MGM to buy 81 percent of Epix for $1.03 billion

Reuters News
Posted: Apr 05, 2017 4:58 PM

(Reuters) - MGM Holdings Inc said it would acquire the 81 percent of Epix it does not already own from two of its partners in the premium U.S. channel, Viacom Inc and Lionsgate Entertainment Corp, for about $1.03 billion.

Viacom has a 50 percent stake in Epix, while Lionsgate holds 31.2 percent.

The deal would give MGM, a privately held U.S. movie studio best known for its classic film library, control of Epix and would be a boon to its TV business, as it seeks to build a stronger platform to distribute its content.

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Anil D'Silva)