Starz to Lay Off Over 10% of Staff and Exit UK, Australia Markets Ahead of Early 2024 Separation from Lionsgate

Strategic layoffs and market exits to coincide with restructuring as cable network aims to adapt to industry changes and prepares to become an independent company in 2024.

• Starz is set to reduce its workforce by 10% as part of its transition into an independent company, separating from its former parent company Lionsgate in early 2024.
• The cable network will cease operations in the U.K. and Australia, following previous announcements of exiting the Latin American market as part of strategic changes to align the business operations with its growth sectors.
• The restructuring and layoffs at Starz are aimed to prepare the firm for its next phase as a standalone company and to adapt to the changing industry environment.
• Originally set for September 2023, the split from Lionsgate has been delayed due to uncertainties surrounding Lionsgate’s acquisition of eOne and ongoing labor strikes.
• After the split, Lionsgate's film and TV studio will become an independent entity, while Starz will remain part of the existing company.

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