Legendary Submits Takeover Offer for Lionsgate as Shares Rise

Legendary Entertainment has submitted a takeover offer for Lionsgate Studios Corp., reviving its pursuit of the competing studio and lifting Lionsgate shares Tuesday, Oct. 20.

Legendary, which is backed by Apollo Global Management, first approached Lionsgate in 2025. The submitted offer is a further step in that effort.

Lionsgate completed its separation from Starz Entertainment on May 7, 2025. The split established the studio business and Starz as independent publicly traded companies. Legendary’s earlier interest emerged that July, after the separation.

Lionsgate shares rose as the renewed takeover effort came to light. The proposed acquisition centers on Lionsgate’s standalone studio business.