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UPDATE 1-Lionsgate signs $4.6-billion SPAC deal for studio business

Reuters · 12/22/2023 13:25

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UPDATE 1-Lionsgate signs $4.6-billion SPAC deal for studio business

Adds details of deal throughout

Dec 22 (Reuters) - Blank check firm Screaming Eagle Acquisition Corp SCRM.O said on Friday it has agreed to merge with the studio business of entertainment company Lionsgate LGFa.N in a deal valued at about $4.6 billion.

The deal is expected to deliver about $350 million in gross proceeds to Lionsgate, including $175 million from a private investment in public equity and the remaining from the special purpose acquisition company's trust account.

The studio business, Lionsgate Studios Corp, holds a library of popular content including "The Hunger Games", "John Wick", "The Twilight Saga" and "Ghosts".

The company expects the deal to close in the spring of 2024.

(Reporting by Manya Saini in Bengaluru; Editing by Pooja Desai)

((Manya.Saini@thomsonreuters.com;))

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