STARZ ENTERTAINMENT CORP /CN/

Separation Prior to the Separation, as defined and further discussed below, Starz Entertainment Corp. (the Starz Business ) substantially consisted of Lions Gate Entertainment Corp's ( Old Lionsgate or Parent ) Media Networks segment consisting of (i) Starz Networks, which includes the domestic distribution of STARZ branded premium subscription video services through over-the-top ( OTT ) streaming platforms and distributors, on a direct-to-consumer basis through the Starz App and through wholesale U.S. and Canada OTT and multichannel video programming distributors ( MVPDs ), including cable operators, satellite television providers and telecommunications companies (in the aggregate the Starz Platform ), and (ii) International, which at that time primarily consisted of the OTT distribution of subscription video services outside the U.S. and Canada. On May 6, 2025, Old Lionsgate, through a series of transactions contemplated by the arrangement agreement, dated as of January 29, 2025, as amended by an agreement, dated as of March 12, 2025 (as amended, the "Arrangement Agreement") completed the separation of the businesses (the LG Studios Business ) of Lionsgate Studios Corp. ("Legacy Lionsgate Studios"), from the Starz Business (the Separation ). As a result of the Arrangement Agreement, the pre-transaction shareholders of Old Lionsgate own shares in two separately traded public companies: (1) Old Lionsgate, which was renamed Starz Entertainment Corp.