starz - b (STRZB) Key Developments
Starz Announces Major New Partnership with T-Mobile
Nov 10 15
Starz announced a major new partnership with T-Mobile, allowing STARZ subscribers to watch all of the great STARZ Original series, including “Ash vs Evil Dead,” “Power” and “Outlander,” and exclusive hit movies on their smartphones and other mobile devices through STARZ PLAY, the authenticated online TV Everywhere service for STARZ premium subscribers, without ever eating into their LTE data. The partnership also extends the same benefit to ENCORE and MOVIEPLEX subscribers with the companion ENCORE PLAY and MOVIEPLEX PLAY TV Everywhere services. In addition, prospective STARZ, ENCORE, and MOVIEPLEX subscribers will enjoy the same benefit when viewing STARZ Original series sampled on STARZ.com, in addition to other Starz-hosted digital platforms.
Rosen Law Firm Files Securities Class Action Lawsuit against Starz
Nov 9 15
Rosen Law Firm announced that it has filed a class action lawsuit on behalf of purchasers of Starz securities from August 1, 2014 through October 29, 2015, all dates inclusive. The lawsuit seeks to recover damages Starz investors under the federal securities laws. According to the lawsuit, throughout the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose that: Starz lacked adequate internal controls; according to a former Starz senior executive, Starz's contract with Comcast Corporation was a result of illicit business practices; and as a result, Starz's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Former Executive Sues Starz over Termination
Nov 2 15
Starz is facing a lawsuit from a former executive accusing the company of firing him in retaliation for complaining about the company's alleged unethical actions. In the lawsuit filed in Los Angeles Superior Court, Keno Thomas reportedly claimed that he was dismissed as a senior vice president of sales and affiliate marketing after he refused to inflate revenue and subscriber figures and complained about the illegal influence of Liberty Media Corp. on Starz's deals. Thomas, who also named Starz CEO Chris Albrecht and Liberty Media as defendants in the case, added that he was dismissed after a three-week medical leave.
Starz Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
Oct 30 15
Starz announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total revenue of $404.1 million against $408.2 million a year ago. Operating income was $101.8 million against $97.3 million a year ago. Income before income taxes was $85.8 million against $84.4 million a year ago. Net income attributable to stockholders was $60.2 million against $56.3 million a year ago. Diluted net income per common share was $0.56 against $0.51 a year ago. Adjusted OIBDA was $114.7 million against $109.8 million a year ago.
For the nine months, the company reported total revenue of $1,272.5 million against $1,238.3 million a year ago. Operating income was $354.8 million against $315.6 million a year ago. Income before income taxes was $312 million against $290.9 million a year ago. Net income attributable to stockholders was $208.2 million against $191.3 million a year ago. Diluted net income per common share was $1.95 against $1.69 a year ago. Net cash provided by operating activities was $88.5 million against $107.2 million a year ago. Purchases of property and equipment were $9.4 million against $5.9 million a year ago.
Lions Gate Entertainment In Talks To Acquire Starz
Oct 5 15
Lions Gate Entertainment Corp. (NYSE:LGF) is reportedly in advanced talks to merge with Starz (NasdaqGS:STRZ.A) Los Angeles Times reported, citing sources. The two companies have held high-level talks for several months and have also considered a variety of partnerships, a source told the newspaper. Starz and Lions Gate were not immediately available for comment.