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“We’re predator, until we’re prey,” he told the Goldman Sachs Communacopia Conference during a session that was webcast. Burns said Lionsgate continued to covet scale, including with the recent deals for the Starz premium channel and 3 Arts Entertainment, to keep its options open in today’s media space.
“We do believe that we need to be bigger,” he argued, as Lionsgate remains in the hunt for new acquisitions. “We really are a predator for the moment, or maybe we will turn to prey or maybe we will continue to gobble up companies. No one has a crystal ball,” Burns added.
The studio exec singled the recent partnership with the Los Angeles-based talent management firm 3 Arts Entertainment to get closer to Hollywood talent and content creators to feed the Starz premium cable channel and OTT pipeline as it grows internationally.
“So the idea that we’re a buyer and a seller, and have this giant platform in the OTT space, that puts us in a very unique position,” Burns argued.
Burns added, “You’re seeing the convergence going a little slower than I would have thought, but that could accelerate quickly.”
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