50 Cent Wants To Buy Starz Network
Last week, reports emerged about Lionsgate possibly selling the network. 50 Cent, who has produced multiple hit shows for Starz, threw his hat into the ring as a potential buyer via social media.
“I’m gonna look into buying the STARZ network,” he wrote in a comment on Instagram.
50 Cent made the remark after reacting to a story about Lionsgate’s stock gains. He questioned the company’s desire to sell Starz and took credit for its success.
“WTF is this,” he captioned a screenshot of the article. “No Raising Kanan, No BMF, what do you think made their stock jump ? I gave them two hits back to back Smh these people be crazy, smart as hell but no common sense.”
Lionsgate acquired Starz for $4.4 billion in 2016. The network is available as both a premium television channel – similar to HBO and Showtime – and a streaming service.
According to a regulatory filing, Lionsgate officially began exploring the possibility of selling Starz on November 2.
“The Company’s Board of Directors authorized the Company’s management team to explore potential capital markets alternatives for its Media Networks business (STARZ) including, but not limited to, a full or partial spin-off, split-off, issuance of a tracking stock or other transactions,” the filing read.
50 Cent began working with Starz as a producer of the crime drama Power. The show premiered in 2014 and spawned two spin-offs with a third due out in 2022.