Lionsgate is the next Hollywood name that could change hands, with a new report suggesting Legendary has tabled a formal offer. The ink has barely dried on the Paramount and Skydance acquisition of Warner Bros yet, and already there’s chatter about what the next step in Hollywood’s mass consolidation is likely to be. We might ... Lionsgate | Legendary Entertainment bids for studio in potential next big Hollywood transaction
Lionsgate is the next Hollywood name that could change hands, with a new report suggesting Legendary has tabled a formal offer.
The ink has barely dried on the Paramount and Skydance acquisition of Warner Bros yet, and already there’s chatter about what the next step in Hollywood’s mass consolidation is likely to be. We might have an answer to that too, with the news that Lionsgate might just be back up for sale.
This very weekend, Lionsgate releases Ghosts: The Haunting Of Button House in UK cinemas, with a brand new The Hunger Games film around the corner. But it’s become a takeover target for Legendary Entertainment.
To a degree, this isn’t new news. Lionsgate has been rumoured to be for sale on and off for a few years now, and Legendary has been in the running for at least a year. Its own funds have been swollen by its success with A Minecraft Movie and the Dune franchise.
Bloomberg is now reporting that an undisclosed formal offer has been submitted for Lionsgate, although both parties are remaining mum on it for the time being. For those concerned about another studio potentially being taken off the Hollywood board, at least in the case of Legendary it retains an interest in actually making movies, and a studio outlet would be a logical step for the company. That said, takeovers still usually mean job losses, and as per normal, there’s a whole bunch of people on the nervous side at the moment.
Netflix would potentially be another candidate for Lionsgate should this go for some kind of bidding war, but the streamer has distanced itself from a move for the company in the past. Furthermore, there’s no guarantee that a sale will go through anyway.
Yet it appears that there’s definitely movement here, and Lionsgate’s future may well be decided over the coming months. We’ll keep you posted as we hear more.
