Returning to our list of top insider purchases this week is a familiar face, embroiled in a variety of special situations. We last wrote about the studio and streaming business, Lions Gate Entertainment Corp. (LGF.B), in our January 2023 monthly newsletter, stating the following:
Ramping up a streaming service is incredibly difficult and unprofitable as traditional media companies are starting to realize. In the battle for customer acquisition and retention, content remains king and explains why Amazon was willing to pay $8.5 billion to acquire MGM’s studio division. One of the few independent studio companies that is still around is Lions Gate Entertainment, which is especially known for its large and incredibly valuable content library – comprised of over 17,000 films and TV series.