Lionsgate explores sale, draws takeover interest from Bollore and Banijay

Lionsgate Studios has explored a sale and drawn takeover interest from France’s Bollore Group as buyers weigh the value of one of Hollywood’s deepest independent libraries. The studio, which trades under the ticker LION, has a market value of about $3.8 billion and has been working with an investment bank to evaluate inbound approaches.

The attraction is not just the current film slate. Lionsgate says it owns more than 20,000 film and television titles and calls itself the largest independent motion picture company in the world. Its franchise roster includes John Wick, The Hunger Games, Twilight, Saw and Now You See Me, assets that have kept their value across theatrical, streaming and licensing windows and that also feed the company’s live and location-based entertainment business.

A second potential bidder, Banijay Group, has also looked at Lionsgate, though any move could take time because Banijay is still digesting its merger with All3Media. That combination closed on July 9, 2026, and Banijay described the merged business as the world’s largest independent production company. The company has been building scale as streaming platforms, international distribution and content rights all became more competitive, and a Lionsgate deal would fit that push.

The French interest has a clear industrial logic. Bollore wants to strengthen the production capabilities of Canal+, where it holds a controlling stake. Canal+ says it serves more than 40 million subscribers across more than 70 countries, while Bolloré Group holds a 30.4% stake in the platform. A Lionsgate purchase would add a sizable library and more globally recognizable franchises to that reach, especially as studios and broadcasters try to own more of the intellectual property that can travel across markets.

Lionsgate became a standalone public company on May 7, 2025, after completing its separation from STARZ. More than 99% of voting shareholders approved the split. Since then, the studio has been pressed to prove that independence can still deliver scale, even as the entertainment business has shifted toward larger content pools and broader distribution networks. Shares rose as much as 9% in after-hours trading after news of the interest, a sign that investors immediately saw strategic value in the catalog. The talks remain confidential, no transaction is assured, and Lionsgate could still remain independent, but the company is now firmly in the crosshairs of a wider consolidation wave.