Legendary Entertainment Revives Bid to Acquire Lionsgate

Legendary Entertainment has revived its bid to acquire Lionsgate, according to a Bloomberg report. The news caused Lionsgate shares to rise more than 15 percent on Tuesday, bringing the company's market capitalization to 3.6 billion dollars.

A merger would allow Legendary to self-distribute its films. The production company previously explored a partnership with Lionsgate following the May 2025 split-off of Starz, which established Lionsgate Studios as a separately traded entity.

Lionsgate recently reported a 48 percent jump in overall revenue for the June 2026 quarter. This growth was driven by the Michael Jackson biopic "Michael," which became the first biopic to exceed 1 billion dollars at the box office. Representatives for both Legendary and Lionsgate declined to comment on the reported offer.