Welcome to our dedicated page for Screaming Eagle Acquisition news (Ticker: SCRM), a resource for investors and traders seeking the latest updates and insights on Screaming Eagle Acquisition stock.
Screaming Eagle Acquisition Corp. (Nasdaq: SCRM) is a publicly traded company formed with the purpose of merging with existing businesses to create added value and operational synergies. As of December 22, 2023, Screaming Eagle announced a significant transaction with Lionsgate, a major player in the film and television industry. This merger aims to launch Lionsgate Studios Corp. as a standalone, publicly-traded content company.
The new Lionsgate Studios will integrate Lionsgate's Television Studio and Motion Picture Group segments, boasting a rich portfolio of franchise properties such as The Hunger Games, John Wick, The Twilight Saga, and Ghosts. This merger brings together one of the world's most valuable film and television libraries, enhancing both production and distribution capabilities.
Post-transaction, Lionsgate is expected to hold approximately 87.3% of Lionsgate Studios, while Screaming Eagle's public shareholders, founders, and common equity financing investors will own around 12.7% of the combined entity. The deal values Lionsgate Studios at an enterprise value of approximately $4.6 billion and is projected to deliver gross proceeds of $350 million to Lionsgate, including $175 million in committed PIPE financing.
The transaction, expected to close in spring 2024, is set to enhance Lionsgate's financial growth trajectory and strategic initiatives, including the acquisition of eOne. Common shares of Lionsgate Studios will trade separately from Lionsgate's Class A and Class B shares under a single class of stock, subject to regulatory and shareholder approvals.
Recent Highlights:
- Lionsgate's CEO Jon Feltheimer and Vice Chair Michael Burns emphasized the deal's potential to create one of the world's largest pure play content platforms.
- Screaming Eagle's CEO Eli Baker expressed enthusiasm about the innovative nature of the merger, highlighting its value-creating potential.
- The merger is expected to deliver significant incremental value to stakeholders, aligning with Lionsgate's strategic goals.
- Key financial advisors for the transaction include Morgan Stanley, Citigroup, and PJT Partners, while legal advisories are provided by Wachtell, Lipton, Rosen & Katz, Denton's Canada LLP, White & Case LLP, and Goodmans LLP.
- The merger is structured to support Lionsgate's overarching goal of separating its Studio and STARZ businesses, targeting a full separation by the end of 2024.
With this merger, Screaming Eagle Acquisition Corp. continues to demonstrate its strategic acumen in identifying and executing high-value business combinations, positioning itself as a key player in the evolving entertainment industry.
Lionsgate announced that Lionsgate Studios will launch on May 14, trading on NASDAQ under the symbol LION. This move makes Lionsgate Studios one of the world's largest standalone, publicly-traded content companies, raising $350 million from top investors. The transaction was facilitated by merging with Screaming Eagle Acquisition Corp, valuing Lionsgate Studios at $4.6 billion.
Lionsgate Studios will include the Motion Picture Group, Television Studio segments, and a library of over 20,000 titles, but excludes the STARZ platform. As a result, 87.2% of the shares will be held by Lionsgate, with the remaining 12.8% held by Screaming Eagle's shareholders and common equity investors. The full separation of Lionsgate and STARZ is expected by the end of 2024.
Screaming Eagle Acquisition Corp. announced that holders of its initial public offering units may begin trading Class A ordinary shares and warrants separately starting February 28, 2022. The offering completed on January 10, 2022, involved 75 million units that will continue to trade under the symbol "SCRMU." The Class A shares and warrants will trade under the symbols "SCRM" and "SCRMW," respectively. The Company aims at business combinations across various industries, leveraging its management team's global experience.
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