Lionsgate Shares Rise as Legendary Makes Fresh $3.5B Bid

WHO:

Deadline - Legendary Entertainment made a takeover offer for Lionsgate; Lionsgate is described as a standalone studio.

Variety - Production company Legendary Entertainment submitted a new offer to acquire Lionsgate.

IJR - Legendary submitted a takeover offer for Lionsgate.

Reddit Movies - The post was submitted by Reddit user u/JoJoWithTheFroyo.

WHAT:

Deadline - Lionsgate shares surged more than 15% in afternoon trading after a report that the company had received a takeover offer from Legendary Entertainment.

Variety - Lionsgate shares rose more than 15% Tuesday following a Bloomberg report that Legendary had submitted a new takeover offer valuing Lionsgate at $3.5 billion.

IJR - Legendary’s offer valued Lionsgate at $3.5 billion, plus $1.9 billion of debt; Lionsgate shares jumped by double digits after the Bloomberg report.

WHY:

Deadline - The reported takeover offer prompted the rise in Lionsgate shares.

Variety - The Bloomberg report of Legendary’s renewed offer was followed by a more-than-15% increase in Lionsgate shares.

Deadline - Legendary had been exploring a possible acquisition of the standalone studio for months.

Deadline - Deadline reported Legendary’s interest after Lionsgate Studios separated from Starz.

HOW:

Deadline - Bloomberg reported that Lionsgate had received a takeover offer from Legendary.

Variety - Bloomberg reported that Legendary had revived its bid to acquire Lionsgate.

Reddit Movies - The post linked to an article about Legendary submitting a takeover offer for Lionsgate.

(UPDATED October 21, 2026 00:29 UTC)

Legendary Entertainment has made a new offer to acquire Lionsgate, valuing the studio at $3.5 billion, plus $1.9 billion in debt. Lionsgate shares surged more than 15% after Bloomberg reported the bid. Legendary has been exploring an acquisition of the standalone studio for months.