Executives of a major studio and Starz met Tuesday, Sept. 23, 2014, to discuss a possible acquisition of the premium cable movie service, reports Meg James in the Los Angeles Times’ Company Town blog.
The studio is Rupert Murdoch’s 21st Century Fox, the story says.
According to the report, Starz Chief Executive Chris Albrecht and investment bankers held the discussion with Fox executives at the company’s studio lot in Los Angeles. The report cites three people familiar with the meeting who asked not to be identified because they were not authorized to discuss the matter.
The story adds that a “full acquisition of the company could be valued at more than $3.2 billion based on its share price of $29.58 Tuesday. Fox could also decide to take an ownership stake instead of buying Starz outright.”
Fox took the meeting as a courtesy, a source told the Times.
The story notes that Starz includes the Encore movie channel, adding: “Together the two channels boast 56 million subscribers, more than Time Warner’s HBO and Cinemax.”
To read more about this story, please click on the link, above, which will take you to the original Company Town article.