ENGLEWOOD, Colo.,
Aug. 1, 2013
/PRNewswire/ -- Starz (NASDAQ: STRZA, STRZB) today reported
second quarter 2013 results. Highlights include
(1):
- Achieved revenue increases of 29%, Adjusted
OIBDA(2) of 19% and operating income of 16%
- Increased STARZ subscriptions by 5% and ENCORE
subscriptions by 3% to 21.8 million and 35.1 million, respectively
since June 30, 2012
- Since March 31, 2013,
increased STARZ subscriptions by 1% while ENCORE subscriptions were
essentially flat
- 56.9 million combined subscriptions; leads U.S. premium
television category
- Entered into new long-term affiliation agreement with
Time Warner Cable
- Reached 52 million HHs with STARZ PLAY and ENCORE PLAY
nationwide
- Recent launches by Time Warner Cable, Bright House, and
Cablevision
- Greenlit new STARZ Original series "Outlander" with Sony
Pictures Television for air in 2014
- Greenlit new STARZ Original series "Power" from executive
producer Curtis "50 Cent" Jackson for
air in 2014
- Repurchased 4.1 million shares from May 1 to July 31, 2013; since
trading began on January 14, 2013,
Starz has repurchased 4.2% of its outstanding shares
- Entered into major movie library agreements with
Twentieth Century Fox and MGM
(Logo: http://photos.prnewswire.com/prnh/20080522/LATH063LOGO-b)
Chris Albrecht, Starz Chief
Executive Officer said, "Starz delivered solid operational and
financial performance in the second quarter. We
achieved a new all-time subscriber high at STARZ with nearly 22
million subscribers. We are also very pleased
with the new, multi-year multi-platform distribution agreement with
Time Warner Cable. Opportunities exist to grow
our premium business with Time Warner Cable, and the subsequent
launch of STARZ PLAY and ENCORE PLAY will assist in those
efforts. Our plan for original programming is
increasing in both quality and scale thanks to the recent
greenlight of both 'Outlander' and 'Power,' with both dramatic
series expected to have their STARZ premieres in
2014. With 'The White Queen' debuting this month
and drawing strong buzz domestically and abroad, we are well
positioned to continue momentum with our original programming
heading into 2014 where five series are now scheduled to air on our
flagship network, led off by 'Black Sails' which we have already
renewed for a second season."
Revenue increased 29% to $517.4
million and Adjusted OIBDA increased 19% to $129.5 million for the second
quarter. Operating income increased 16% to
$116.1 million.
At Starz Networks, certain contractual terms under
affiliation agreements with two distributors resulted in a one-time
recognition of $18.6 million of
previously deferred revenue. Revenue at Starz
Distribution increased as a result of an increase in the number and
performance of titles distributed for The Weinstein Company
("TWC"). A decrease in inter-segment
eliminations also contributed to the increase in
revenue. Lower revenue at Starz Animation
partially offset these increases due to fewer projects in
production at the company's Film Roman studio.
The increase in Adjusted OIBDA for the quarter was
primarily due to the recognition of deferred revenue by Starz
Networks and the increase in the number and performance of TWC
titles distributed by Starz Distribution as mentioned above.
Such increases were partially offset by an
increase in advertising and marketing costs due to the premiere of
two original series during the 2013 quarter as compared to one
series in the 2012 quarter, increased cooperative marketing efforts
with our distributors and marketing costs associated with the TWC
titles. Fewer projects in production at the
company's Film Roman studio and lower inter-segment eliminations
also offset the Starz Networks and Starz Distribution
increases.
In addition to the changes in Adjusted OIBDA described
above, operating income was impacted by an increase in stock
compensation expense during the quarter.
Cash paid for investment in films and television programs
decreased 26% to $49.3 million for
the quarter. The decrease was due to timing of
payments for certain TWC titles and timing of cash spend related to
our original programming.
Share Repurchases
From May 1, 2013 through July
31, 2013, 4.1 million shares of Series A common stock
(NASDAQ: STRZA) were purchased at an average cost per share of
$22.75 for total cash consideration
of $92.7 million.
Since trading began on January 14,
2013, Starz has repurchased 4.2% of our outstanding
shares.
FOOTNOTES
(1)
|
Starz CEO, Christopher Albrecht, will discuss these
highlights and other matters during the Starz earnings conference
call which will begin at 12:00 p.m. (ET) on August 1,
2013. For information
regarding how to access the call, please see "Important Notice"
later in this document.
|
(2)
|
For a definition of Adjusted OIBDA and applicable
reconciliation see Non-GAAP Financial Measures and Schedule 1
below.
|
NOTES
- Unless otherwise noted, the foregoing discussion compares
financial information for the three months ended June 30, 2013 to the same period in
2012.
- In January 2013, Starz
(formerly known as Liberty Media Corporation ("Old LMC")) completed
the spin off (the "LMC Spin-Off") of its wholly-owned subsidiary
Liberty Media Corporation (formerly known as Liberty Spinco, Inc.
("Liberty Media")) in a tax-free manner through the distribution,
by means of a dividend, of shares of Liberty Media's common stock
to holders of Old LMC common stock. In this distribution, each
holder of a share of Old LMC common stock received one share of the
corresponding series of Liberty Media common stock. Following the
LMC Spin-Off, Starz retained the businesses of its wholly-owned
subsidiary, Starz, LLC, and all other businesses, assets and
liabilities of Old LMC are included in Liberty Media. Unless the
context otherwise requires, Old LMC is used when events or
circumstances being described occurred prior to the LMC Spin-Off
and Starz is used when events or circumstances being described
occurred following the LMC Spin-Off.
- In accordance with generally accepted accounting
principles ("GAAP"), Liberty Media was determined to be the
accounting successor to Old LMC for financial reporting purposes
following the LMC Spin-Off due to the relative significance of
Liberty Media to Starz (which is the legal spinnor) and the
continued involvement of Old LMC's senior management with Liberty
Media following the LMC Spin-Off. Accordingly, the historical
financial statements of Old LMC prior to the LMC Spin-Off will
continue to be the historical financial statements of Liberty Media
and Starz's historical financial information is deemed to be the
financial information of Starz, LLC. The financial statements of
Starz reflect Starz, LLC on a historical cost basis. Starz, LLC is
the only directly owned subsidiary of Starz which in turn owns
either directly or indirectly various operating subsidiaries. Starz
is a holding company with no assets or liabilities of its own or
operations other than those of Starz, LLC. Accordingly, the
financial position, results of operations, comprehensive income and
cash flows of Starz and Starz, LLC are identical.
- In connection with the LMC Spin-Off, Starz, LLC
distributed $1.8 billion in cash to
Old LMC which was funded by a combination of cash on hand and
$550.0 million of borrowings under
Starz, LLC's senior secured revolving credit facility. The
$1.8 billion was paid as follows:
$100.0 million on July 9, 2012, $250.0
million on August 17, 2012,
$50.0 million on September 4, 2012, $200.0
million on November 16, 2012
and $1.2 billion on January 10, 2013. Such distributed cash was
contributed to Liberty Media prior to the LMC Spin-Off.
Additionally, in connection with the LMC Spin-Off, Starz, LLC
distributed its Englewood,
Colorado corporate office building and related building
improvements to Old LMC (and Old LMC transferred such building and
related improvements to Liberty Property Holdings, Inc. ("LPH"), a
subsidiary of Liberty Media) and then leased back the use of such
facilities from LPH. Following the LMC Spin-Off, Liberty Media and
Starz operate independently, and neither have any stock ownership,
beneficial or otherwise, in the other.
SUPPLEMENTAL INFORMATION
As a
supplement to Starz's condensed consolidated statements of
operations, to be included in its Form 10-Q, the following is a
presentation of quarterly financial information and operating
metrics for the periods indicated.
Please see definition of Adjusted OIBDA below and a
discussion of why management believes the presentation of Adjusted
OIBDA provides useful information for investors.
Schedule 1 to this press release provides a reconciliation of
Adjusted OIBDA to operating income for the same periods, as
determined under GAAP.
QUARTERLY SUMMARY
(amounts in millions)
|
2Q12
|
3Q12
|
4Q12
|
1Q13
|
2Q13
|
Starz Networks
|
$
318.9
|
$
317.9
|
$
315.8
|
$
315.8
|
$
340.0
|
Starz Distribution (1)
|
76.2
|
75.0
|
97.0
|
76.2
|
171.9
|
Starz Animation
|
10.1
|
10.1
|
10.9
|
7.5
|
6.6
|
Eliminations
|
(2.6)
|
(2.0)
|
(1.5)
|
(0.2)
|
(1.1)
|
Revenue
|
$
402.6
|
$
401.0
|
$
422.2
|
$
399.3
|
$
517.4
|
|
|
|
|
|
|
Starz Networks
|
$
98.9
|
$
111.6
|
$
121.1
|
$
114.4
|
$
116.5
|
Starz Distribution
|
9.4
|
(3.7)
|
(19.8)
|
2.6
|
14.5
|
Starz Animation
|
(0.2)
|
(0.4)
|
(0.4)
|
(0.6)
|
(0.8)
|
Eliminations
|
0.4
|
0.6
|
0.5
|
0.1
|
(0.7)
|
Adjusted OIBDA
|
$
108.5
|
$
108.1
|
$
101.4
|
$
116.5
|
$
129.5
|
|
|
|
|
|
|
Operating income
|
$
100.3
|
$
99.5
|
$
85.6
|
$
104.9
|
$
116.1
|
|
|
|
|
|
|
Starz Networks
|
$
30.9
|
$
47.4
|
$
69.1
|
$
33.6
|
$
23.1
|
Starz Distribution
|
35.6
|
18.5
|
20.0
|
24.4
|
26.2
|
Total IFT (2)
|
$
66.5
|
$
65.9
|
$
89.1
|
$
58.0
|
$
49.3
|
|
|
|
|
|
|
Subscription units – STARZ
|
20.7
|
20.8
|
21.2
|
21.6
|
21.8
|
Subscription units – ENCORE
|
34.2
|
34.3
|
34.8
|
35.1
|
35.1
|
|
|
|
|
|
|
(1)
Includes the following home video net
sales
|
$
40.9
|
$
54.7
|
$
78.3
|
$
49.8
|
$
126.3
|
(2) Cash paid for
investment in films
and television programs
|
|
|
|
|
|
CASH AND DEBT
The following presentation
is provided to separately identify cash and debt
information.
(amounts in millions)
|
3/31/2013
|
6/30/2013
|
Cash
|
$
17.9
|
$
30.9
|
|
|
|
Debt:
|
|
|
Bank facility
|
$
235.0
|
$
257.0
|
5% senior notes
|
678.4
|
678.3
|
Transponder capital lease
|
33.8
|
32.8
|
Building capital lease
|
44.7
|
44.5
|
Total
debt
|
$
991.9
|
$
1,012.6
|
|
|
|
NON-GAAP FINANCIAL MEASURES
This press release includes a presentation of Adjusted
OIBDA, which is a non-GAAP financial measure, together with a
reconciliation to operating income, as determined under
GAAP. We define Adjusted OIBDA as: revenue less
programming costs, production and acquisition costs, home video
cost of sales, operating expenses, and selling, general and
administrative expenses. Our chief operating decision maker uses
this measure of performance in conjunction with other measures to
evaluate our operating segments' performance and make decisions
about allocating resources among our operating segments. We believe
that Adjusted OIBDA is an important indicator of the operational
strength and performance of our operating segments, including each
operating segment's ability to assist in servicing our debt and to
fund investments in films and television programs. In addition,
this measure allows management to view operating results and
perform analytical comparisons and benchmarking between operating
segments and identify strategies to improve performance. This
measure of performance excludes stock compensation and depreciation
and amortization that are included in the measurement of operating
income pursuant to GAAP. Accordingly, Adjusted OIBDA should be
considered in addition to, but not as a substitute for, operating
income, income before income taxes, net income, net cash provided
by operating activities and other measures of financial performance
prepared in accordance with GAAP. Please see
Schedule 1 below for applicable reconciliation.
SCHEDULE 1
The following table provides a reconciliation of Adjusted
OIBDA for Starz to its operating income calculated in accordance
with GAAP for the three months ended June
30, 2012, September 30, 2012,
December 31, 2012, March 31, 2013 and June
30, 2013, respectively.
(amounts in millions)
|
2Q12
|
3Q12
|
4Q12
|
1Q13
|
2Q13
|
Adjusted OIBDA
|
$
108.5
|
$ 108.1
|
$
101.4
|
$
116.5
|
$
129.5
|
Stock compensation
|
(3.6)
|
(3.6)
|
(10.2)
|
(7.2)
|
(9.0)
|
Depreciation and amortization
|
(4.6)
|
(5.0)
|
(5.6)
|
(4.4)
|
(4.4)
|
Operating income
|
$
100.3
|
$
99.5
|
$
85.6
|
$
104.9
|
$
116.1
|
|
|
|
|
|
|
Starz
|
Consolidated Balance Sheets
|
(Amounts in thousands, except share and per share
amounts)
|
(Unaudited)
|
|
|
June 30,
2013
|
|
December 31, 2012
|
Assets
|
|
Current assets:
|
|
|
|
Cash and cash equivalents
|
$
|
30,854
|
|
|
$
|
749,774
|
|
Restricted cash
|
63,817
|
|
|
—
|
|
Trade accounts receivable, net of allowances of
$37,719 and $35,045
|
242,061
|
|
|
241,415
|
|
Program rights, net
|
377,690
|
|
|
340,005
|
|
Deferred income taxes
|
5,081
|
|
|
990
|
|
Other current assets
|
37,364
|
|
|
44,727
|
|
Total current
assets
|
756,867
|
|
|
1,376,911
|
|
Program rights
|
384,794
|
|
|
338,684
|
|
Investment in films and television programs,
net
|
141,468
|
|
|
181,673
|
|
Property and equipment, net of accumulated
depreciation of $100,059 and $110,882
|
91,180
|
|
|
96,280
|
|
Deferred income taxes
|
7,969
|
|
|
12,222
|
|
Goodwill
|
131,760
|
|
|
131,760
|
|
Other assets, net
|
41,106
|
|
|
38,520
|
|
Total assets
|
$
|
1,555,144
|
|
|
$
|
2,176,050
|
|
|
|
|
|
Liabilities and Equity
|
|
|
|
Current liabilities:
|
|
|
|
Current portion of debt
|
$
|
4,792
|
|
|
$
|
4,134
|
|
Trade accounts payable
|
5,547
|
|
|
6,162
|
|
Accrued liabilities
|
391,139
|
|
|
256,062
|
|
Due to affiliate
|
—
|
|
|
39,519
|
|
Deferred revenue
|
11,704
|
|
|
24,574
|
|
Total current
liabilities
|
413,182
|
|
|
330,451
|
|
Debt
|
1,007,818
|
|
|
535,671
|
|
Other liabilities
|
9,171
|
|
|
7,784
|
|
Total liabilities
|
1,430,171
|
|
|
873,906
|
|
Stockholders' equity:
|
|
|
|
Preferred stock, $.01 par value. Authorized 50,000,000 shares; no shares
issued
|
—
|
|
|
—
|
|
Series A common stock, $.01 par value. Authorized 2,000,000,000 shares; issued
and outstanding 108,456,436 and 111,722,828 shares at June 30, 2013
and the LMC Spin-Off, respectively
|
1,084
|
|
|
—
|
|
Series B common stock, $.01 par value. Authorized 75,000,000 shares; issued
and outstanding 9,880,238 and 9,882,238 shares at June 30, 2013 and
the LMC Spin-Off, respectively
|
99
|
|
|
—
|
|
Additional paid-in capital
|
506,652
|
|
|
—
|
|
Accumulated other comprehensive loss, net of
taxes
|
(4,507)
|
|
|
—
|
|
Accumulated deficit
|
(371,090)
|
|
|
—
|
|
Member's interest
|
—
|
|
|
1,311,951
|
|
Total stockholders'
equity
|
132,238
|
|
|
1,311,951
|
|
Noncontrolling interests in
subsidiaries
|
(7,265)
|
|
|
(9,807)
|
|
Total equity
|
124,973
|
|
|
1,302,144
|
|
Commitments and contingencies
|
|
|
|
Total liabilities and equity
|
$
|
1,555,144
|
|
|
$
|
2,176,050
|
|
Starz
|
Consolidated Statements of
Operations
|
(Amounts in thousands, except per share
amounts)
|
(Unaudited)
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
Revenue:
|
|
|
|
|
|
|
|
Programming networks and other
services
|
$
|
391,081
|
|
|
$
|
361,627
|
|
|
$
|
740,569
|
|
|
$
|
728,878
|
|
Home video net sales
|
126,340
|
|
|
40,935
|
|
|
176,169
|
|
|
78,648
|
|
Total revenue
|
517,421
|
|
|
402,562
|
|
|
916,738
|
|
|
807,526
|
|
|
|
|
|
|
|
|
|
Costs and expenses:
|
|
|
|
|
|
|
|
Programming costs (including
amortization)
|
165,353
|
|
|
179,304
|
|
|
311,324
|
|
|
340,253
|
|
Production and acquisition costs (including
amortization)
|
113,267
|
|
|
39,372
|
|
|
153,057
|
|
|
75,448
|
|
Home video cost of sales
|
15,095
|
|
|
10,668
|
|
|
30,216
|
|
|
21,228
|
|
Operating expenses
|
12,437
|
|
|
12,953
|
|
|
25,122
|
|
|
26,375
|
|
Selling, general and administrative
|
81,762
|
|
|
51,789
|
|
|
150,982
|
|
|
108,906
|
|
Stock compensation
|
9,058
|
|
|
3,653
|
|
|
16,312
|
|
|
6,235
|
|
Depreciation and amortization
|
4,353
|
|
|
4,552
|
|
|
8,769
|
|
|
8,807
|
|
Total costs and
expenses
|
401,325
|
|
|
302,291
|
|
|
695,782
|
|
|
587,252
|
|
|
|
|
|
|
|
|
|
Operating income
|
116,096
|
|
|
100,271
|
|
|
220,956
|
|
|
220,274
|
|
|
|
|
|
|
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
Interest expense, net of amounts
capitalized
|
(11,331)
|
|
|
(4,449)
|
|
|
(21,559)
|
|
|
(9,330)
|
|
Other income (expense), net
|
(508)
|
|
|
(98)
|
|
|
(1,993)
|
|
|
4,167
|
|
Income before income
taxes
|
104,257
|
|
|
95,724
|
|
|
197,404
|
|
|
215,111
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
(38,222)
|
|
|
(26,116)
|
|
|
(73,166)
|
|
|
(66,308)
|
|
|
|
|
|
|
|
|
|
Net
income
|
66,035
|
|
|
69,608
|
|
|
124,238
|
|
|
148,803
|
|
|
|
|
|
|
|
|
|
Net income attributable to noncontrolling
interests
|
(2,148)
|
|
|
(883)
|
|
|
(2,486)
|
|
|
(2,296)
|
|
|
|
|
|
|
|
|
|
Net income attributable to
stockholders
|
$
|
63,887
|
|
|
$
|
68,725
|
|
|
$
|
121,752
|
|
|
$
|
146,507
|
|
|
|
|
|
|
|
|
|
Basic net income per common share
|
$
|
0.54
|
|
|
$
|
0.57
|
|
|
$
|
1.02
|
|
|
$
|
1.22
|
|
Diluted net income per common share
|
$
|
0.52
|
|
|
$
|
0.57
|
|
|
$
|
0.98
|
|
|
$
|
1.22
|
|
Weighted average number of common shares
outstanding:
|
|
|
|
|
|
|
|
Basic
|
118,362
|
|
|
119,996
|
|
|
119,139
|
|
|
119,996
|
|
Diluted
|
123,339
|
|
|
120,091
|
|
|
123,717
|
|
|
120,091
|
|
|
|
|
|
|
|
|
|
Starz
|
Consolidated Statements of Cash
Flows
|
(Amounts in thousands)
|
(Unaudited)
|
|
|
Six Months Ended June 30,
|
|
2013
|
|
2012
|
Operating activities:
|
|
|
|
Net income
|
$
|
124,238
|
|
|
$
|
148,803
|
|
Adjustments to reconcile net income to net cash
provided by operating activities:
|
|
|
|
Depreciation and
amortization
|
8,769
|
|
|
8,807
|
|
Amortization of program
rights
|
288,377
|
|
|
319,083
|
|
Program rights
payments
|
(227,514)
|
|
|
(280,601)
|
|
Amortization of investment in
films and television programs
|
128,250
|
|
|
64,628
|
|
Investment in films and television
programs
|
(107,346)
|
|
|
(129,122)
|
|
Stock
compensation
|
16,312
|
|
|
6,235
|
|
Payments of long term incentive
plan
|
(3,195)
|
|
|
(27,707)
|
|
Deferred income
taxes
|
12,687
|
|
|
1,307
|
|
Other non-cash
items
|
6,504
|
|
|
(13,350)
|
|
Changes in assets and
liabilities:
|
|
|
|
Current and
other assets
|
(59,944)
|
|
|
6,649
|
|
Due to
affiliate
|
(39,519)
|
|
|
(15,231)
|
|
Payables and
other liabilities
|
(6,545)
|
|
|
(27,768)
|
|
Net cash provided by operating
activities
|
141,074
|
|
|
61,733
|
|
|
|
|
|
Investing activities – purchases of property and
equipment
|
(3,125)
|
|
|
(2,255)
|
|
|
|
|
|
Financing activities:
|
|
|
|
Borrowings of debt
|
988,500
|
|
|
—
|
|
Payments of debt
|
(560,273)
|
|
|
(2,036)
|
|
Debt issuance costs
|
(2,344)
|
|
|
(381)
|
|
Distributions to Old LMC
|
(1,200,000)
|
|
|
—
|
|
Repurchases of common stock
|
(81,807)
|
|
|
—
|
|
Minimum withholding of taxes related to stock
compensation
|
(1,581)
|
|
|
—
|
|
Excess tax benefit from stock
compensation
|
842
|
|
|
—
|
|
Settlement of derivative
instruments
|
—
|
|
|
3
|
|
Net cash used in financing
activities
|
(856,663)
|
|
|
(2,414)
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash
equivalents
|
(206)
|
|
|
11
|
|
|
|
|
|
Net increase (decrease) in cash and cash
equivalents
|
(718,920)
|
|
|
57,075
|
|
Cash and cash equivalents:
|
|
|
|
Beginning of period
|
749,774
|
|
|
1,099,887
|
|
End of period
|
$
|
30,854
|
|
|
$
|
1,156,962
|
|
IMPORTANT NOTICE
- Starz (NASDAQ: STRZA, STRZB) CEO, Chris Albrecht will discuss Starz's financial
performance, and may discuss future opportunities in a conference
call which will begin at 12:00 p.m.
(ET) on August 1,
2013. The call can be accessed by dialing
(877) 591-4953 or (719) 325-4867 at least 10 minutes prior to the
start time. Replays of the conference call can
be accessed through 6:00 p.m. (ET) on
August 8, 2013, by dialing (888)
203-1112 or (719) 457-0820 plus the passcode
9956112#. The call will also be broadcast live
via the Internet and archived on our website. To
access the webcast go to
http://ir.starz.com/events.cfm.
Links to this press release will also be available on the Starz
website.
- This press release includes certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements about business strategies,
market potential, future financial prospects, new service and
product launches including original content programming, new
distribution platforms for our programming, the continuation of our
stock repurchase plans and other matters that are not historical
facts. These forward-looking statements involve many risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements, including,
without limitation, market acceptance of new products or services,
the timely launch of our original programming, the cooperation of
our distributors in marketing our services, competitive issues,
regulatory matters affecting our businesses, continued access to
capital on terms acceptable to Starz and changes in law and market
conditions conducive to stock repurchases. These forward-looking
statements speak only as of the date of this press release, and
Starz expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in Starz's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
Please refer to the publicly filed documents of Starz, including
the most recent Forms 10-K and 10-Q, for additional information
about Starz and about the risks and uncertainties related to
Starz's business which may affect the statements made in this press
release.
About Starz
Starz (NASDAQ: STRZA,
STRZB) is a leading integrated global media and entertainment
company with operating units that provide premium subscription
video programming on domestic U.S. pay television channels (Starz
Networks), global content distribution (Starz Distribution) and
animated television and movie production (Starz Animation),
www.starz.com.
Starz Networks is a leading provider of premium
subscription video programming through the flagship
STARZ® and ENCORE® pay TV networks which
showcase premium original programming and movies to U.S.
multichannel video distributors, including cable operators,
satellite television providers, and telecommunications
companies. As of June 30,
2013, STARZ and ENCORE serve a combined 56.9 million
subscribers, including 21.8 million at STARZ, and 35.1 million at
ENCORE, making them the largest pair of premium flagship channels
in the U.S. STARZ® and
ENCORE®, along with Starz Networks' third network
MOVIEPLEX®, air over 1,000 movies monthly across
17 linear networks, complemented by On Demand and authenticated
online offerings through STARZ PLAY, ENCORE PLAY, and MOVIEPLEX
PLAY. Starz Distribution develops, produces and acquires
entertainment content, distributing it to consumers globally on
DVD, digital formats and traditional television.
Starz Distribution's home video, digital media and worldwide
distribution business units distribute original programming content
produced by Starz, as well as entertainment content for itself and
third parties. Starz Animation produces animated
TV and movie content for studios, networks, distributors and
audiences worldwide.
Contacts:
|
|
|
|
Courtnee Ulrich
|
Theano
Apostolou
|
Investor Relations
|
Corporate
Communications
|
(720) 875-5420
|
(424)
204-4052
|
courtnee.ulrich@starz.com
|
theano@starz.com
|
SOURCE Starz