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Starz to Sell 25% Stake in Media Unit to Weinstein

Starz to Sell 25% Stake in Media Unit to Weinstein
John Malone’s Starz LLC agreed to sell a 25 percent stake in its Starz Media LLC home- entertainment unit to Weinstein Co. Photographer: Matthew Staver/Bloomberg

Jan. 4 (Bloomberg) -- John Malone’s Starz LLC agreed to sell a 25 percent stake in its Starz Media LLC home-entertainment unit to Weinstein Co.

Under a separate agreement, Starz’s Anchor Bay Entertainment will distribute Weinstein movies in Blu-ray, DVD and digital formats, the companies said today in a statement. Terms weren’t disclosed.

The agreements provide a home-video outlet for films distributed by New York-based Weinstein, the independent studio founded by brothers Bob and Harvey Weinstein in 2005. Starz will distribute their movies including the drama “The King’s Speech,” nominated for six Golden Globe awards, and the “Scary Movie” horror-film spoofs franchise.

Ron Hofmann, an outside spokesman for Weinstein Co., didn’t immediately return a call requesting comment. Eric Becker, a Starz spokesman, declined to comment beyond the statement.

The distribution agreement doesn’t include television rights to the films, the companies said. Starz, a unit of Liberty Media LLC, is based in Englewood, Colorado.

To contact the reporter on this story: Michael White in Los Angeles at mwhite8@bloomberg.net.

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net.

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