Liberty's John Malone Trims Lionsgate Stake
According to an SEC filing, the billionaire investor recently sold 1.44 million shares, bringing his holding to 4.98 percent.
Billionaire investor John Malone has trimmed his stake in Lionsgate to 4.98 percent.
In an SEC filing on Monday, Malone, chairman of Liberty Media and Liberty Global, among other media companies, revealed he sold around 1.44 million class A shares in the studio between Aug. 19 and Sept. 6.
The reduced stake for Malone coincides with Liberty Global on Friday indicating in a separate SEC filing that it has raised its own holding in Lionsgate to 4.9 percent.
Malone in February 2015 exchanged some of his Starz shares for a 3.43 percent stake in Lionsgate and a seat in its boardroom, and in 2016, his stake in Lionsgate went from 3.43 percent to 8.1 percent as the Hollywood studio merged with Starz. But Malone has since been reducing his stake in Lionsgate and last year stepped down from the studio's board.
News of the exec's latest Lionsgate stock sale comes a day before the studio holds its annual shareholders meeting in Vancouver, where it is headquartered.