Leading Starz shareholder John Malone earns seat on the Lionsgate board as the latter seeks to boost its TV business.

The stock swap transaction will see Lionsgate control roughly 4.51% of Starz common stock and 14.5% of voting shares, while Starz gets 3.43% of Lionsgate common stock.

Liberty Media chairman John Malone will remain Starz’ leading shareholder with an approximately 6.1% equity interest and approximately 32.1% of the total voting power of Starz.

Malone will join the Lionsgate board once the transaction is complete and called Lionsgate “one of the most exciting content companies in the industry.”

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