Warner Bros. Discovery, Inc. sold STRZ
May 6, 2025 · Form 4 insider transaction
Warner Bros. Discovery, Inc. sold 2,500,000 shares of Starz Entertainment Corp., a transaction worth N/A. The trade was recorded as j and disclosed on an SEC Form 4, filed 2 days after the transaction.
Footnotes
On May 6, 2025, Lions Gate Entertainment Corp. ("LGEC") completed the separation of its motion picture and television studio operations businesses from its other businesses through a series of transactions (the "Transactions"). In connection with the completion of the Transactions, Lions Gate Entertainment Corp. was renamed Starz Entertainment Corp. (the "Issuer"). Pursuant to the Transactions, following a series of exchanges, among other things, (1) each Class A voting share, no par value, of LGEC ("Class A Voting Shares") was ultimately exchanged for one and twelve one-hundredths (1.12) common shares, no par value, of the Issuer ("Common Shares") and (2) each Class B non-voting share, no par value, of LGEC ("Class B Non-Voting Shares") was ultimately exchanged for one (1) Common Share.; The shares are held directly by Discovery Lightning Investments Ltd. ("DLI"). Because DLI is an indirect wholly-owned subsidiary of Warner Bros. Discovery, Inc. ("WBD"), WBD may be deemed to beneficially own the reported securities. WBD expressly disclaims beneficial ownership of the reported securities, except to the extent of its pecuniary interest therein.