ENGLEWOOD, Colo., Feb. 21, 2014 /PRNewswire/ -- Starz (NASDAQ:
STRZA, STRZB) today reported fourth quarter and year end 2013
results. Highlights include (1):
- Achieved annual increases in revenue of 9%, Adjusted
OIBDA(2) of 7% and operating income of 5% in 2013
- STARZ/ENCORE combined subscribers reach 57.1 million; leads
U.S. premium television category
- STARZ subscriptions at 22.2 million; up 1 million, or 5%, since
December 31, 2012
- ENCORE subscriptions at 34.9 million; up slightly since
December 31, 2012
- Since September 30, 2013, STARZ
subscriptions increased by 200K, or 1%, while ENCORE subscriptions
were essentially flat
- Repurchased 3.7 million shares from November 1, 2013 to January 31, 2014; since trading began on
January 14, 2013, Starz has
repurchased 10.5% of its outstanding shares
- Authorized an additional $400.0
million for share repurchase program; total remaining
repurchase authorization of $474.5
million
- Strong debut for STARZ Original series "Black Sails" - more
than 2.9 million average viewers per episode linear + DVR thru
first 3 episodes of the series
- STARZ Original series "Power" from Curtis "50 Cent" Jackson selected for MIPTV World
Premiere TV Screening in Cannes;
will debut on STARZ in Summer 2014
- Greenlit STARZ Original series "Survivor's Remorse" half-hour
comedy project from LeBron James and
Tom Werner for 2014 Q4 slate, "Flesh
and Bone" ballet drama for 2015
- Launched STARZ PLAY on Xbox 360; ENCORE PLAY/MOVIEPLEX PLAY and
Xbox One full suite deployments coming in 2014
- Signed Starz Worldwide Distribution/Amedia 15-country
distribution output deal for Russia, Georgia, and The Baltics for STARZ Original
series and other TV/movie programming
(Logo:
http://photos.prnewswire.com/prnh/20080522/LATH063LOGO-b)
"This was another strong quarter for Starz and a strong end to
2013. During 2013, we delivered solid growth in revenue, Adjusted
OIBDA, and subscriber performance," said Starz CEO Chris Albrecht. "Over the past year, we
increased our investments in exclusive original programming at
STARZ and implemented new offerings to our ENCORE thematic channels
for African-American, Latino, Baby Boomer, and Millennial
audiences."
Albrecht continued, "The new STARZ Original series, 'Black
Sails,' is off to an excellent start with worldwide audiences and
the strongest ever debut for a new STARZ Original series in the
U.S. Through the first three episodes of the debut season,
more than 2.9 million viewers in the U.S. have watched on STARZ,
with data for on-demand and online viewing yet to be included in
the tally. Global sales of 'Black Sails' were robust. The second
season of 'Da Vinci's Demons,' and our new 2014 series, 'Power,'
'Outlander,' and the recently greenlit 'Survivor's Remorse' are on
the schedule as we finalize the programming slate for the fourth
quarter. We remain on track to grow our original programming
hours to 65-75 hours in the next few years."
Consolidated
For the year, revenue increased 9% to
$1,777.5 million, Adjusted OIBDA
increased 7% to $476.9 million and
operating income increased 5% to $425.2
million. For the quarter, revenue decreased 2% to
$414.7 million, Adjusted OIBDA
increased 16% to $117.2 million and
operating income increased 21% to $103.4
million.
Starz Networks
For the year, revenue increased 2% to
$1,297.7 million due to the one-time
recognition during Q2 2013 of $18.6
million of previously deferred revenue and annual rate
increases. Adjusted OIBDA increased 2% to $456.2 million as a result of the increase in
revenue and lower programming costs, partially offset by increased
advertising related to original programming, increased cooperative
marketing efforts with our distributors, increased litigation
related legal costs and costs associated with becoming an
independent public company.
For the quarter, revenue increased 2% to $322.0 million primarily as a result of annual
rate increases from various distributors. Adjusted OIBDA
decreased 2% to $118.8 million due to
higher advertising expense in December
2013 associated with the January
2014 premiere of "Black Sails." An increase in
cooperative marketing efforts with our distributors and costs
associated with becoming an independent public company also
contributed to the decrease.
Starz Distribution
For the year, revenue increased 40%
to $449.5 million primarily as a
result of a greater number of higher performing titles from The
Weinstein Company ("Weinstein") including Django Unchained
and Silver Linings Playbook, various STARZ Original series
titles including "The White Queen," "Spartacus," and "Da Vinci's
Demons" and AMC's "The Walking Dead." Adjusted OIBDA
increased 588% to $24.0 million
primarily due to the increase in revenue and a decrease in
impairments of investment in films and television programs during
2013.
For the quarter, revenue decreased 14% to $83.8 million as a result of fewer high
performing new releases in Q4 2013 as compared to Q4 2012. Q4
2012 included the Weinstein film Lawless and Season 1 of the
STARZ Original series "Magic City." There were no significant new
releases in Q4 2013. Adjusted OIBDA increased 98% to
($0.5) million primarily due to lower
production and acquisition costs resulting from a decrease in
impairments of investment in films and television programs as
compared to the prior period.
Starz Animation
The decrease in both revenue and
Adjusted OIBDA for the year and the quarter was due to fewer
projects in production at the company's Film Roman
studio.
Operating Income
The increase for the year was
primarily due to the increase in Adjusted OIBDA and lower
depreciation and amortization expense partially offset by an
increase in stock compensation expense. The increase for the
quarter was primarily due to the increase in Adjusted OIBDA,
decreased stock compensation expense and lower depreciation and
amortization.
Cash Paid for Investment in Films and Television
Programs
The increase for the year and quarter was primarily
due to payments for certain Weinstein titles partially offset by
timing of cash spend related to our original programming.
Share Repurchases
From November
1, 2013 through January 31,
2014, 3.7 million shares of Series A common stock (NASDAQ:
STRZA) were purchased at an average cost per share of $28.65 for total cash consideration of
$106.4 million. Since trading
began on January 14, 2013, Starz has
repurchased approximately 12.8 million shares at an average cost
per share of $25.50 for aggregate
cash consideration of $325.5
million. These repurchases represent 10.5% of the
shares outstanding at January 14,
2013. In addition, on February 20,
2014, the Starz board authorized a $400 million increase in the share repurchase
program. As of January 31,
2014, $474.5 million remains
under the $800 million authorization,
which includes the newly authorized amount. Under the share
repurchase program, Starz may acquire its common stock from time to
time through open market transactions and privately negotiated
transactions.
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 February 21, 2014. 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 and year ended
December 31, 2013 to the same period
in 2012.
SUPPLEMENTAL INFORMATION
As a supplement to Starz's
condensed consolidated statements of operations, to be included in
its Form 10-K, the following is a presentation of quarterly
financial information and operating metrics for the periods
indicated.
Please see the 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)
|
4Q12
|
1Q13
|
2Q13
|
3Q13
|
4Q13
|
Starz
Networks
|
$
315.8
|
$
315.8
|
$
340.0
|
$
319.9
|
$
322.0
|
Starz Distribution
(1)
|
97.0
|
76.2
|
171.9
|
117.6
|
83.8
|
Starz
Animation
|
10.9
|
7.5
|
6.6
|
8.7
|
9.7
|
Eliminations
|
(1.5)
|
(0.2)
|
(1.1)
|
(0.1)
|
(0.8)
|
Revenue
|
$
422.2
|
$
399.3
|
$
517.4
|
$
446.1
|
$
414.7
|
|
|
|
|
|
|
Starz
Networks
|
$
121.1
|
$
114.4
|
$
116.5
|
$
106.5
|
$
118.8
|
Starz
Distribution
|
(19.8)
|
2.6
|
14.5
|
7.4
|
(0.5)
|
Starz
Animation
|
(0.4)
|
(0.6)
|
(0.8)
|
(0.5)
|
(0.7)
|
Eliminations
|
0.5
|
0.1
|
(0.7)
|
0.3
|
(0.4)
|
Adjusted
OIBDA
|
$
101.4
|
$
116.5
|
$
129.5
|
$
113.7
|
$
117.2
|
|
|
|
|
|
|
Operating
income
|
$
85.6
|
$
104.9
|
$
116.1
|
$
100.8
|
$
103.4
|
|
|
|
|
|
|
Starz
Networks
|
$
62.5
|
$
29.2
|
$
21.8
|
$
43.2
|
$
31.0
|
Starz
Distribution
|
20.0
|
24.3
|
26.3
|
64.6
|
62.0
|
Total IFT
(2)
|
$
82.5
|
$
53.5
|
$
48.1
|
$
107.8
|
$
93.0
|
|
|
|
|
|
|
Subscription units –
STARZ
|
21.2
|
21.6
|
21.8
|
22.0
|
22.2
|
Subscription units –
ENCORE
|
34.8
|
35.1
|
35.1
|
35.0
|
34.9
|
|
|
|
|
|
|
(1) Includes the following
home video net sales
|
$
78.3
|
$
49.8
|
$
126.3
|
$
65.7
|
$
54.7
|
(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)
|
12/31/12
|
3/31/13
|
6/30/13
|
9/30/13
|
12/31/13
|
Cash
|
$
749.8
|
$
17.9
|
$
30.9
|
$
30.6
|
$
25.7
|
|
|
|
|
|
|
Debt:
|
|
|
|
|
|
Bank
facility
|
$
5.0
|
$
235.0
|
$
257.0
|
$
309.5
|
$
306.5
|
5% senior
notes
|
500.0
|
678.4
|
678.3
|
678.1
|
678.0
|
Transponder capital
lease
|
34.8
|
33.8
|
32.8
|
31.7
|
30.7
|
Building capital
lease
|
-
|
44.7
|
44.5
|
44.5
|
44.3
|
Total debt
|
$
539.8
|
$
991.9
|
$
1,012.6
|
$
1,063.8
|
$
1,059.5
|
|
|
|
|
|
|
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 the 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 December 31,
2012, March 31, 2013,
June 30, 2013, September 30, 2013 and December 31, 2013, respectively.
(amounts in
millions)
|
4Q12
|
1Q13
|
2Q13
|
3Q13
|
4Q13
|
Adjusted
OIBDA
|
$
101.4
|
$
116.5
|
$
129.5
|
$
113.7
|
$
117.2
|
Stock
compensation
|
(10.2)
|
(7.2)
|
(9.0)
|
(8.8)
|
(9.3)
|
Depreciation and
amortization
|
(5.6)
|
(4.4)
|
(4.4)
|
(4.1)
|
(4.5)
|
Operating
income
|
$
85.6
|
$
104.9
|
$
116.1
|
$
100.8
|
$
103.4
|
|
|
|
|
|
|
Starz
|
Consolidated
Balance Sheets
|
December 31, 2013
and 2012
|
(Amounts in
thousands, except share and per share amounts)
|
(Unaudited)
|
|
|
2013
|
|
2012
|
Assets
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
25,747
|
|
|
$
|
749,774
|
|
Restricted
cash
|
30,077
|
|
|
—
|
|
Trade accounts
receivable, net of allowances of $32,808 and $35,045
|
247,131
|
|
|
241,415
|
|
Program
rights
|
271,798
|
|
|
340,005
|
|
Deferred income
taxes
|
527
|
|
|
990
|
|
Other current
assets
|
63,845
|
|
|
44,727
|
|
Total current
assets
|
639,125
|
|
|
1,376,911
|
|
Program
rights
|
333,176
|
|
|
338,684
|
|
Investment in films
and television programs, net
|
194,581
|
|
|
181,673
|
|
Property and
equipment, net
|
95,650
|
|
|
96,280
|
|
Deferred income
taxes
|
18,509
|
|
|
12,222
|
|
Goodwill
|
131,760
|
|
|
131,760
|
|
Other assets,
net
|
37,197
|
|
|
38,520
|
|
Total
assets
|
$
|
1,449,998
|
|
|
$
|
2,176,050
|
|
|
|
|
|
Liabilities and
Equity
|
|
|
|
Current
liabilities:
|
|
|
|
Current portion of
debt
|
$
|
4,943
|
|
|
$
|
4,134
|
|
Trade accounts
payable
|
7,254
|
|
|
6,162
|
|
Accrued
liabilities
|
297,826
|
|
|
256,062
|
|
Due to
affiliates
|
—
|
|
|
39,519
|
|
Deferred
revenue
|
16,571
|
|
|
24,574
|
|
Total current
liabilities
|
326,594
|
|
|
330,451
|
|
Debt
|
1,054,542
|
|
|
535,671
|
|
Other
liabilities
|
14,141
|
|
|
7,784
|
|
Total
liabilities
|
1,395,277
|
|
|
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 101,130,964 and 111,722,828 shares at
December 31, 2013 and the LMC Spin-Off, respectively
|
1,011
|
|
|
—
|
|
Series B common
stock, $.01 par value. Authorized 75,000,000 shares; issued
and outstanding 9,875,737 and 9,882,238 shares at December 31, 2013
and the LMC Spin-Off, respectively
|
99
|
|
|
—
|
|
Additional paid-in
capital
|
310,651
|
|
|
—
|
|
Accumulated other
comprehensive loss, net of taxes
|
(4,322)
|
|
|
—
|
|
Accumulated
deficit
|
(245,503)
|
|
|
—
|
|
Member's
interest
|
—
|
|
|
1,311,951
|
|
Total stockholders'
equity
|
61,936
|
|
|
1,311,951
|
|
Noncontrolling
interests in subsidiaries
|
(7,215)
|
|
|
(9,807)
|
|
Total
equity
|
54,721
|
|
|
1,302,144
|
|
Commitments and
contingencies
|
|
|
|
Total liabilities and
equity
|
$
|
1,449,998
|
|
|
$
|
2,176,050
|
|
Starz
|
Consolidated
Statements of Operations
|
Years Ended
December 31, 2013, 2012 and 2011
|
(Amounts in
thousands, except per share amounts)
|
(Unaudited)
|
|
|
2013
|
|
2012
|
|
2011
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
Programming networks
and other services
|
$
|
1,481,046
|
|
|
$
|
1,419,074
|
|
|
$
|
1,372,141
|
|
Home video net
sales
|
296,476
|
|
|
211,622
|
|
|
241,892
|
|
Total
revenue
|
1,777,522
|
|
|
1,630,696
|
|
|
1,614,033
|
|
|
|
|
|
|
|
Costs and
expenses:
|
|
|
|
|
|
Programming costs
(including amortization)
|
632,255
|
|
|
661,157
|
|
|
651,249
|
|
Production and
acquisition costs (including amortization)
|
268,560
|
|
|
192,340
|
|
|
158,789
|
|
Home video cost of
sales
|
71,154
|
|
|
63,880
|
|
|
62,440
|
|
Operating
expenses
|
54,673
|
|
|
53,410
|
|
|
53,703
|
|
Selling, general and
administrative
|
273,937
|
|
|
215,077
|
|
|
238,264
|
|
Stock
compensation
|
34,296
|
|
|
20,022
|
|
|
7,078
|
|
Depreciation and
amortization
|
17,426
|
|
|
19,406
|
|
|
17,907
|
|
Total costs and
expenses
|
1,352,301
|
|
|
1,225,292
|
|
|
1,189,430
|
|
|
|
|
|
|
|
Operating
income
|
425,221
|
|
|
405,404
|
|
|
424,603
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
Interest expense, net
of amounts capitalized
|
(44,994)
|
|
|
(25,688)
|
|
|
(5,012)
|
|
Other income
(expense), net
|
8,953
|
|
|
3,023
|
|
|
(3,505)
|
|
Income from
continuing operations before income taxes
|
389,180
|
|
|
382,739
|
|
|
416,086
|
|
|
|
|
|
|
|
Income tax
expense
|
(139,380)
|
|
|
(130,465)
|
|
|
(172,189)
|
|
|
|
|
|
|
|
Income from
continuing operations
|
249,800
|
|
|
252,274
|
|
|
243,897
|
|
|
|
|
|
|
|
Loss from
discontinued operations (including loss on sale of $12,114 in
2011), net of income taxes
|
—
|
|
|
—
|
|
|
(7,486)
|
|
|
|
|
|
|
|
Net
income
|
249,800
|
|
|
252,274
|
|
|
236,411
|
|
|
|
|
|
|
|
Net loss (income)
attributable to noncontrolling interests
|
(2,461)
|
|
|
2,210
|
|
|
3,273
|
|
|
|
|
|
|
|
Net income
attributable to stockholders / member
|
$
|
247,339
|
|
|
$
|
254,484
|
|
|
$
|
239,684
|
|
|
|
|
|
|
|
Basic net income per
common share
|
$2.13
|
|
|
$2.12
|
|
|
$2.00
|
|
Diluted net income
per common share
|
$2.04
|
|
|
$2.12
|
|
|
$2.00
|
|
Weighted average
number of common shares outstanding:
|
|
|
|
|
|
Basic
|
115,925
|
|
|
119,996
|
|
|
119,996
|
|
Diluted
|
121,156
|
|
|
120,105
|
|
|
120,101
|
|
Starz
|
Consolidated
Statements of Cash Flows
|
Years Ended
December 31, 2013, 2012 and 2011
|
(Amounts in
thousands)
|
(Unaudited)
|
|
|
2013
|
|
2012
|
|
2011
|
Operating
activities:
|
|
|
|
|
|
Net income
|
$
|
249,800
|
|
|
$
|
252,274
|
|
|
$
|
236,411
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
Loss from
discontinued operations
|
—
|
|
|
—
|
|
|
7,486
|
|
Depreciation and
amortization
|
17,426
|
|
|
19,406
|
|
|
17,907
|
|
Amortization of
program rights
|
581,107
|
|
|
617,789
|
|
|
611,041
|
|
Program rights
payments
|
(399,856)
|
|
|
(456,558)
|
|
|
(554,341)
|
|
Amortization of
investment in films and television programs
|
212,392
|
|
|
141,553
|
|
|
126,102
|
|
Investment in films
and television programs
|
(302,468)
|
|
|
(270,071)
|
|
|
(197,418)
|
|
Stock
compensation
|
34,296
|
|
|
20,022
|
|
|
7,078
|
|
Payments of long term
incentive plan
|
(3,195)
|
|
|
(33,410)
|
|
|
(7,696)
|
|
Deferred income
taxes
|
8,358
|
|
|
(17,410)
|
|
|
37,023
|
|
Other non-cash
items
|
5,727
|
|
|
4,533
|
|
|
11,014
|
|
Changes in assets and
liabilities:
|
|
|
|
|
|
Current and other
assets
|
(61,073)
|
|
|
(12,233)
|
|
|
(45,338)
|
|
Due to
affiliates
|
(39,519)
|
|
|
(5,637)
|
|
|
89,271
|
|
Payables and other
liabilities
|
9,900
|
|
|
31,819
|
|
|
9,433
|
|
Net cash provided by
operating activities
|
312,895
|
|
|
292,077
|
|
|
347,973
|
|
|
|
|
|
|
|
Investing activities
- purchases of property and equipment
|
(14,833)
|
|
|
(16,214)
|
|
|
(7,723)
|
|
|
|
|
|
|
|
Financing
activities:
|
|
|
|
|
|
Borrowings of
debt
|
1,197,000
|
|
|
500,000
|
|
|
505,000
|
|
Payments of
debt
|
(721,632)
|
|
|
(504,029)
|
|
|
(59,170)
|
|
Debt issuance
costs
|
(2,350)
|
|
|
(8,514)
|
|
|
(10,191)
|
|
Distributions to Old
LMC
|
(1,200,000)
|
|
|
(600,000)
|
|
|
—
|
|
Repurchases of common
stock
|
(289,864)
|
|
|
—
|
|
|
—
|
|
Distributions to Old
LMC related to stock compensation
|
—
|
|
|
(4,689)
|
|
|
—
|
|
Minimum withholding
of taxes related to stock compensation
|
(9,836)
|
|
|
(13,273)
|
|
|
—
|
|
Excess tax benefit
from stock compensation
|
4,655
|
|
|
4,401
|
|
|
—
|
|
Contribution from
noncontrolling owner of subsidiary
|
—
|
|
|
—
|
|
|
3,000
|
|
Settlement of
derivative instruments
|
—
|
|
|
3
|
|
|
(2,863)
|
|
Restricted
cash
|
—
|
|
|
—
|
|
|
8,226
|
|
Net cash provided by
(used in) financing activities
|
(1,022,027)
|
|
|
(626,101)
|
|
|
444,002
|
|
Effect of exchange
rate changes on cash and cash equivalents
|
(62)
|
|
|
125
|
|
|
(17)
|
|
Net increase
(decrease) in cash and cash equivalents
|
(724,027)
|
|
|
(350,113)
|
|
|
784,235
|
|
Cash and cash
equivalents:
|
|
|
|
|
|
Beginning of
year
|
749,774
|
|
|
1,099,887
|
|
|
315,652
|
|
End of
year
|
$
|
25,747
|
|
|
$
|
749,774
|
|
|
$
|
1,099,887
|
|
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 February 21, 2014. The call can be accessed
by dialing (877) 718-5095 or (719) 325-4850 at least 10 minutes
prior to the start time. Replays of the conference call can
be accessed through 3:00 p.m. (ET) on
February 28, 2014, by dialing (888)
203-1112 or (719) 457-0820 plus the passcode 8329263#. 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, international expansion opportunities 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, changes in law and market
conditions conducive to stock repurchases and the ability to enter
into transactions for international expansion. 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 Form 10-K, 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 December 31, 2013, STARZ and ENCORE serve a
combined 57.1 million subscribers, including 22.2 million at STARZ,
and 34.9 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