'Starz To Lay Off More Than 10% Of Employees Ahead Of Lionsgate Spinoff' - CNBC
Portfolio Pulse from Benzinga Newsdesk
Starz, a premium network and streaming service, is planning to lay off more than 10% of its employees and exit the UK and Australia markets ahead of its separation from Lionsgate's studio in the first quarter. The move is aimed at aligning the organization with growth areas and preparing it for its next chapter as a standalone company. Starz ended last quarter with about 12 million domestic streaming subscribers and about 20 million total customers.
November 03, 2023 | 4:00 pm
News sentiment analysis
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NEGATIVE IMPACT
Lionsgate's spinoff of Starz could potentially impact its stock as it indicates a significant change in the company's structure. The layoffs at Starz might also affect investor sentiment.
The spinoff of Starz from Lionsgate represents a significant change in the company's structure, which could lead to uncertainty and potentially negatively impact the stock. Additionally, the layoffs at Starz might be seen as a negative sign by investors, further affecting the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Similar to LGF.A, the spinoff of Starz from Lionsgate and the layoffs at Starz could potentially impact LGF.B's stock as it indicates a significant change in the company's structure.
The spinoff of Starz from Lionsgate represents a significant change in the company's structure, which could lead to uncertainty and potentially negatively impact the stock. Additionally, the layoffs at Starz might be seen as a negative sign by investors, further affecting the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100