Starz CEO Chris Albrecht says that the premium cable network will, once its merger with Lionsgate closes, be on its way to building a “global content powerhouse.”
In a memo to employees Friday, Albrecht wrote that the companies “will be merging the best resources and efforts of our businesses in order to create a world-class entertainment company.”
The main news to come out of the memo was that, as expected, Starz’ home entertainment and international TV divisions will be merged into Lionsgate’s existing operations.
Otherwise, Albrecht confirmed the management structure of post-merger Starz, which will continue to operate independently as a Lionsgate division. Chief Operating Officer Jeffrey Hirsch will continue to oversee affiliate sales, technology, program planning and other areas, with Chief Marketing Officer Alison Hoffman reporting to Hirsch.
Chief Financial Officer Scott Macdonald will step down effective May 1, as the financial operations are transferred to Lionsgate.
“The company’s leadership represents the best in the business with proven track records for delivering results,” Albrecht wrote. “We believe this leadership will guide us to be a global content powerhouse that gives the combined entity greater scale for attracting top-tier talent, creating platform-defining content and distributing it with an incredible array of options.”