Liberty Strategic Capital, a private-equity firm led by former Treasury Secretary Steven T. Mnuchin, disclosed a 5.5% stake in Lions Gate Entertainment.
A private-equity firm led by former Treasury Secretary Steven T. Mnuchin just disclosed it bought a large stake in the studio behind the John Wick and Hunger Games movie franchises.
Subsidiaries of Mnuchin’s Liberty Strategic Capital bought 2.5 million additional class A shares of Lions Gate Entertainment Aug. 10 through 30 for a total of $18 million. The average price was $7.27. The purchase lifted Liberty’s overall ownership to 4.6 million Lions Gate shares, a 5.5% stake. Crossing the 5% threshold triggered a requirement for Liberty to disclose its stake to the Securities and Exchange Commission. Liberty filed on a 13D form, which is typically used by activist investors to indicate they plan some role in meeting with the company’s management to suggest changes.
Liberty’s filing indicated that it may make suggestions or proposals regarding Lions Gate to management or other investors in the company. Mnuchin’s firm said that Lions Gate’s proposal of a spin-off of its studio business as a separate public company could be a topic of discussion.Newsletter Sign-up Lions Gate stock crumbled 66% in 2022, though they have gotten some mojo back this year. The stock had a year-to-date gain of about 39% to $7.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
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