No one seems to want the pay-TV channel Starz. Bloomberg reports that the network, which has about 56 million subscribers and is controlled by John Malone, is considering alternatives after it failed to find a buyer.
Starz reached out to potential bidders — including CBS, Lions Gate Entertainment, AMC Networks and 21st Century Fox — and all passed on making an offer because they thought the channel was overvalued, Bloomberg said, citing sources who are familiar with the situation.
One concern of the potential buyers was Starz’s programming plans, in the wake of the acquisition by Netflix of exclusive U.S. rights to Walt Disney Co. movies beginning in 2016. Starz currently has those movie rights.
In lieu of finding a buyer, Starz may now turn to investments and partnerships with other media companies, Bloomberg said.
The report notes that subscriptions to Starz-owned Encore have been steadily declining over the past five quarters, from 35.1 million to 33.7 million, as of the end of September.