MGM in Talks to Acquire Epix Premium Cable Network (Report)
The mini-major studio currently owns about 19 percent of Epix
Matt Pressberg | March 9, 2017 @ 6:01 PM
Last Updated: March 9, 2017 @ 6:05 PM
MGM/Epix
MGM is in talks to acquire all of premium cable network Epix from the premium cable network’s other owners, Viacom and Lionsgate, Reuters reported Thursday.
Viacom currently owns 50 percent of Epix, the newest of the major premium TV channels which launched in 2009.
Lionsgate has a nearly 32 percent stake, while MGM has the remaining piece. MGM’s deal to buy out its partners would value Epix at between $1 billion and $2 billion, according to the Reuters report.
Epix, which also includes a streaming service, has about 8.8 million subscribers, according to TV research firm SNL Kagan.
Lionsgate had been thought to be considering shedding its stake in Epix after it acquired paid $4.4 billion last year for competing premium TV network Starz, which counted 24.3 million subscribers as of Dec. 31.
Meanwhile, Viacom has been looking to sell non-core assets, as new CEO Bob Bakish said at the Deutsche Bank 2017 Media & Telecom Conference this week.
On Wednesday, MGM reported full-year earnings results for 2016, posting a profit 3 percent higher than the guidance the company gave last fall.
While revenue was down 24 percent from 2015 due to the lack of a James Bond movie and “Ben-Hur” bombing at the box office last summer, MGM’s TV revenue jumped 48 percent year-over-year.
The company’s adjusted EBITDA — a profit measure that backs out non-operational expenses like interest and taxes — soared 125 percent.
13 TV Winners and Losers of 2016, From James Corden to Billy Bush (Photos)
Win some, lose some -- right, 2016? Scroll through our gallery to see 13 of TV's biggest winners and losers of the calendar year.
Winner: NBC While CBS claimed the traditional fall and spring television season -- thanks in large part to Super Bowl 50 -- it was another 52-week TV ratings win for NBC. Obviously the Summer Olympics didn't hurt, and NBC is poised to keep it up, thanks to the huge launch of "This Is Us," the fall's biggest freshman show.
Loser: ABC ABC has been struggling mightily in the Nielsen numbers. As a direct result, Paul Lee was pulled from his Entertainment chief post, replaced by Channing Dungey.
Winner: HBO It was another great Emmys season for HBO, which swept the best series categories with "Game of Thrones" (Drama) and "Veep" (Comedy). Plus, love or it not, the launch of new series "Westworld" has kept the pay-TV channel in the conversation through December.
Loser: NFL football Thus far, this has mostly been an NFL season to forget. Primetime games have been particularly bad, and most "Thursday Night Football" match-ups haven't even been watchable. That, plus perhaps a few too many rules changes have sent NFL TV ratings in the wrong direction -- just hope for a memorable playoffs at this point.
Winner: "Grease: Live" Just when we thought live TV musicals couldn't get any more fun than "The Wiz Live," they definitely did. Fox's "Grease: Live" was simply awesome, incorporating crowds, weather and a giant campus to play with. NBC's "Hairspray Live!" paled in comparison.
Loser: Thomas Gibson Ain't life a kick in the shins sometimes? Thomas Gibson literally lost something this year -- his longtime gig on CBS hit "Criminal Minds." The parting of ways wasn't his choice, and it all came about after a run-in with a producer. And by "run-in," we mean Gibson's foot into the other guy's leg.
Winner: Cable news Election season is always a boon to cable news channels. Throw in Donald Trump, and Nielsen can't count the viewers quickly enough. Mix in an actual Trump victory, and the TV ratings will carry on through the holidays.
Loser: Billy Bush OK, so it wasn't just Thomas Gibson who lost a gig this year -- and Billy Bush's booting by NBC's "Today" show was even more high-profile. In case you somehow forget, Bush was the laughing hyena in Donald Trump's "grab 'em by the p---y" conversation.
Winner: FX miniseries Here's how good FX's "The People v. O.J. Simpson" was -- it completely overshadowed an excellent "Fargo" Season 2 (ignoring that weird spaceship stuff).
Loser: Viacom Did you not see this one coming? What a disaster 2016 has been for Viacom. Most of the year saw Sumner Redstone and Philippe Dauman squabbling through the media and court system. Eventually Dauman was bought out and replaced -- twice. Here's to 2017.
Winner: James Corden This has undoubtedly been the year of James Corden. The CBS "Late Late Show" host has gone from a relative unknown to one of TV's biggest darlings. The internet loves the "Carpool Karaoke" driver too, and the multi-hyphenate has already graduated from the Tonys to the Grammys.
Loser: Roger Ailes After a flurry of sexual harassment allegations, Fox News boss Roger Ailes was handed a giant check and his walking papers. Can one still be a loser if given $40 million to retire? In this case, yes.
Winner: Netflix Let's end this on a happy note, shall we? Netflix just keeps killing it, and 2016 has been no exception. The streaming giant started the year with some strong "Making a Murderer" carryover. It then added a bunch of promising series to its original lineup, like "Fuller House," "Black Mirror," "Luke Cage" and "Stranger Things."