Lionsgate Stock Jumps on Report Legendary Submitted a New Takeover Offer
Variety • • entertainment
Key Points:
- Legendary Entertainment has revived its bid to acquire Lionsgate, causing Lionsgate shares to surge over 15% and raising its market cap to $3.6 billion, according to a Bloomberg report citing anonymous sources.
- A merger with Lionsgate could enable Legendary to self-distribute its films, enhancing its control over production and distribution.
- Lionsgate, known for franchises like John Wick, Hunger Games, and Saw, recently saw a 48% revenue increase in Q2 2026, driven by the success of the Michael Jackson biopic "Michael," despite a net loss of $28.8 million.
- Legendary, controlled by Apollo Global Management and having recently bought out Chinese conglomerate Dalian Wanda Group's stake, had previously expressed interest in Lionsgate following the Starz spinoff in 2025.
- Lionsgate is set to report its fiscal Q2 2027 financial results on November 5, which may impact the ongoing acquisition discussions.
