Discontinued Operations (Tables)

9 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations

Income (loss) from discontinued operations of the Starz Business consists of the following:


	Three Months Ended		Nine Months Ended
	December 31,		December 31,
	2024		2025		2024
	(Amounts in millions)
Revenues	$	342.3	$	127.3	$	1,034.7
Expenses:
Direct operating	169.6		71.7		480.6
Distribution and marketing	94.3		26.3		297.8
General and administration	20.2		10.0		65.6
Depreciation and amortization	39.4		19.6		122.2
Restructuring and other	10.8		15.1		7.0
Total expenses	334.3		142.7		973.2
Operating income (loss)	8.0		(15.4)		61.5
Interest expense	(5.4)		(0.4)		(17.1)
Interest and other income	—		—		0.1
Other expenses	(1.7)		(0.6)		(5.4)
Loss on extinguishment of debt	—		—		(2.2)
Income (loss) from discontinued operations before income taxes	0.9		(16.4)		36.9
Income tax benefit (provision)	0.3		(0.1)		(2.2)
Net income (loss) from discontinued operations, net of income taxes	$	1.2	$	(16.5)	$	34.7

Lionsgate has separately reported the assets and liabilities of the discontinued operations of the Starz Business in its unaudited condensed consolidated balance sheet as of March 31, 2025. These assets and liabilities consist of the following:


	March 31, 2025
	(Amounts in millions)
ASSETS
Cash and cash equivalents	$	11.2
Accounts receivable, net	50.9
Other current assets	13.7
Total current assets - discontinued operations	75.8
Investment in films and television programs and program rights, net	918.9
Property and equipment, net	48.6
Intangible assets, net	816.0
Other assets	40.1
Total assets - discontinued operations	$	1,899.4

LIABILITIES
Accounts payable	$	53.6
Content related payables	99.3
Other accrued liabilities	40.9
Residuals	27.7
Film related obligations	90.9
Deferred revenue	38.4
Total current liabilities - discontinued operations	350.8
Debt	318.3
Other liabilities	75.7
Deferred tax liabilities	7.2
Total liabilities - discontinued operations	$	752.0

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Lionsgate Studios Corp. 10-Q