Shares of Lionsgate surged over 15% on Tuesday following reports from Bloomberg that Legendary Entertainment has revived its bid to acquire the production company. This renewed interest from Legendary comes as discussions around potential mergers in the entertainment industry heat up.
Legendary’s Acquisition Bid
According to anonymous sources cited by Bloomberg, Legendary has submitted a takeover offer for Lionsgate, although details regarding the offer’s price have not been disclosed. Should the acquisition proceed, it could enable Legendary to self-distribute its films, enhancing its operational capabilities and market position.
Responses and Interest from Other Companies
Representatives for both Legendary and Lionsgate have chosen not to comment on the reported takeover offer. Beyond Legendary, other companies like Banijay and Mediawan have shown interest in Lionsgate, though they have not made formal offers. Notably, Banijay recently merged with All3Media and is now operating as Banijay Entertainment.
Contextual Background on Lionsgate and Legendary
This isn’t the first time Legendary has sought to acquire Lionsgate. Last year, following the spin-off of Starz, the production company explored potential partnerships with Lionsgate Studios, which includes its extensive library of over 20,000 titles. Lionsgate Studios became a standalone entity after its separation from the Starz business in May 2025.
In 2024, Legendary further consolidated its position by acquiring the stake previously held by Chinese conglomerate Dalian Wanda Group. This move, in conjunction with the investment from private-equity firm Apollo Global Management—who acquired a $760 million stake in Legendary in 2022—places Legendary in a position of significant control within the industry.
