Lionsgate Mulls 3 Arts Entertainment Acquisition

Jon Feltheimer - H 2015
AP Images/Invision

Jon Feltheimer - H 2015

3 Arts, a Los Angeles-based management firm, has approached multiple possible suitors.

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.