Activist investor Anson takes stake in Lionsgate Studios, might push on the market, Bloomberg Information stories

(Reuters) -Activist investor Anson Funds Administration has taken a stake in Lionsgate Studios and is urging the corporate to think about a spread of choices, together with a possible sale, Bloomberg Information reported on Tuesday, citing Sagar Gupta, the agency’s head of activism.

The event comes at a time when Lionsgate — which went public this yr through a particular objective acquisition firm — is dealing with company governance points and box-office underperformance, together with the latest flop of Megalopolis.

“We all the time welcome the concepts and enter of our shareholders,” a Lionsgate spokesperson informed Reuters.

Anson Funds didn’t instantly reply to a request for a remark.

Gupta mentioned that the studio behind The Starvation Video games and John Wick is undervalued and may take into account choices after it completes a separation from the Starz cable and streaming service, Bloomberg added.

Lionsgate would enchantment as a takeover goal to conventional and digital media firms, together with main expertise and synthetic intelligence gamers, the report mentioned.

It additionally added that Lionsgate might take into account potential divestitures, together with its unscripted tv and three Arts companies, based on Anson Funds.

Anson has additionally recommended that Lionsgate ought to pursue various income streams, similar to diving additional into merchandising and occasions like Broadway exhibits, and enhance its monetary disclosures, Bloomberg mentioned.