SCHEDULE 13D/A: Liberty Global Amends SEC Filing, Names Bruce Mann as Starz Board Designee Post-Separation
Beneficial Ownership Amendment
Liberty Global has filed an Amendment No. 9 to its Schedule 13D, disclosing its beneficial ownership in Lions Gate Entertainment Corp. and correcting information regarding its board designee for Starz post-separation.
Summary
- Liberty Global Ltd. and Liberty Global Ventures Limited collectively beneficially own 4,049,972 Class A Voting Shares of Lions Gate Entertainment Corp., representing 4.8% of the outstanding shares.
- This filing is Amendment No. 9 to the original Schedule 13D filed on November 20, 2015.
- The amendment specifically corrects and supplements Item 6, stating that Bruce Mann will be Liberty Global's initial designee on the Starz Board upon the consummation of the Separation Transactions.
- The beneficial ownership percentage is based on 83,691,063 Voting Shares outstanding as of January 17, 2025, as reported by Lions Gate Entertainment Corp. in a Form S-4 filing on January 27, 2025.
- The reported beneficial ownership does not include 20,233,455 Voting Shares held by MHR Fund Management LLC and Mark H. Rachesky, nor 2,500,000 Voting Shares held by a subsidiary of Warner Bros. Discovery, Inc., of which Liberty Global may be deemed to have beneficial ownership due to a Voting and Standstill Agreement.
Sentiment
Score: 5
Explanation: The document is a routine compliance filing (Schedule 13D/A) that updates beneficial ownership information and corrects a detail regarding a future board appointment. It contains no financial performance data, strategic shifts, or other information that would typically elicit a strong positive or negative sentiment. Its nature is purely informational and regulatory.
Future Outlook
The document states that Bruce Mann will be the initial designee on the Starz Board "Upon consummation of the Separation Transactions," indicating a future change contingent on these transactions.
Industry Context
This filing relates to the media and entertainment industry, specifically concerning Lions Gate Entertainment Corp. (a film and television studio) and Starz (a premium cable and streaming service). Liberty Global's continued significant stake and board representation indicate its ongoing strategic interest in the content sector, potentially aligning with broader trends of consolidation or strategic partnerships in media.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Starz Board Designee | N/A | Bruce Mann | Upon consummation of the Separation Transactions | Initial designee of Liberty Global following Separation Transactions. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Board Representation | Liberty Global will designate Bruce Mann as its initial representative on the Starz Board upon the completion of the Separation Transactions. | Upon consummation of the Separation Transactions | Ensures Liberty Global's continued influence and oversight on the Starz Board post-separation, reflecting its significant beneficial ownership and strategic interest. |
Stakeholder Impact
- Shareholders: Provides updated information on Liberty Global's beneficial ownership and its future board representation on Starz, which could be relevant for understanding governance and strategic alignment.
- Management: Clarifies the future board composition of Starz post-separation.
Next Steps
- Consummation of the Separation Transactions, after which Bruce Mann will become the initial designee on the Starz Board.
Key Dates
| Date | Description |
|---|---|
| 2015-11-20 | Original Schedule 13D filed by Reporting Persons. |
| 2016-06-30 | Amendment No. 1 filed. |
| 2017-02-10 | Amendment No. 2 filed. |
| 2019-09-03 | Amendment No. 3 filed. |
| 2019-09-06 | Amendment No. 4 filed. |
| 2020-09-08 | Amendment No. 5 filed. |
| 2020-09-18 | Amendment No. 6 filed. |
| 2024-05-15 | Amendment No. 7 filed. |
| 2025-01-17 | Date as of which 83,691,063 Voting Shares of Lions Gate Entertainment Corp. were outstanding. |
| 2025-01-27 | Date of event requiring filing of this statement; also date of Lions Gate Entertainment Corp.'s Form S-4 filing. |
| 2025-01-29 | Amendment No. 8 filed; also date of signatures for this Amendment No. 9. |
Keywords
Liberty Global, Lions Gate Entertainment Corp., Schedule 13D, SEC filing, Class A Voting Shares, beneficial ownership, Starz Board, Bruce Mann, Separation Transactions, MHR Fund Management, Warner Bros. Discovery
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