Lionsgate signs $4.6-billion SPAC deal for studio business (updated)

Lions Gate Entertainment

22/12/2023 13:25

(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;))