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After recent M&A chatter suggesting Lionsgate may be interested in being a seller, the studio may be ready to turn buyer.
Lionsgate is looking at acquiring 3 Arts Entertainment, sources confirm to The Hollywood Reporter.
3 Arts has been mulling a sale for some time and has approached multiple possible suitors. A Lionsgate spokesman declined comment when asked about discussions between the studio and 3 Arts.
Top executives at Lionsgate have recently talked about being more aggressive in pursuing creative talent to exploit ownership rights, especially after acquiring Starz to get deeper into television. Acquiring 3 Arts would help to get Lionsgate’s TV division closer to comedy talent in particular and attract more and better creative talent overall.
Launched in 1991, 3 Arts has a client roster underpinning a production slate that includes TV properties like Unbreakable Kimmy Schmidt, Silicon Valley, Baskets, It’s Always Sunny in Philadelphia and The Mindy Project.
A possible run for 3 Arts follows renewed industry consolidation after Walt Disney’s potential $52.4 billion deal for Fox assets and AT&T’s $85.4 billion bid for Time Warner.
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