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Lionsgate Studios Owns John Wick And Hunger Games—Could Big Tech Come Calling?

Lionsgate Studios (LION) has suddenly found itself at the center of a much bigger Hollywood question: could one of the industry’s best-known collections of franchises ultimately be worth more inside a larger technology or streaming platform? Activist investor Anson Funds has reportedly renewed its push for Lionsgate to explore a sale or reposition itself for the AI era, arguing that recent transactions show major platforms are increasingly willing to own premium intellectual property rather than simply license it. Yet the takeover case is far from straightforward. Lionsgate says it has not engaged in substantive discussions with potential buyers, Netflix was reportedly not interested in an acquisition, and Banijay recently decided against pursuing the company. At the same time, Lionsgate’s latest quarter showed stronger revenue, free cash flow and deleveraging, while management repeatedly emphasized the growing value of its franchises, library and strategic optionality.