initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Ryan Fiftal initiated Lionsgate (LGF) with an Overweight and a $25 price target. The analyst said shares have been hit due to film underperformance and the recent Starz (STRZA), resulting in favorable risk/reward. The analyst sees opex synergies, healthy TV studio growth, and recent Starz top line strength from new, higher margin digital distribution.
11/04/16
RBCM
11/04/16
UPGRADE
RBCM
Outperform
Lionsgate upgraded to Outperform from Sector Perform at RBC Capital
RBC Capital analyst Steven Cahall upgraded Lionsgate (LGF) as he believes that the market has not adequately appreciated the cash synergies produced by the company's merger with Starz (STRZA). He says that Lionsgate is "significantly undervalued." Target to $31 from $24.
11/04/16
PACS
11/04/16
NO CHANGE
PACS
Lionsgate results positive, says Pacific Crest
Pacific Crest analyst Evan Wingren says that Lionsgate's in-line results and guidance are positive, given its multiple negative revisions over the past year. The analyst says that the company "is relatively well-positioned" versus its media peers, while the shares are "relatively cheap." He recommends owning the stock.
STRZA Starz
$33.68

0.03 (0.09%)

10/28/16
STFL
10/28/16
UPGRADE
STFL
Buy
Starz upgraded to Buy from Hold at Stifel
10/28/16
10/28/16
NO CHANGE

Lionsgate upgraded on Starz results at Stifel
As noted earlier, Stifel analyst Benjamin Mogil upgraded Lionsgate (LGF) to Buy from Hold. He upgraded the stock based on the better than expected subscriber data and lower than expected cost guidance of Starz (STRZA) with whom Lionsgate has agreed to merge. The analyst says that Starz will contribute 70% of Lionsgate's EBITDA after the merger. Lionsgate price target to $26 from $22.

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