Income (loss) from discontinued operations of the Starz Business consists of the following: | | | | | | | | | | | | | Three Months Ended | | June 30, | | 2025 | | 2024 | | (Amounts in millions) | Revenues | $ | 127.3 | | | $ | 347.8 | | Expenses: | | | | Direct operating | 71.7 | | | 141.3 | | Distribution and marketing | 26.3 | | | 105.2 | | General and administration | 10.0 | | | 23.6 | | Depreciation and amortization | 19.6 | | | 41.6 | | Restructuring and other | 13.5 | | | (5.2) | | Total expenses | 141.1 | | | 306.5 | | Operating income (loss) | (13.8) | | | 41.3 | | Interest expense | (0.4) | | | (5.3) | | Interest and other income | — | | | 0.1 | | Other expenses | (0.6) | | | (1.7) | | Loss on extinguishment of debt | — | | | (2.2) | | Income (loss) from discontinued operations before income taxes | (14.8) | | | 32.2 | | Income tax provision | (0.1) | | | (4.5) | | Net income (loss) from discontinued operations, net of income taxes | $ | (14.9) | | | $ | 27.7 | |
Lionsgate has separately reported the assets and liabilities of the discontinued operations of the Starz Business in its unaudited condensed consolidated balance sheet as of March 31, 2025. These assets and liabilities consist of the following:
| | | | | | | March 31, 2025 | | (Amounts in millions) | ASSETS | | Cash and cash equivalents | $ | 11.2 | | Accounts receivable, net | 50.9 | | Other current assets | 13.7 | | Total current assets - discontinued operations | 75.8 | | Investment in films and television programs and program rights, net | 918.9 | | Property and equipment, net | 48.6 | | Intangible assets, net | 816.0 | | Other assets | 40.1 | | Total assets - discontinued operations | $ | 1,899.4 | | | | LIABILITIES | | Accounts payable | $ | 53.6 | | Content related payables | 99.3 | | Other accrued liabilities | 40.9 | | Residuals | 27.7 | | Film related obligations | 90.9 | | Deferred revenue | 38.4 | | Total current liabilities - discontinued operations | 350.8 | | Debt | 318.3 | | Other liabilities | 75.7 | | Deferred tax liabilities | 7.2 | | Total liabilities - discontinued operations | $ | 752.0 | |
|